Assembly conducts its own unique version of user verification process to ensure that we can be confident that we know who we're paying out to. This process is based on a commonly known term; Know Your Customer (KYC), which is a procedure that banks and businesses use to assess and monitor customer risk, and it is also a legal requirement to comply with Anti-Money Laundering (AML) Laws.
Assembly looks at user verification as the starting point of an ongoing process to establish the identity of your pay-out users (people you are sending money to) before we pay them out, to ensure that . The information we collect is used during a process we call 'staged underwriting'.
There are different data requirements for pay-out users who are located in different countries, as well as if they are a person or a company. A pay-out user must provide the required user information to satisfy our user verification process in order to receive money. Details on the user verification requirements can be found here.