Persona today launched the only end-to-end solution that enables businesses to configure and automate KYB and KYC verification processes to help meet compliance requirements—all from a single platform. Now, companies can simplify the orchestration of KYB and KYC workflows for their customers to provide a secure and streamlined identity verification experience.
“KYB and KYC frameworks safeguard organizations by requiring them to verify that the businesses and customers they choose to partner with are legitimate. Yet traditional vetting processes are heavily manual, complex, and error-prone, making it challenging for compliance and operations teams to carry out efficient checks,” said Rick Song, CEO, Persona. “Another major challenge is wrangling the data required to run a thorough KYB and KYC verification from different sources and platforms. With our new solution, businesses can automate and customize this entire process end-to-end to provide an easy and frictionless experience for both their end users and team.”
Features and benefits of Persona’s KYB solution include:
- End-to-end KYB and KYC Logic: Customize how you collect and verify information about both businesses and individuals. Automatically reach out to the business’s Ultimate Beneficial Owners (UBOs) with KYC flows. Automate decisions based on compliance and risk criteria and/or flag edge cases for manual review.
- Robust Set of KYB and KYC Checks: Conduct business lookups, watchlist and adverse media screenings, and more. Verify supplemental business documentation such as business registrations or certificates of incorporation with fraud detection checks, and verify individuals via government IDs, selfies, and database verifications.
- Dynamic Information Collection: Create themed flows with customizable screens and collection logic, and personalize user flows based on live signals. Collect any mix of self-reported information and documents from businesses and individuals—from articles of incorporation documents to beneficial owner contact information.
- Consolidated Investigation View: Consolidate all business and beneficial owner information, including business registrations and addresses from all identified jurisdictions, in one unified case view for KYB auditing and investigation. Cross-reference beneficial owners across their KYC verifications and business documents.
- Follow Through with Your Customers: Automate actions such as sending reminder communications to users, closing out Zendesk tickets, and updating your CRM with third party integrations.
Already a number of high-growth 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 lets us do that and saves us time, but also ensures that we can be flexible with changing our workflows and rules when we discover new fraud rings,” said Amanda Hodgetts-Martin, Director of Risk Management at Branch.
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