Industry-first solution automates Know Your Business (KYB) and Know Your Customer (KYC) workflows to quickly convert, control and integrate new business customers
SAN FRANCISCO, June 8, 2022 / PRNewswire / – Person today launched the only end-to-end solution that allows companies to configure and automate KYB and KYC verification processes to meet compliance requirements, all from a single platform. Now, companies can simplify the orchestration of KYB and KYC workflows to enable their customers to provide a secure and streamlined identity verification experience.
“The KYB and KYC frameworks safeguard organizations by requiring them to verify that the companies and customers they choose to work with are legitimate. However, traditional control processes are highly manual, complex and error-prone, which makes execution difficult. of operations and compliance teams carry out effective audits, ”he said Rick Song, CEO, Persona. “Another big challenge is collecting the data needed to perform thorough KYB and KYC verification from different sources and platforms. With our new solution, companies can automate and customize the entire end-to-end process to provide a is an easy, frictionless experience for both their end users and their team. “
The features and benefits of Persona’s KYB solution include:
- End-to-end KYB and KYC logic: Personalize the way you collect and verify information about companies and individuals. Automatically contact the company’s Ultimate Beneficial Owners (UBOs) with KYC streams. Automate decisions based on compliance and risk criteria and / or report borderline cases for manual review.
- Robust KYB and KYC Check Set: Conduct corporate research, adverse media watchlists and screenings, and more. Verify supplemental business documentation such as business records or certificates of incorporation with fraud detection checks and person verification via government IDs, selfies and database checks.
- Dynamic collection of information: Create themed flows with customizable screens and collection logic, and customize user flows based on real-time signals. Collect any mix of information and self-declared documents from companies and individuals, from articles of incorporation to the contact information of the beneficial owner.
- Consolidated survey view: Consolidate all business and beneficial owner information, including business registrations and addresses of all identified jurisdictions, into a unified case view for KYB audit and investigation. Cross-referencing beneficial owners through their KYC audits and business records.
- Follow your customers: Automate actions like sending reminder communications to users, closing Zendesk tickets, and updating your CRM with third-party integrations.
Already a number of fast-growing companies, including Branch and Dapper Labs, are using Persona’s KYB solution to automate their KYB and KYC verification processes.
“We want to automate the decision-making process as much as possible during KYB and KYC. Persona allows us to do this and saves us time, but also ensures that we can be flexible in changing our workflows and rules as we discover new loopholes,” he said. Amanda Hodgetts-MartinRisk Management Director at Branch.
ON THE PERSON
Persona offers a verified identity infrastructure that gives businesses the building blocks they need to securely collect, verify and make decisions about customers, be they individuals or other companies, along with automation and orchestration tools to simplify whole process from start to finish. Founded in 2018, Persona is headquartered in San Francisco and is available in over 200 countries and 20 different languages. Persona serves any business that needs to verify their customers online, including retail, fintech, market, delivery services, real estate and hospitality, human resources, edtech, legal services, home and childcare services, and more . For more information, visit https://withpersona.com/