Persona presents a new KYB solution to automate and streamline the business verification process

The industry’s first solution automates KYB (Know Your Business) and KYC (Know Your Customer) workflows to transform, test and deploy new business customers quickly

SAN FRANCISCO, June 8, 2022 / PRNewswire / – Person today launched the only end-to-end solution that allows businesses to configure and automate KYB and KYC verification processes to help meet compliance requirements – all from a single platform. Companies can now simplify the orchestration of KYB and KYC workflows for their customers to provide a secure and streamlined authentication experience.

“The KYB and KYC frameworks protect organizations by requiring them to verify that the businesses and customers they choose to partner with are legitimate. However, traditional verification processes are highly manual, complex and error-prone, which makes it a challenge for compliance and operations teams to carry out efficient inspections, ”they said. Rick Song, CEO, Persona. “Another major challenge is to challenge the data needed to conduct in-depth KYB and KYC verification from different sources and platforms. With our new solution, businesses can automate and customize this entire process from end to end to provide an easy and hassle-free experience for both their end users and the team. “

The features and benefits of Persona’s KYB solution include:

  • KYB and KYC logic from end to end: Customize the way you collect and verify information for both businesses and individuals. Automatically contact the ultimate beneficial owners (UBOs) of the KYC Stream business. Automate decisions based on compliance and risk criteria and / or mark end cases for manual review.
  • Robust set of KYB and KYC checks: Make business inquiries, watch lists and unfavorable media screenings, etc. Check additional business records, such as business registrations or incorporation certificates, with fraud checks, and verify individuals through government IDs, selfies, and database checks.
  • Dynamic information collection: Create themed streams with customizable screens and collection logic, and customize custom streams based on live alerts. Collect any combination of self-reported information and documents from companies and individuals – from incorporation documents to contact information with the beneficial owner.
  • Consolidated investigation view: Consolidate all information about the business and beneficial owner, including business registrations and addresses from all identified jurisdictions, into a single view of the KYB audit and investigation case. Refer the actual owners to their KYC inspections and business documents.
  • Follow with your customers: Automate actions such as sending reminders to users, closing Zendesk tickets, and updating your CRM with third-party integrations.

A number of high-growth companies, including Branch and Dapper Labs, are already 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 allows us to do this and saves us time, but also ensures that we can be flexible in changing our work processes and rules when we open new circles of fraud, “I said. Amanda Hodgets-Martindirector of risk management in a branch.

FOR THE PERSON

Persona offers a proven identity infrastructure that gives businesses the building blocks they need to collect, verify and make decisions about customers – whether individuals or other companies – along with automation and orchestration tools to streamline the whole end-to-end process. Founded in 2018, Persona is headquartered in San Francisco and is available in over 200 countries and 20 different languages. Persona serves every business that needs to confirm its customers online, including retail, fintech, market, delivery services, real estate and hospitality, HR, edtech, legal services, home and child care services and more. For more information, please visit https://withpersona.com/

SOURCE Person

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