The Compliance Playbook: KYC, KYB, and RFI in Cross-Border Payments

Expanding into global markets is exciting new customers, new revenue streams, and endless opportunities. But when money crosses borders, so do risks. Fraud, money laundering, regulatory scrutiny, these challenges don’t just sit in the background, they’re front and centre.

And while it’s tempting to focus on the product roadmap or customer growth, there’s one piece that can’t be ignored: compliance.

In the world of cross-border payments, compliance boils down to three core practices: KYC (Know Your Customer), KYB (Know Your Business), and RFI (Requests for Information). These are more than acronyms, they’re the guardrails that keep your platform safe, regulators satisfied, and customers confident.

What Are KYC, KYB, and RFI?

At the core of compliance are two essential checks: KYC (Know Your Customer) and KYB (Know Your Business). Both aim to verify identity and background, KYC for individuals, KYB for businesses. It’s about asking: Who are you, and can we trust you to move money across borders?

For individuals, that means verifying details like name, date of birth, address, identity documents, and source of funds. For businesses, it’s about digging deeper, checking registration records, tax filings, beneficial ownership, and even online presence.

But sometimes, the first round of checks isn’t enough. Information may be incomplete, unclear, or inconsistent. That’s when an RFI (Request for Information) steps in. An RFI gives compliance teams the chance to resolve gaps before approving a customer or transaction. Think of it as the “follow-up questions” stage of due diligence.

For example, you might ask:

• Does the customer’s ID match their declared address and date of birth?
• Is the business’s website functional, and do its tax records check out?
• Are there any high-risk indicators, such as sanctions exposure, politically exposed persons (PEP) links, or transactions through money-masking platforms?
• Are the documents submitted clear, complete, and free of errors?

An RFI might then request:

• A clearer ID scan or secondary proof of identity
• An updated or corrected physical address
• Business registration details or proof of goods/services sold
• Expected transaction volumes for better risk profiling

By layering KYC, KYB, and RFI together, payment providers build a compliance net that catches risks early, reduces fraud, and keeps regulators satisfied, all while maintaining customer trust.

Why These Checks Matter in Cross-Border Payments

You can’t scale globally without strong compliance. Here’s why KYC, KYB, and RFI are critical:

1. Guarding against fraud and money laundering - Criminals thrive in weak systems. Compliance ensures your platform isn’t exploited for illicit transactions.
2. Meeting global regulatory requirements - From the EU to the US to APAC, every jurisdiction has its own compliance rules. Skipping them means fines, penalties, or worse losing your license to operate.
3. Building customer trust - Users want security. When they see you prioritise safe onboarding and transparent processes, it boosts confidence in your platform.
4. Scaling without roadblocks - With strong compliance foundations, you can enter new markets faster, without being slowed down by regulatory surprises.

In short: KYC, KYB, and RFI aren’t just red tape, they’re your ticket to sustainable growth in cross-border payments.

How Glomo Helps Simplify Compliance

Compliance doesn’t have to feel like a roadblock. At Glomo, we turn complex processes into streamlined, scalable solutions so you can grow globally with confidence.

Here’s how we do it:

• End-to-End Global Coverage - From KYC/KYB checks to AML screening and sanctions monitoring, Glomo handles it all. We help you stay compliant with international standards across multiple jurisdictions.
• Real-Time Risk Engine - Transactions don’t stop after onboarding, and neither does compliance. Our risk engine scans every transaction in real time, flagging suspicious activity instantly.
• Flexible Integration Options - Choose what works best: an embedded compliance module that blends into your UI, or a full API-driven integration for maximum control.
• Smarter RFIs - Instead of generic back-and-forth, we help request only what’s necessary. That keeps your compliance team efficient and your customers frustration-free.

By turning compliance into a seamless experience, Glomo helps businesses balance two critical goals: meeting regulatory obligations and scaling globally without friction.

Final Thoughts

Cross-border payments are full of opportunity, but also risk. To navigate this landscape, businesses need more than just a product; they need a compliance system built on KYC, KYB, and RFI.

These aren’t acronyms for the sake of regulation, they're the trust framework that keeps money moving safely across borders. And when handled right, compliance doesn’t slow you down, it accelerates your global growth.

At Glomo, we make compliance automated, adaptive, and global, so you can focus on what matters most: building value for your customers worldwide.