RISK INTELLIGENCE – BUSINESS IDV
Verify business identity – with ease and authority
Discover our high velocity, low friction business verification solution – delivered via a single API.
Business verification for rapid onboarding
Business identity verification (IDV) verifies that the businesses you work with – such as corporate customers, marketplace sellers and suppliers across the world – are legitimate entities.
These checks are increasingly required by global AML and compliance regulations and are a crucial element of collective global efforts to mitigate fraud, money laundering, terrorist financing risks and more across the financial ecosystem.
While these checks are necessary and beneficial, they can also be onerous to conduct, especially overseas. The checks often require human intervention, knowledge of hundreds of international business registry systems and can be time-consuming and complex to complete.
Our enhanced business intelligence capabilities simplifies business registry verifications and delivers the help you need to onboard business entities quickly, accurately and cost-effectively.
Use Case
Enable efficient, accurate onboarding
Knowing that a business you work with, whether as a customer or supplier, is legitimate is incredibly important. At worst, the world is constantly in a battle against pervasive, global financial crime in which shell corporations are increasingly used to launder money. But at a smaller scale, simply verifying the correct details for a business, such as verifying that their business or tax ID number matches against the correct local registry can be important for compliance with taxation regulations and setting a customer up in your CRM or ERP system.
Conducting robust business IDV means:
- Verifying that a business exists on the relevant local authoritative registry
- Validating that business name, business or tax ID and registered business address match
- Confirming the type of company structure
- Assessing any risk with recently registered businesses or businesses that show as deregistered, closed or insolvent
- Making informed decisions about the businesses you work with
Our API is a single source of truth that streamlines the global Business IDV process, reduces manual effort and improves operational efficiency.
Our solution
Optimised IDV checks – without the manual effort
Business IDV can be challenging, as the scope and complexity of the data that needs to be verified to complete authoritative checks continues to grow.
Unreliable sources, a lack of knowledge of sources of authoritative data and poor data quality can complicate the process, lead to non-compliance and ultimately leave your business exposed to fraud.
Our innovative, streamlined solution addresses these challenges by providing a single source of truth, and removing the need for costly, resource-heavy human intervention. Input data is checked against authoritative sources in over 50 countries – and a complete, verified result is delivered, quickly and efficiently.
With corporate registries now being opened in a way that hasn’t been offered in the past, we have taken the opportunity to access trusted, primary source data so that our customers can benefit from transparent, thorough and complete KYB and IDV checks.
Features and benefits
The tangible benefits of automated KYB and business IDV
Our single, comprehensive API streamlines the process of gathering and verifying business information.
Automation delivers rapid onboarding, even for high volumes of entities, and ensures that essential compliance does not slow the pace of business.
We deliver a low friction solution, because corporate customers, suppliers and other entities have consumer-like expectations for speed and efficiency.
Our solution handles the complexities of different jurisdictional regulations and data availability.
Streamlined IDV processes help you manage risk effectively, while taking the heavy lifting out of compliance with regulations, from Global AML requirements through to local taxation and internal company due diligence needs.
Data is verified through our authoritative, independent sources to ensure accurate, complete verification checks that enable better decisions.
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