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How to Use Reverifications for KYC and KYB

Reverifications help organizations keep identity, business, and compliance data current, defensible, and audit-ready over time. 

Instead of relying on outdated documents or one-time checks, reverifications allow you to request updated validations as your relationship with a customer, partner, or user continues. This guide explains when to use reverifications, how to request them, and what happens after completion.

What Are Reverifications?

Reverifications are requests for updated validation of previously verified information, such as identity details, business status, compliance checks, or financial records.

They are commonly used when:

  • A relationship extends over time (e.g., ongoing customer or vendor relationships)

  • Regulations require periodic rechecks

  • Risk profiles change

  • Financial or governance information needs to stay current

Each reverification produces an immutable record that proves what was verified, when it was verified, and under whose authority.

Why Use Reverifications in KYC and KYB?

Reverifications provide ongoing value beyond initial onboarding.

They help you:

  • Stay compliant with AML, KYC, and KYB requirements

  • Reduce fraud by detecting changes early

  • Avoid repeated manual document collection

  • Maintain an auditable record of due diligence

  • Scale compliance without increasing operational overhead

Instead of restarting onboarding, reverifications build on existing verified data.

What Types of Reverifications Can Be Requested?

Reverifications can apply to organizations or individuals, depending on the type of information being updated.

Common examples include:

  • Business status and registration checks

  • Certificates of good standing

  • Watchlist and sanctions screening

  • Bank statements and financial records

  • Identity and background checks

  • Officer, director, and ownership confirmations

  • Beneficial ownership and authority confirmations

  • Nonprofit or tax-exempt status verification

Some reverifications can be requested one time, while others can be set up on a recurring schedule.

How to Request a Reverification (One-Time)

Reverifications are initiated from the relevant KYC or KYB customer views, depending on whether you are re-verifying an individual or an organization.

For Individual Reverification (KYC)

Use this when you need to re-validate information for a specific individual customer.

How it works:

  • Navigate to KYC > Customers.

  • Open the individual’s profile.

  • Select Request Reverification.

  • Choose the reverification type.

  • Review the request details and estimated cost.

  • Submit the request.

After submission:

  • A task is created for the individual.

  • The individual completes the reverification in their ChainIT experience.

  • The validated result is shared back with you, with their consent.

For Organization Reverification (KYB)

Use this when you need to re-validate business-level, governance, or compliance information.

A key difference from KYC is that KYB reverifications allow you to specify who or what within the organization should be re-verified.

How it works:

  • Navigate to KYB > Customers.

  • Open the organization’s profile.

  • Select Request Reverification.

  • Choose the reverification type.

  • Select the target of the reverification:

    • The organization itself

    • Officers

    • Shareholders

    • Employees

    • One or more specific users

  • Review the scope, details, and estimated cost.

  • Submit the request.

Based on your selection:

  • Tasks are created for the appropriate individuals or entity.

  • Each recipient completes only the portion relevant to them.

  • Results are validated and associated back to the organization record.

This allows you to request precisely scoped reverifications without re-checking unrelated parties.

How to Set Up Recurring Reverifications

Recurring reverifications are available for verification types that need to remain current over time, such as financial records or periodic compliance checks.

Choosing Recurrence

When a reverification supports recurrence, you can enable scheduling during the request flow.

How it works:

  • Under Frequency, select Recurring.

  • Under Repeat on, select a recurrence (for example, monthly, quarterly, or annually) or select Custom to set your own interval.

  • (Optional) Configure when tasks are generated ahead of the due date by editing the Task Creation field.
  • Select an end date or condition.

For KYB, recurrence applies to the same target selection you chose initially (organization, officers, specific users, and so on).

Additional Settings for Recurring Reverifications

Recurring reverifications include additional controls to help manage timing and follow-through.

You can:

  • View upcoming, active, and completed cycles in the dashboard.

  • Track status across all recurring requests (Pending, In Progress, Completed, Overdue).

Each recurring cycle:

  • Automatically creates a new task.

  • Requires explicit completion by the recipient.

  • Produces a new, time-stamped verification record.

Nothing is reused implicitly; every cycle creates fresh, auditable proof.

What Happens After Submission

For both one-time and recurring reverifications:

  • The recipient receives a clear task with instructions.

  • The reverification is completed in the ChainIT app or portal.

  • Results are validated and recorded.

  • A new immutable verification record is created.

  • You receive the updated result in context.

This ensures every reverification provides current, defensible evidence, not just an update to prior data.

How Reverifications Support Compliance and Audits

Every reverification produces a tamper-proof record that includes:

  • Who completed the verification

  • What was verified

  • When it occurred

  • The context and authority under which it was performed

These records can be:

  • Reviewed internally

  • Used during audits

  • Shared with regulators or counterparties as proof of due diligence

This eliminates gaps created by expired documents or unverifiable screenshots.

Reverification Statuses You’ll See

Each reverification follows a clear lifecycle so you always know where things stand.

  • Pending – The request has been sent and is awaiting action.

  • In Progress – The recipient has started the reverification.

  • Completed – The reverification was successfully completed and validated.

  • Rejected – The recipient declined the request.

  • Overdue – The due date has passed without completion.

  • Cancelled – The request was withdrawn before completion.

Statuses are visible in the Business Portal and update automatically.

Best Practices for Using Reverifications

  • Use reverifications instead of re-onboarding a given customer.

  • Schedule recurring reverifications for high-risk or regulated data.

  • Align reverification frequency with your compliance obligations.

  • Review completed results promptly and address exceptions early.

Reverifications are most effective when treated as an ongoing governance tool, not a one-time event.