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Customer Identification Program (CIP)

Overview

The Customer Identification Program (CIP) is a requirement under the USA PATRIOT Act that obligates US financial institutions to verify customer identities when opening accounts. It helps prevent terrorists and criminals from exploiting the US financial system.
CIP requires collection of key information such as name, address, date of birth, and identification number, followed by verification using documents or databases. It is one of the pillars of KYC in the US.

FAQ

Related Terms

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Know Your Customer (KYC)
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Customer Due Diligence (CDD)
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BSA (Bank Secrecy Act)

Stay ahead of risk with Signzy

Explore tools that help you onboard, monitor, and verify with confidence

One Touch KYC

One Touch KYC

Simplify the Know Your Customer (KYC) process with AI and sophisticated fraud detection algorithms to provide a seamless, efficient, and highly secure user verification.

Database Verification

Database Verification

Verify user information instantly by connecting to trusted databases across jurisdictions. Ensure accuracy, compliance, and faster onboarding with real-time data checks.

Biometric Verification

Biometric Verification

Authenticate users securely using facial, fingerprint, or liveness biometrics powered by AI. Prevent identity spoofing and stay compliant.

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