What is KYC?

KYC (Know Your Customer) is a due diligence process used to verify customer identity. KYC ensures customers are genuinely who they claim to be.

Why KYC is Required

Vield Capital is a Credit Representative under an Australian Credit License and is required to comply with:

  • Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth)
  • Australian Credit Laws

These laws require us to verify your identity before providing financial services.

Verification Providers

Vield uses two trusted third-party verification providers:

FrankieOne (Frankie Financial Pty Ltd)

A leading identity verification platform that performs digital identity checks and document verification.

BronID (Brontech Pty Ltd)

Provides additional verification services and business identity checks for commercial loan applicants.

Documents Required

For Personal Loans:

  • Government-issued ID: Valid driver's license or passport
  • Proof of address: Recent utility bill, bank statement, or government correspondence
  • Personal information: Full name, date of birth, residential address

For Commercial Loans:

  • Company details: ABN/ACN, registered business name, company structure
  • Ultimate beneficial owners: Full names, addresses, dates of birth
  • Directors: Full names, addresses, dates of birth
  • Authorized users: Details of individuals authorized to operate the account
  • Government-issued ID: For all directors and beneficial owners

Verification Process

Step 1: Submit Information

Provide your personal or business details through the Vield app or web portal.

Step 2: Document Upload

Upload clear photos or scans of required identification documents.

Step 3: Automated Verification

FrankieOne and BronID perform automated checks against government databases and identity registries.

Step 4: Manual Review (if required)

If automated checks are inconclusive, our compliance team may conduct a manual review.

Step 5: Verification Complete

Once approved, you'll receive confirmation and can proceed to deposit collateral and apply for a loan.

Verification Timeline

  • Standard processing: Usually completed within 24 hours
  • Complex cases: Can take up to a few days
  • Commercial applications: May require additional time due to business verification requirements

Allow 24 hours before contacting support if your verification is pending.

If Your Verification is Rejected

If verification is unsuccessful, you will:

  • Receive an email explaining the reason for rejection
  • Be given the opportunity to provide additional documentation
  • Have the option to resubmit your application with corrected information

Common reasons for rejection:

  • Expired identification documents
  • Poor quality photos or scans
  • Mismatched information (e.g., name on ID doesn't match account details)
  • Incomplete business documentation
  • Unable to verify identity against government records

Information Security

All information you provide for KYC verification is:

  • Encrypted during transmission and storage
  • Handled in accordance with Vield's Privacy Policy
  • Shared only with FrankieOne and BronID for verification purposes
  • Protected under Australian Privacy Principles
  • Never sold or shared with third parties for marketing purposes

Keeping Information Current

You must notify Vield if your circumstances change:

  • Change of address
  • Change of employment status
  • Change of name
  • Changes to business structure or ownership

Failure to update your information may result in account restrictions or suspension.

Need Help?

Email: support@vield.io

Phone: (02) 9157 9669

Response time: Within 1 business day