KYC (Know Your Customer) and onboarding are related but distinct processes. KYC is a regulatory requirement focused on verifying a client’s identity, assessing risk, and ensuring they are not involved in illicit activities. It involves collecting identification documents, screening against sanctions lists, and monitoring for suspicious activity. Onboarding, on the other hand, is broader—it includes KYC but also encompasses account setup, client education, service personalization, and ongoing support. KYC is one compliance step within the wider onboarding journey.
