Why does TrueLayer ask for a Director's date of birth (DOB) and address?

At TrueLayer, our commitment to regulatory compliance requires us to collect specific information during the onboarding process.

Our primary need is to identify and verify the directors in their entity, meaning we require documentation that clearly lists the individuals holding director positions within your entity. 

• Directors:
   
  • Documentation clearly listing all individuals holding director positions within your entity.
  • Date of Birth (DOB) and residential address for each director to facilitate automated verification checks.
  • Secondary Verification (if automated check fails) A copy of the directors's ID proof will be requested.
• Ultimate Beneficial Owners (UBOs):
   
  • Initial Verification: Date of Birth (DOB) and residential address for all UBOs to conduct automated verification checks.
  • Secondary Verification (if automated check fails): A copy of the UBO's ID proof will be requested.

These requirements enable us to fulfill our Know Your Customer (KYC) obligations efficiently.