It is a requirement to use KYT and KYC if you want to work with banks?
Yes. Ivy needs Know Your Customer (KYC) to satisfy Bank Secrecy Act (BSA) and global AML requirements hashed into the blockchain and accessible as required.
And what about KYT? It is needed too?
Ivys technology will provide Know Your Transaction (KYT) information that greatly exceeds regulatory requirements as will be hashed into the blockchain and accessible as required.
whether it can function as notification to our device? so if anyone transacted with our account then there must be approval from our device? is there something like that in this app? thank you