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> doola is a financial technology company and is not a bank. Banking services provided by Piermont Bank; Member FDIC.

How does the actual bank fulfill KYC/AML requirements in this scenario?

hey! the bank will run KYC + AML and it's also why we require identification, full documentation on the company, as well as the beneficiary owners!

No way around KYC + AML, but can streamline process via formation + EIN + bank account integration!