KYB stands for Know Your Business, which is a due diligence process that companies use to verify the identity and legitimacy of their business partners or customers. The goal of KYB is to ensure that companies are not involved in illegal activities, such as money laundering, fraud, or terrorism financing, by verifying that they are dealing with legitimate and reputable business entities.
UBO stands for Ultimate Beneficial Owner, which is a term used to describe the natural person(s) who ultimately own or control a legal entity or arrangement, such as a company or trust. The UBO is the person(s) who directly or indirectly, through a chain of ownership or control, own or control more than a certain percentage of the shares, voting rights, or ownership interest in a company.
AML stands for Anti-Money Laundering, which refers to a set of laws, regulations, and procedures designed to prevent, detect, and report illegal activities related to money laundering and terrorist financing.
Enhanced Due Diligence (EDD) is a more thorough level of due diligence that companies use, to investigate higher-risk customers or business partners. EDD is a risk-based approach that requires companies to conduct additional checks and gather more information beyond the standard due diligence process, in order to better understand the nature of the risks posed by the customer or partner.
The KYB has obtained several certifications including International Organization for Standardization (ISO 27001) certification and GDPR compliance Certification. The KYB ensures ongoing security management in a detailed manner.
The KYB is based on basic AML/CFT regulations’ requirements, however depending on laws and risk assessments of different countries this flow can be customized.
No, We comply with GDPR and other applicable local laws.
We accept invoices, credit cards, and bank transfers.
Yes, to do so please contact [email protected]
We offer solutions to industries: Fintech industries, Insurance, banking, cryptocurrency, healthcare and Ecommerce. However our solutions can be applied to several other industries as well.
Business Verification Process
Business verification is the process of confirming the legitimacy and accuracy of information related to a company, such as its legal name, address, registration number, ownership, and operational status.
The KYB allows its users to customize the flow of business information collection from their clients by using Customized Questionnaires or The KYB Journey Builder. We also allow users to use our pre-designed templates for collecting or uploading business information.
Business Information is verified by screening it against official business registries also the business is screened from AML watchlists, PEP’s watchlists and Adverse media screenings.
The KYB verifies the business owners’ identity with their identity verification process by performing several KYC checks on them.
Alerting and Monitoring module allows the users to monitor a business perpetually by following the company and receive notifications regarding any change in the companies information in official data sources.
The KYB provides data from official data sources covering more than 250+ countries and states.
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KYB Solutions provide multiple plans according to your requirements but you can feel free to contact us if you have any queries or if you need to consult us for any clarification.Contact Us