What is 'Know Your Customer (KYC)'? Definition & meaning

A legal requirement for financial firms to understand exactly who their customers are. Used to prevent money laundering and terrorist financing.

More terms

Zero-Sum Game

A situation in which one person's gain is another's loss.

Venture Capital

A type of financing that investors provide to startups, who sometimes announce getting said financing in TechCrunch, to big fanfare.

Depository

We look at what is a depository and what role they play in keeping markets work.

Inflation

The increase in the prices of goods and services over time, and the process by which money loses its value.

Professional Client

An investor that is able to meet several regulatory criteria.

Fixed Income

An investment that provides a fixed rate of return, often over a specific set of time.

Collective investment scheme

Learn what's a collective investment scheme

Retail Prices Index (RPI)

An index published each month by the Office for National Statistics, which measures the level of retail prices in the UK. Cash flows on all index-linked gilts are linked to the RPI.

Earnings per share

We look at what earnings per share mean and how to calculate it

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Know Your Customer (KYC)