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

The amount of money a user has stored in a financial repository.

Learn what quick ratio stands for in financial terms and how to calculate it.

What is a gilt?

Investment funds that are often associated with riskier and shorter-term trading strategies.

Understand what compound interest means and how it's calculated

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

A mathematical test used to determine whether a claim is true or false.

Profit on an investment, expressed as a percentage of the investment.

The value of a company's assets relative to the number of shares it has.