Why Verification is Important
Identity verification helps us combat potential fraud and keeps us compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory requirements. By confirming your identity through Plaid, we protect both your account and our platform from unauthorized access. The information you provide during this process is handled with strict confidentiality and is used solely for verification purposes in accordance with federal financial regulations.
KYC and AML
KYC (Know Your Customer) is a legal requirement that helps financial platforms verify the identity of their users. This process is designed to prevent identity theft and financial fraud.
AML (Anti-Money Laundering) is a broader set of practices and laws that help prevent money laundering and other financial crimes.
Hill complies with both KYC and AML regulations to protect our platform, our investors, and the integrity of our financial system.
What to Expect
We partner with Plaid, an industry-leading verification service, to securely authenticate your identity in compliance with financial regulations. This quick process helps us combat potential fraud.
To complete verification:
Plaid will guide you step-by-step through the personal identification requirements, including full legal name, date of birth, current address, and Social Security Number
You may be asked to upload a high-resolution photo of a valid government-issued ID (driver's license, passport, or state ID)
The system will perform real-time verification against official databases
Most verifications only take about 2-3 minutes. It is important to note that all data submitted through Plaid is encrypted using the highest security protocols.
If verification fails for any reason, don't worry! We will manually review your case and get back to you within 24 hours.
Common Questions
Q: Why do I need to provide my ID?
A: The purpose of identity verification is to ensure that you are who you say you are. We’re legally required to be compliant with the SEC and FINRA’s laws to help combat potential fraud.
Q: Is my information safe?
A: Yes. Plaid encrypts and secures your data using bank-level security protocols.
Q: I’ve used Plaid before. Will I still need to upload my ID?
A: Maybe not. If you’ve completed identity verification with Plaid in the past, Plaid might have you skip the ID upload step.