What this KYC/AML budget includes
- Document OCR + validation
- Biometric liveness check
- Sanctions list screening (OFAC, UN)
- Risk scoring engine
- Compliance audit trail
- Admin review panel
- Webhook notifications
- 12-month post-launch support
Why does compliance software cost so much?
KYC/AML platforms are among the most expensive software products to build because every component has regulatory implications. The audit trail must be tamper-proof, the risk scoring engine must be explainable to regulators, and the liveness check must meet anti-spoofing standards.
Integration with third-party screening providers (LexisNexis, Refinitiv, ComplyAdvantage) and biometric vendors adds complexity and requires legal review of data processing agreements in each jurisdiction.
Frequently asked questions
- How much does a KYC platform cost?
- A full KYC/AML platform for LATAM costs around $123,300 USD and takes 13 months with a blended team at ~$45/hour. This is the most complex and heavily regulated product type we build. Compare with the basic KYC included in the Fintech App budget ($86,500 / 9 months).
- What compliance does it cover?
- KYC (document validation + biometric liveness), AML (OFAC/UN sanctions screening, transaction monitoring), and a risk scoring engine. Coverage is configurable per jurisdiction (Colombia, Mexico, Peru, Argentina have different specific requirements).
- Does it include AML screening?
- Yes. OFAC SDN list, UN consolidated sanctions list, and configurable local watchlists are included. The risk engine generates SAR-ready reports. Real-time screening API fees from third-party data providers are separate.
- Do I need a full KYC/AML platform or just basic KYC?
- If you're building a fintech product for regulated financial services (lending, payments, crypto), you likely need the full platform. For simpler identity verification (SaaS, marketplace), basic KYC included in the Fintech App budget may suffice.