Skip to content

Glossary

CIP

Customer Identification Program

The foundation of identity verification.

A CIP is the documented procedure by which an institution establishes who a customer is before opening an account. For a business customer that means the entity's legal name, address, and taxpayer identification number, verified against evidence.

See also

CDD

FinCEN's four pillars for verification.

KYB

Verifying a business customer and the people behind it.

Entity verification

Confirming a business exists and is what it claims.

← All termsTalk to us →