How does the individual identity and verification process work?

As a regulated financial entity, Ivy is required to verify the identity of certain individuals associated with your company in accordance with the Anti-Money Laundering and Counter-Terrorist Financing Act of Finland (444/2017).

The individuals typically subject to verification include:

• Legal representatives (e.g., company directors)

• Authorised signatories

• Shareholders or ultimate beneficial owners (UBOs) who hold equity above a defined threshold

These individuals will be prompted to complete a short identity verification process, which may involve:

• Uploading a valid government-issued ID

• A selfie or video verification step

• Additional checks depending on risk classification and jurisdiction

The exact thresholds and requirements are outlined in your onboarding questionnaire and may vary by business type or structure. Completing this step accurately ensures compliance and speeds up your activation process.