Know Your Business (KYB) Verification Automate Global Business Verification for Strong Compliance
Comply with strict KYB regulations. Access a broad range of global and local sources and data that’s updated every 15 seconds to verify more than 700 million business entities. Choose the service that suits your needs, from high-level business insights to verification depth that meets stringent UBO authentication requirements. Trulioo offers flexible, global verification capabilities – tailored to your KYB compliance needs – that deliver accurate, actionable results.
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Data Intelligence to Drive Business Onboarding
Trulioo gives you the complete business posture with an array of global and local data sources and the contextual insights that enable risk-based decision-making. Access diverse, authoritative sources – such as government registries, credit bureaus and proprietary information – that establish the legitimacy of any business.
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Achieve Compliance Around the World
Quickly set up KYB, KYC and AML workflows for different verification tiers. Choose from multiple integration options and easily configure your onboarding rules and logic, the data sources you call and the sequence in which you call them. Adjust in real time to shifting global regulations and new market requirements.
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Solve Data Discrepancies With Artificial Intelligence
Trulioo AI and natural language processing address global data disparities by normalizing, standardizing and translating documents in hundreds of different languages. Our proprietary intelligence engine collates data and supports fuzzy matching on inputs and responses from third-party data sources.
Solution Sheet
How Business Verification Affects Your Operations
Dig deeper into strategies to make business verification work for you.
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Make Data-Driven Decisions With Complete Business Profiles
Accurately Verify Business Entities Worldwide
Quickly perform standard business verification with automated searches for business numbers, names and addresses. Trulioo ensures up-to-date local and global data for efficient first-layer verification across business sizes.
Complete Business Transparency and Graphing
Trulioo accelerates business verification, transforming weeks of manual work into seconds. Conduct KYB and KYC checks in one workflow with fresh, accurate business data. Apply advanced due diligence to efficiently verify business entities and stakeholders. Access a detailed map for complete business transparency.
Fight Business Identity Theft
Business identity theft commonly stems from fraud presentation at onboarding. Fraudsters acquire a company’s data and falsely represent it to apply for credit, sell illegitimate wares or commit further fraud on a platform under the guise of a legitimate business.
Verify the Identity of the Person Submitting the Business
Establish a first layer of fraud defense by conducting a low-friction verification of a person submitting a business for onboarding. That data point can also be used as an additional risk signal for final decision-making.
Comply With Regulations Worldwide
Trulioo customers are subject to oversight by numerous regulatory agencies, including the FCA, CySEC, FinCEN, AUSTRAC, PPATK and FINTRAC. The world’s largest organizations rely on Trulioo to meet global regulatory standards, such as AML/CFT, DAC7 and the INFORM Consumers Act.
With Trulioo, we can do both KYB and identity document-based KYC checks with one solution, turning a previously cumbersome onboarding process into one that is quick and easy. This has enabled us to remain compliant across multiple continents and provide payments solutions that accelerate our customers’ businesses.”
KYC and KYB Are Better Together
With holistic, integrated capabilities, organizations can verify businesses and their owners while delivering fast, compliant and automated onboarding experiences.
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Elevate Value
Optimize onboarding costs with increased speed, accuracy and coverage.
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Achieve Compliance
Meet regulatory requirements with deep-dive UBO identification and verification.
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Gain Flexibility
Customize verification to meet changing needs and evolving risk and fraud assessments.
Expand Your Global Reach With Trulioo
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Buyer’s Guide
Introduction to Business Verification
Learn how automation, layered capabilities and state-of-the-art technology can accelerate global onboarding while maintaining security and compliance.
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Frequently Asked Questions
Learn more about key industry terms and concepts.
Gathering information about a company and verifying the data through reputable sources helps detect if a company is fake.
Know Your Business is a set of compliance procedures that determine if a company is legitimate. It includes due diligence that assesses the risk of doing business with the entity.
An ultimate beneficial owner is a real person who owns or controls a business or legal entity. Various legal structures can make it difficult to identify UBOs.
KYC is about conducting due diligence on people, while KYB is about doing the same for business entities. Business documentation and financial activities are generally more complex and pose a higher risk, so the verification and risk assessment requirements are more stringent.
KYB often requires considerable time and effort. Automated KYB reduces costly manual checks, helps ensure accuracy with in-depth reporting and can improve risk evaluation to enhance fraud protection.
A typical KYB process includes verifying business documentation, analyzing the company profile, performing a risk assessment, determining entity ownership and control, implementing enhanced due diligence and conducting ongoing monitoring.