At AiPrise, we are thrilled to unveil BusinessID, an innovative solution set to transform Know Your Business (KYB) checks, ushering in a new era of speed and efficiency. Say goodbye to cumbersome onboarding processes and welcome a streamlined approach to business verification.
Why?
Imagine you want to onboard a business on your platform. Here is what the traditional verification setup looks like -
Step 0: Design a complicated Typeform (Requires 7-10 days)
Step 1: Send a Google / Typeform link to the business/merchant to collect the following information about the company -
Name & Tax ID
Legal Information
UBO Information / Ownership Structure
Website Information
Registration documents
Address Proof
UBO Identity documents
Step 2: Semi-automated validation of the above information (4-5 days)
Lookup business Tax ID and name in the local business registry
Order OFAC/AML/Sanctions/Adverse Media checks on the business
Document verification / KYC checks on each UBO + Legal Representative
Order OFAC/AML/Sanctions/Adverse Media checks on each UBO
Manually verify address proof
Follow up with customer for any missing information
Step 3: Risk Analysis (0.5-1 hour)
Manually go through the website
Lookup business information and employee count on LinkedIn
Google search of the business to get insights on customer reviews/news articles, etc.
Manually go through provided documents and completely rely on intuition to spot fraudulent documents
Challenges of Traditional Verification:
Time-consuming
Relies on inconsistent data sources
Difficulty scaling with diverse regulations across multiple geographies
Prone to fraud due to manual verification errors
What is BusinessID?
BusinessID is a robust, comprehensive tool that drastically cuts down the time spent on verifying companies. This platform has a customizable onboarding UI, risk-based workflows, a case management tool, and country-specific templates.
Customizable Onboarding Experience: Tailored UI for efficient and brand-aligned verification.
Comprehensive Verification Suite: Streamlined business registry lookups, tax/VAT checks, and beneficial owner verification.
Global Coverage with Local Precision: Services in over 100 countries, ensuring compliance and thorough verification.
Enhanced Risk Mitigation: Advanced tools for fraud prevention and thorough due diligence.
UBO Verification: Seamless KYC on ultimate beneficial owners
Access to Government Registries: Where accessible, for authentic documentation
BusinessID conducts thorough checks within minutes, including:
Business registry lookup
Tax/VAT number verification
Beneficial owner verification
Address, phone, email, and website verification
Online presence analysis
Registration document verification
Document extraction from government registries
Occupation/nature of business checks
Sanctions, PEP, and adverse media checks
🚀 Elevate Your Business with BusinessID
BusinessID is more than a tool – it's a transformative solution for businesses seeking efficiency, security, and compliance. Don't let outdated KYB processes hold you back.
👉 Ready to Experience the Future of KYB Checks?
Visit us at AiPrise to schedule your demo and see how BusinessID can revolutionize your business verification process.