Every financial institution is required to run KYC/AML checks on their clients to comply with government regulations. As part of our normal account opening process, we confirm your details with a reporting agency to verify your identity (and make sure we are not dealing with any unsavoury types!). We run an identity check on your details, not a credit report, meaning the inquiry will not hurt your credit score or even be visible to other third parties who view your credit report. We do this for your protection so that nobody can abuse your identity or defraud you and we are authorised by the Financial Conduct Authority so rest assured that your information is kept secure!