KYB Verification One-Step Solution

The Know your business service is used to create a trusting relationship in business. It consists in verifying if a company is involved in illegal activities, money laundering, financing of illegal organizations or conducting suspicious financial transactions. The difference between KYB and customer verification is that in the first the responsible individuals or representatives of the firm are passing a verification procedure. Such verification is conducted due to the necessity to be sure of the cooperation legality.
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Automated KYB Verification and Compliance

Compliance through the Know Your Business system is a time-consuming process. It needs to be performed throughout the entire cooperation for AML adherence. Possible changes in the company require attention that is why the check needs to be repeated.

Let’s take a look on requirements to pass KYB:
1. Documents of the organization, which include company name, address, date of foundation. The more data you have, the better results will be.
2. Sanctions. The firm is checked in the lists of entities found to have engaged in illegal activities and whether sanctions have ever been imposed.
3. Media. Where, when, and in which context the Company has been mentioned. This is an additional reputation check.
4. Beneficiary verification. This is necessary to establish a possible connection with illegal activities or tax evasion.
5. Verification of the authorised person. We check documents to confirm who is Director or the person authorised to sign agreements and act on behalf of the company.
6. Open registers check. We double-check provided information with public corporate registers to confirm collected data and check whether the company is active or not.

Know Your Business for Industries

All companies providing certain services must undergo validation of the legitimacy of their business. This is what Know Your Business is for. Its application is relevant in many areas, such as:


Strict regulation of financial institutions ensures safety and security. These institutions are the most likely to be attacked by fraudsters. KYB will help banks to check the companies they will be partnering with for security. This will eliminate the possible risk of data or funds leakage and ensure that banks’ reputations are not damaged.

Legal sector

The identification allows determining the reliability of the company. If there is even the slightest risk of involvement in money laundering or other crimes, it allows finding out all the information in time and protect the company from further risks.

Insurance companies

Insurance companies will be able to identify risks from interactions with companies and individuals. This will reduce the possibility of losing time and money.

How can KYCAID help?

You've learned what is KYB, its benefits and how it can help to solve problems in your business. Today the identification services work online with little or no human intervention, minimizing errors or data inaccuracies. Information of any volume is checked automatically by the system. The output data also depends on its quality. This will affect the risk assessment of the business. If a potential partner is found to be involved in money laundering or financing an illegal organization, the system will let know. Your company will be safe with «Know Your Business».

KYCAID's “Know Your Business” solution allows finding out all the relevant information and minimize the risk of working with an unscrupulous organization. In the Business-to-Business segment, business identification means that you have confidence in the reliability and safety of the company you want to work with.

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