AiPrise

At AiPrise, we are thrilled to unveil BusinessID, an innovative solution set to transform Know Your Business (KYB) checks, ushering in a new era of speed and efficiency. Say goodbye to cumbersome onboarding processes and welcome a streamlined approach to business verification.

Why?

Imagine you want to onboard a business on your platform. Here is what the traditional verification setup looks like -

Step 0: Design a complicated Typeform (Requires 7-10 days)

Step 1: Send a Google / Typeform link to the business/merchant to collect the following information about the company -

• Name & Tax ID
• Legal Information
• UBO Information / Ownership Structure
• Website Information
• Registration documents
• Address Proof
• UBO Identity documents

Step 2: Semi-automated validation of the above information (4-5 days)

• Lookup business Tax ID and name in the local business registry
• Order OFAC/AML/Sanctions/Adverse Media checks on the business
• Document verification / KYC checks on each UBO + Legal Representative
• Order OFAC/AML/Sanctions/Adverse Media checks on each UBO
• Manually verify address proof
• Follow up with customer for any missing information

Step 3: Risk Analysis (0.5-1 hour)

• Manually go through the website
• Lookup business information and employee count on LinkedIn
• Google search of the business to get insights on customer reviews/news articles, etc.
• Manually go through provided documents and completely rely on intuition to spot fraudulent documents

Challenges of Traditional Verification:

• Time-consuming
• Relies on inconsistent data sources
• Difficulty scaling with diverse regulations across multiple geographies
• Prone to fraud due to manual verification errors

What is BusinessID?

BusinessID is a robust, comprehensive tool that drastically cuts down the time spent on verifying companies. This platform has a customizable onboarding UI, risk-based workflows, a case management tool, and country-specific templates.

• Customizable Onboarding Experience: Tailored UI for efficient and brand-aligned verification.
• Comprehensive Verification Suite: Streamlined business registry lookups, tax/VAT checks, and beneficial owner verification.
• Global Coverage with Local Precision: Services in over 100 countries, ensuring compliance and thorough verification.
• Enhanced Risk Mitigation: Advanced tools for fraud prevention and thorough due diligence.
• UBO Verification: Seamless KYC on ultimate beneficial owners
• Access to Government Registries: Where accessible, for authentic documentation

How does it work?

Watch BusinessID in action

🤖 Automated Verification at Its Finest

BusinessID conducts thorough checks within minutes, including:

• Business registry lookup
• Tax/VAT number verification
• Beneficial owner verification
• Address, phone, email, and website verification
• Online presence analysis
• Registration document verification
• Document extraction from government registries
• Occupation/nature of business checks
• Sanctions, PEP, and adverse media checks

🚀 Elevate Your Business with BusinessID

BusinessID is more than a tool – it's a transformative solution for businesses seeking efficiency, security, and compliance. Don't let outdated KYB processes hold you back.

👉 Ready to Experience the Future of KYB Checks?

Visit us at AiPrise to schedule your demo and see how BusinessID can revolutionize your business verification process.