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Know Your Customer (KYC)

Know Your Customer (KYC)

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

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

More terms

Stock Exchange

A physical/digital place where stockbrokers and traders can buy and sell securities.

Net Income (NI)

The money a firm is left with from sales after subtracting taxes and different business costs.

Maturity value

What's the maturity value of a bond?

Junk Bond

A form of debt investment that carries higher risk because of the likelihood that the issuer will default.

Account balance

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

Compound interest

Understand what compound interest means and how it's calculated

Quantitative easing

Find out what quantitative easing is and how central banks use this monetary measure to encourage economic growth.

Unicorn

A startup valued at over £1 billion. They are rare, hence the name.

Depository

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

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