Business Verification
Streamline your business verification processes with Infopass.
We will help you create a comprehensive and efficient process used to identify
and verify the identity of a business or organisation. Know Your Business checks ensure a
company understands the corporate structure of a business client.
Business Verification used for -
- Business Verification
- Documents Check
- Beneficiaries Check
Trusted by Companies
A Comprehensive Approach to Business Verification
Screening
Automatically check companies and individuals against
Sanctions lists and reputational
risk media. On top of this, set up periodic monitoring to ensure you are
informed of any changes.
Collect Corporate Documents
Ensure you know everything about your clients with remote
company information collection from local and global registries, minimising
operational costs and creating a convenient experience for your clients.
Pre-fill KYB Forms
Automatically complete customizable forms adhering to KYB
regulations. Control question sequence, responses, and form appearance to ensure
compliance and tailored user experience.
Identify Representatives
Regardless of the size or location of your business clients,
the representatives can quickly verify their identity and status to adhere
to anti-money laundering regulations.
Discover UBOs
Automate Ultimate Beneficial Ownership (UBO) discovery to
streamline business verification. Gain insights into ownership structures,
prevent fraud, and ensure compliance, all within a single interface.
Business Verification Flow
1
We help you create a custom verification form
2
Applicants fill out the form or information is pre-filled from
business registries
3
Company representatives are automatically verified
4
You make the final decision on contracts
5
To stay compliant, you can choose to set up continuous monitoring
Fight Business Identity Fraud From the Start
Business identity theft commonly stems from fraud
presentation at verification. Fraudsters acquire a company’s data and falsely represent it to
apply for credit, sell illegitimate wares or commit further fraud on a platform under the guise
of a legitimate business.
Confirm the Submitter Works for the Business
Infopass helps organizations combat business identity
fraud at verification. A simple, low-friction check verifies the person’s employment at the
company. That natural extension of the business verification process can mitigate fraud and
provide an additional risk signal for final decisioning.
One Platform to Streamline Your Entire KYB Process
FAQ
Know your business verification is the process financial
institutions and other companies must go through to confirm the legitimacy of any
corporate clients. It allows businesses to avoid money laundering attempts as well as
recognise the ultimate beneficial owner of any client. An efficient KYB verification
process not only protects that company but does so in a timely manner.
KYB often requires considerable time and effort. Automated KYB reduces
costly manual checks, helps ensure accuracy with in-depth reporting and can improve risk
evaluation to enhance fraud protection.
Infopass’s identity verification takes less than 60 seconds on
average. However, this all depends on the process and system your IDV provider uses.
Where automated processes can usually be done in a few minutes or hours, manual
processes might take a few days or even weeks.
Business verification services are tools that allow companies to
learn about another company before entering into a business relationship with them. This
is required for honest business practices, money laundering prevention, and compliance
with other regulations.