How to Enhance SMB Onboarding Efficiency with KYB
Know Your Business (KYB)
Build trusted relationships with streamlined business onboarding
- Auto validate companies in all 50 states in America
- Tailor your onboarding process to the risk of the customer
- Seamlessly integrate within the onboarding journey
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A KYB solution that delivers multi-dimensional value
to onboard a customer
By automating the KYB workflow without compromising on risk.
Increase in conversion
Achievable by accelerating the speed at which accounts are opened.
Increase in cases processed per month
Without increasing headcount by using dynamic risk scoring to improve case allocation.
How is KYB from ComplyAdvantage different?
Multi-layered risk scoring
- Drive automation: Enable straight-through processing, escalation to senior staff, and more.
- Accurately model your risk policy: Our highly configurable system enables you to improve the efficiency of the onboarding flow.
World’s only real-time risk database
- Confidently mitigate risk: OFAC lists are updated every 15 mins.
- Reduce false positives: Improve the accuracy of your results with our leading matching technology.
- Automate ongoing monitoring: Never miss changes to your customers’ risk.
“As a digital trade finance platform, automated onboarding and efficient KYB is critical for 40Seas. ComplyAdvantage’s KYB solution was really easy to get up and running.
We’re able to verify our customers in seconds, improving the customer experience and ensuring we can mitigate risk effectively”
~ Igor Zaks, Co-founder and Chief Risk Officer, 40Seas
How does the KYB process work?
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Know Your Business FAQs
KYB by ComplyAdvantage helps you reduce the cost of customer onboarding while delivering a better experience and protecting the business from high-risk business relationships. With our easy to use, unified KYB and AML management platform, you can enhance your decision making processes and reduce friction by utilizing the solution in your internal systems through a REST API.
Yes. Data relating to UBOs, directors, and other associated entities can be added to each created case. This includes client-declared information, details you may have retrieved from other regional registries (e.g., UK Companies House), and information garnered through analyst investigations.
Yes. TIN/EIN numbers can be checked to ensure they match official records.
Through the solution’s dynamic risk scoring functionality, you can apply your own risk formula and get alerted if the score updates due to a change in perceived risk.