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What is KYS (know your supplier)?
KYS is a structured, technology-driven approach to verifying and monitoring suppliers in real-time. It combines identity verification, ownership authentication, risk assessment, and compliance validation into a single, streamlined process—ensuring businesses engage only with verified, ethical, and compliant suppliers.
Why KYS matters
Many companies today struggle with:
Fragmented supplier data : Supplier information is scattered across different platforms, making verification inefficient.
Regulatory & ESG compliance : Companies must ensure their suppliers meet ethical, environmental, and legal standards.
Fraud & risk exposure : Illegitimate suppliers pose financial, operational, and reputational risks.
Supplier validation : There’s no instant, global way to verify diverse suppliers, requiring businesses to go through redundant certification processes.
KYS addresses all of these challenges by creating a single source of truth for supplier identity, compliance, and performance.
KYC (know your customer)
Verifies individuals
Ensures financial legitimacy
Prevents identity fraud
Used by banks, fintech, and financial institutions
KYB (know your business)
Verifies businesses
Confirms business ownership & registration
Prevents shell companies & money laundering
Used by corporations & financial entities
Verifies suppliers
Verifies businesses
Confirms ownership, compliance, and certifications
Prevents supplier fraud, misrepresentation, and unethical sourcing
Used by procurement, risk management, and compliance teams
The future of supply chain trust: A call to action for KYS
Corporations already vet their customers and business partners—why not their suppliers? In today’s global economy, KYS should be as fundamental as KYC and KYB.
By implementing Know Your Supplier (KYS), we can:
Reduce fraud and mitigate supplier risk
Streamline supplier onboarding and compliance
Enable corporations to trust and support verified diverse businesses
Ensure supply chain sustainability and ethical sourcing
KYS isn’t just a new compliance requirement—it’s a business imperative for the future of global supply chain transparency, risk management, and supplier inclusion.
It’s time to elevate supplier verification to the same level as customer and business verification.
Do you really know your supplier?
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