The Top 7 Know Your Business (KYB) Solutions

Comply Advantage Company Screening continuously and automatically flags any potential business or financial risks. It generates detailed risk profiles for all your partners.

What We Like: This is a complete screening solution, which protects you against financial crimes and ensures compliance.

• It covers the vendor lifecycle from onboarding through to ongoing monitoring.

Best Features:

• Screening and monitoring can be adapted to fit your custom risk policy
• Real time tacking & insights into team screening actions
• Automatically generated audit trails to demonstrate compliance

Final Thoughts: Comply Advantage is a trusted KYB provider, with over 1,000 global customers. The platform is easy to use and has a modern UI. For, example, all company risk profile information can be viewed on one screen.

Equifax’s KYB solution helps risk and compliance officers to conduct due diligence on new business partners. The service provides reports, collected from the Equifax Commercial database, for business identity verification, tax ID verification, and risk assessment.

What We Like: Equifax are a highly trusted brand with a deep data set to conduct due diligence and company risk assessments.

• Reports are detailed, but clear and easy to read.

Best Features:

• Detailed, simple, and easy-to-read reports
• Support for multiple KYB and risk assessment use cases
• Trusted brand and high-quality dataset for thorough assessments

Final Thoughts: Equifax Business Identity Reports offer a straightforward and quick way to conduct verify partners are safe to work with.

• The platform is one of several Equifax business solutions, which also include employee verification, identity and fraud protection, and workforce management.

iDenfy provides identity verification solutions to ensure secure user onboarding. Their KYB solution helps compliance teams to meet anti-money laundering requirements in a single admin dashboard.

What We Like: iDenfy is highly automated and is very easy to use. You can set automations to flag or block applications during onboarding.

• Monitoring is continuous, so the solution will also flag if there are any changes to a partner’s status.

Best Features

• Real-time company risk data from 180+ company registries covering 120+ countries globally
• Generates onboarding forms based on your specific compliance policies
• Verifies company addresses & ownership structures

Final Thoughts: iDenfy offer an easy-to-use and modern KYB solution. You can build automations based on your own compliance policies to make company verification simple and straightforward.

The solution is customizable: you can easily add custom fields and add additional questionnaires, blocklists, and templates as required.

LexisNexus offers a modern platform for anti-money laundering, risk fraud, and risk management.

What We Like:  RiskNarrative is built for enterprise use cases but prioritizes simplicity. You can change rules, models and configure integrations with a simple drag and drop user interface.

• Integrations are managed using APIs.

Best Features 

• Creates an overall risk score taken from intelligence from all your services, which adapts to changes over time
• Deploys real-time document and biometric verifications for streamlined onboarding
• Screening data built on the LexisNexis financial crime watchlist, which covers more than 6 million global risk profiles

Final Thoughts: RiskNarrative is a leading KYB solution for banking, FinTech, eCommerce, and gambling enterprise. It offers a comprehensive feature set, covering integrations, document capture and biometrics, customized onboarding and triggers, and case management.

• This solution is suitable for a wide variety of use cases including B2B & B2C onboarding, transaction monitoring, and supplier due diligence.

Ondato’s onboarding solution is a complete platform for KYB and streamlined verification.

What We Like: This is an all-in-one platform for business verification. It covers onboarding forms, identify verification, ownership structure reports, and AML screening.

• The platform also provides a smooth and efficient process for clients and partners who are being onboarded

Best Features:

• Custom onboarding forms with automatic verification and continuous monitoring
• One dashboard to manage all relevant business details
• Comprehensive business data base, with reports available in 195 counties

Final Thoughts: Ondato offers a popular and fast growing solution for KYB. It has leading brands as reference clients, including Microsoft, Allianz, and SwedBank, promising to cut KYC related costs by up-to-80%.

The Ondato Business Verification platform is part of Ondato OS – a complete KYC platform that integrates multiple KYC and ALM tools and digital identity services.

Trulioo is a compliance platform focused on comprehensive identity verification.  It’s KYB solution provides automated business onboarding and verification.

What We Like: Trulioo provides comprehensive data intelligence from global and local sources. It can verify more than 700 million business entities ensuring accurate results.

• The platform uses contextual insights to allow you to conduct risk-based decision making.

Best Features 

• Automated data collection based on 450+ government registers and public records
• Easily customizable verification & onboarding workflows and logic
• Customizable compliance reports, audits, and regulatory finance

Final Thoughts: Trulioo supports compliant, comprehensive, and ongoing business verification. Data is up-to-date and comprehensive to guarantee accurate due diligence and business checks.

• Trulioo is known for identity verification solutions to prevent identity fraud.

TruLookUp is a business due diligence and investigation solution that provides intelligence on people, assets, and organizations for compliance.

What We Like: This is an efficient and user friendly investigation tool for teams. You can easily investigate red flags, verify statements, and monitor potential risks.

• A differentiator for this platform is you can also use the service to locate individuals and contacts to help recover debt and assets if required.

Best Features: 

• Comprehensive data set built on 10,000+ public and proprietary data sources, updated daily
• Updates customer profiles to ensure current information, such as phone numbers, addresses etc.,
  • This info is pre-filled during onboarding to streamline customer experiences
• Proactive monitoring, with alerting for changes to information, to ensure compliance

Final Thoughts: TruLookUp is a comprehensive solution with a broad range of features and solutions to help you conduct due diligence. Unlike other platforms on the list, the solution goes beyond just KYB to also look at individuals and assets, as well as businesses.

TransUnion services multiple industries, including background screening, gaming, media, financial services public sector, healthcare, and insurance.