KYB Verification One-Step Solution
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.
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.
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 will be able to identify risks from interactions with companies and individuals. This will reduce the possibility of losing time and money.
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.