AI-Powered KYB Verification Solutions In Corporate And Financial Sector

There are many factors and parties that contribute to the success of a business and its product lines ranging from vendors, suppliers, manufactures, logistics, and so on. They all are an essential part of a firm’s equity but the overall fame and recognition go to the firm and its products/services.

Similarly, the time when a firm misses the mark, no matter who or what was the prime source, the reputation of a mere company gets compromised in the market.

KYB verification solutions eliminate the chances of that happening in IDV. Prior to any partnership or customer onboarding, the AI-driven solutions verify the credibility of personal and corporate information seamlessly by validating it in secure digital facilities of regulators and intelligence agencies like the FBI, Interpol, and others.

KYB Verification Solutions for Document Validation

The corporate credentials of an organization or a platform are verified in a heartbeat by following this procedure of three simple steps.

  1. In KYB verification solutions, beneficial owners or legal associates of the business upload images of their personal ID documents such as photo-based national ID cards, driving licenses, passports, social security numbers, bank statements, and other records. Along with PII (Personal Identifiable Information), for corporate verification, additional documentation is asked for such as:
  2.  Official registration number of the firm
  3.  Authentic trading license
  4.  Annual Performance Reports
  5.  Bank statements and other general ledgers
  6. In the ​​automated KYB verification solutions, for validation of the provided documents, the AI models perform an OCR (Optical Character Recognition) scanning. Moreover, the OCR technology in the solution extracts every piece of information from the firm’s documents and verifies the data of the beneficiaries and his/her corporation in an eye blink.
  7. The UBOs of businesses take live selfies and upload them on the interface of KYB verification solutions so they can be authenticated along with documents by comparing the information against data warehoused in top-secret digital regulatory facilities and other intelligence agencies to ensure that the prospect entity is authentic and risk-free. Post the validation of the scanned documents, KYB verification solutions display the end results in real-time.

Digital KYB Solutions in Different Industries

The KYB verification solutions facilitate plenty of industries in ID verification and fraud prevention in a go. To name a few:

  • Online Banking
  • Insurance Companies
  • Commerce
  • Brokerage Entities
  • FinTech
  • Legal Sector

KYB Verification Solutions in Risk Management

At the preliminary phase of business confirmation for customers onboarding or forming a strategic alliance, other businesses and financial entities perform KYB verification solutions perform IDV checks on the firm prospect, and post the process, on basis of the solution’s output.So, a particular risk rating is assigned to the client profile that helps in managing association risk and monitors the client on repeated intervals of time. So, the derived results of AI-driven KYB verification solutions guarantee accuracy that helps in crucial decision-making.

The IDV checks find out doubtful leads, allegations, and past records of the prospect firm of being a part of unlawful activity, several other risk elements are detected in a go. For instance, KYB verification solutions notify the verifying businesses if the UBO is currently in a sanction or PEP list or the firm is boycotted in the market under serious charges and all.

Moreover, any negligence or poor verification standard can make the business lose a fortune. In 2020, almost $3.3 billion was lost to identity fraud.

Working Modes of KYB Verification Solutions

Onsite Mode

In this working mode, the IDV services provider acts as a bridge between the verifying firm or platform and the concerned prospect company. so, the IDV organization collects the required data sets from the corporation, verifies the authenticity of the information, and forwards it to the verifying bank or company

Offsite Model

Here, the verifying platform collects the prospect’s credentials and sends it to the KYB verification solutions provider for the output.

Evidentiary Proofs of Corporate Verification

To ensure the transparency of verifying business processes, the KYB verification solutions providers supplement the clients with imagery and video proof of business authentication. So, the system provides uninterrupted video recording of verification along with images of scanned IDs and corporate documents that get stored in the data sets of the verifying firms or platforms.


The innovative revolutions in the technology sector in business firms, digital payments, and financial entities have enabled businesses to globalize themselves and serve a large share of potential customers. So, acquire new market segments, small/big businesses seek alliances with others, form partnerships, and open business accounts in banks or requests for corporate loans. So, verify the originality of other parties, Digital kyb solutions verification solutions equip the banks and business firms by authenticating the corporate structure, personal and professional history of UBO’s and major stakeholders of the firm swiftly, with no errors, by AI-driven verification of the corporate documents and information. Moreover, the KYB verification solutions compare the provided info against data encoded in confidential digital data warehouses and facilities of regulatory and intelligence bodies in no time, reducing risk to zero.

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