AU10TIX, a technology leader in identity verification and management, today announced the launch of an innovative KYB solution.
This product is a game-changer for companies seeking to mitigate financial and reputational risks by ensuring they know precisely whom they are doing business with.
The new product comes in response to increasingly stringent regulatory demands across various sectors, compelling businesses to gather and scrutinize extensive data about their partners and vendors. In today’s environment, companies must guard against the risks of engaging with entities involved in identity theft, fraud, money laundering, terrorist financing, and other illicit activities.
AU10TIX specializes in identity verification and management solutions, offering unparalleled security and efficiency to businesses worldwide. By integrating KYB with Know Your Customer (KYC) processes, AU10TIX’s offering meets the comprehensive business verification needs of entities ranging from sole traders to large corporates, including KYC checks for Ultimate Beneficial Owners (UBOs) and associated entities.
The product sets a new industry standard by providing an all-encompassing check against more than 200 jurisdictions and over 1,000 government registries within a single automated workflow. Unlike other solutions that require days and depend on unofficial, potentially outdated databases, AU10TIX’s KYB solution delivers thorough and comprehensive checks within seconds. It also offers continuous monitoring and full profiling, ensuring ongoing compliance and risk management.
AU10TIX’s KYB solution is available in three distinct packages, each designed to meet the varying needs of businesses: Business Validation, Sole Trader Verification, and Enterprise Verification. Each package offers a suite of features, including AI-powered document verification, advanced risk assessments, continuous compliance monitoring, and robust AML screening, among others.
“Our customers have been requesting a comprehensive KYB solution, because money laundering and fraud have become far too prevalent in the corporate world,” AU10TIX CEO Dan Yerushalmi said. “Our unified KYB/KYC solution is essential for identifying bad actors and maintaining a safe business environment in 2024.”
In addition to this innovative offering, AU10TIX will further address the issue of fraud in a joint webinar with Frost & Sullivan, providing actionable insights to combat fraud effectively.
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