Solo Tests Reusable KYC Certificates For Banks And Fintechs
Banking Dive reported that Solo has demonstrated a regulator-coordinated data-sharing model that could let banks and fintechs reuse audited KYC and KYB checks.
A Banking Dive article described a regulator-coordinated Solo pilot testing reusable customer-verification records for banks and fintech partners, replacing repeated onboarding checks with audited evidence from another regulated institution.
The Wednesday pilot was developed with the Treasury Department, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corp. It addresses a bank-fintech partnership problem in which one regulated company has already completed identity checks, but another institution still needs examination-ready proof before relying on that work.
Network Records Carry The Verification Work
Solo, a consumer reporting agency, is using KYC and KYB certificates for institutions that join the network.
A bank provides its customer-information-program policy and verification requirements; the system then looks for another regulated institution whose earlier checks meet or exceed those requirements for the same customer.
Georgina Merhom, Solo's founder and CEO, stated that a requesting bank receives a network-audited record when the comparison produces a match.
Solo reviews the institution's attestation, checks the evidence behind the identity steps, and creates a certificate that another partner can use.
Audit Evidence Is The Operating Constraint
The model is designed to lower enforcement risk for banks that depend on fintech partners for customer vetting, especially where regulators question whether controls satisfy Bank Secrecy Act or know-your-customer expectations.
Merhom emphasized that Solo does not ask a bank to accept a partner's judgment on trust alone.
The company compares the completed work with the requesting bank's own policy, excludes unsupported steps, checks the claimed work independently, and retains supporting records for supervisory review.
Earlier Bank Data Product Sets The Context
The pilot follows a Solo service introduced last year for bank-to-bank customer-data exchange.
This earlier product was characterized as Zelle-inspired and positioned outside third-party aggregator rails such as Plaid.
Solo is pitching reusable verification as a way to keep customers from abandoning onboarding when repeated checks slow the process.
Former Consumer Financial Protection Bureau acting director Mick Mulvaney has been identified as a Solo adviser since October 2025.
The next operating condition is network acceptance: banks and fintechs must decide whether Solo's audit records are sufficient for examinations, whether enough institutions join, and whether customers accept broader reuse of their verification data.
