Regulated businesses need to transition away from manual Know Your Business (KYB) processes, which are inefficient, error-prone, and risky in today’s tech-driven world. As regulations grow more complex and the need to manage risks increases, manual tasks such as document collection, beneficial owner verification, sanctions screening, risk assessment, and ongoing monitoring are becoming outdated. … Read More
business onboarding
How to unravel complex corporate structures and unveil the truth behind international entities
Unraveling complex corporate structures and identifying Ultimate Beneficial Owners (UBOs) is a significant challenge for compliance teams in the UK lending industry, especially with international entities. Technology can simplify this process by providing global data coverage, clear corporate relationship mapping, and real-time UBO verification, streamlining due diligence and ensuring regulatory compliance. … Read More
How to reduce KYB customer friction in lending and accelerate loan approval
The challenges of Know Your Business (KYB) processes for lending firms in the UK can be complex, from common customer frustrations, such as extensive documentation and delays, to the manual burden on compliance teams. … Read More
Boosting application volume with KYB technology for lending firms
Implementing KYB (Know Your Business) technology can have a significant impact on the application volume of lending firms. By leveraging KYB technology, lenders can streamline their onboarding process and make it more efficient, resulting in a higher number of applications. … Read More