What We Do

TrueBiz verifies business identity by combining the processing of company documents, together with searches in best-in-class data sources.

Who Has This Problem

Financial services companies onboarding business accounts often revert to manual review because existing data sources can not provide a complete picture of the business.

As a result, companies often rely on the business to provide supporting documentation — which is then manually reviewed. During the process they might review:

• An Articles of Incorporation to verify business identity
• A By Laws document to verify the shareholder structure
• An invoice to validate the nature of the business

The back and forth to capture the correct documents can go on for weeks. This slows down onboarding and creates a frustrating customer experience.

How TrueBiz Solves KYB

TrueBiz validates the different documents required for each step of the verification process. This is combined with searches in best-in-class data sources. This range of tools enables our clients to convert more customers, with less effort.

For our clients, this results in:

1. Speed up time to activation: we validate documents in seconds, preventing a slow back-and-forth to capture the correct paperwork. This shaves days off revenue realization.
2. Reduce manual review: we help identify the ~10% of cases that actually need further attention. You can redeploy the majority of your human analysts’ time and skill elsewhere.
3. Scale: we remove friction from the onboarding process, so you can grow faster.

Our process takes seconds – not days, so Financial Institutions can efficiently meet Know Your Business requirements and onboard new businesses faster.

Book a demo

If you’re a fintech looking to optimize your business onboarding process, schedule a demo here.