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KYC Policy

Monica's KYC framework covers customer identification, verification, ongoing review, and enhanced due diligence for higher-risk profiles.

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Verification levels

Light (email + phone) for very small amounts. Standard (BVN/NIN + selfie) for typical use. Enhanced for high-volume or business accounts.

Documents

BVN or NIN. Selfie with liveness check. Optional: address proof for enhanced tier.

Timing

Light: instant. Standard: ~4 minutes typical. Enhanced: 24–48 hours.

Re-verification

Triggered by activity changes, regulatory updates, or risk score shifts.

FAQ

Why KYC?

Required by Nigerian regulation and global AML standards.

Data security?

Encrypted, restricted access, retained per legal requirement.

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