Mitigating Business Verification Complexity with The KYB in Mena Region.

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The KYB Expands its Reach to 250+ Countries – Offering B2B Verification Globally

26 December, 2023

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London, England – December 01, 2023 – The KYB, a Know Your Business compliance solution provider, is announcing a vital update to stakeholders and journalists. The company has successfully expanded its operations across 250+ countries in response to rapidly growing customer demand globally and empowering international businesses, forming secure and trusted B2B partnerships.

According to the United Nations, every year, 5% of the world’s GDP, or $800 billion, is laundered, damaging the financial sector, tax collection and promoting corruption. It makes it difficult for legitimate businesses to compete in the market, harming the country’s economic growth. Today, governments worldwide are imposing strict regulations on KYB verification to ensure the on-spot detection of shell companies, enabling businesses to validate and deter illegitimate alliances.

Using different security measures, the KYB helps global businesses verify their clients’ verisimilitude. It utilises the registry screening method to scan the entity from over 250+ government databases, making it easy to spot high-risk clients. From the KYC to fetching the ultimate beneficial owners of the business, The KYB supports all significant corporate verification checks, fostering trusted and secure partnerships.

“For a business, partnering with an illegitimate shell or money launderer company can cause a significant financial loss, reputational damage, and legal consequences. Looking at the gap in the industry, we introduced The KYB, a dedicated platform for corporate verification aimed at building trust among businesses and eradicating fraud from the industry,” said Ilma Faljic, Marketing Executive at The KYB.

Key features of The KYB platform:

  • Business Information Collection
  • Business Verification
  • Risk Assessment
  • UBO Identification
  • Perpetual KYB
  • Centralised Report

 

The business can simply enter the client’s details to perform a complete KYB authentication, backed by 250+ government registries for a secure and trusted screening process. To ensure every result is accurate to the highest level, The KYB incorporate MLROs to cross-check the data and make the process hassle-free.

About The KYB

The KYB is dedicated to providing business verification services, helping FI and other businesses eliminate fraud risks, enable secure transactions, and fortify trust in the digital landscape.  It sets itself apart with AI-driven precision, offering real-time AML screening,  business verification, and fraud prevention for unrivalled business compliance. Headquartered in Sussex, England, The KYB ensures that no fraudster can access the business’s data and services and onboard customers safely and quickly whilst allowing businesses to comply with know-your-business regulations.

For further information, please contact:

Ilma Faljic
Marketing Executive | The KYB
[email protected]
+387 62 709 851

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