KYC, KYB & Identity · Use case

Verify businesses and their beneficial owners

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Short answer

KYB confirms that a company exists, who controls it and whether any of them are a risk. The provider pulls registry data, maps the ownership tree, verifies the people behind it and screens everyone. Quality of registry data by country decides how much of this is automatic.

What this use case is

KYB confirms that a company exists, who controls it and whether any of them are a risk. The provider pulls registry data, maps the ownership tree, verifies the people behind it and screens everyone. Quality of registry data by country decides how much of this is automatic.

Who builds this

SME banking
Payment providers
B2B marketplaces
Spend management
Vertical SaaS with accounts

What your customer sees

  1. 1Enters company name or number
  2. 2Sees details pre-filled
  3. 3Confirms owners and directors
  4. 4Owners complete an identity check
  5. 5Uploads documents only where data is missing

How KYC, KYB & Identity solves it

1

Company looked up in official registries

Company looked up in official registries

2

Registration, status and directors retrieved

Registration, status and directors retrieved

3

Ownership structure mapped to ultimate beneficial owners

Ownership structure mapped to ultimate beneficial owners

4

Owners and directors verified through KYC

Owners and directors verified through KYC

5

Everyone screened against sanctions and PEP lists

Everyone screened against sanctions and PEP lists

6

Risk scored and routed for approval or review

Risk scored and routed for approval or review

7

Evidence stored for audit

Evidence stored for audit

Want to have

  1. Registry coverage for your markets
  2. Ownership mapping
  3. Director and owner KYC
  4. Screening
  5. Document collection for gaps
  6. Case review tooling
  7. Audit trail

Optional

  1. Ongoing monitoring of company changes
  2. Website and business-activity checks
  3. Credit data

Design decisions

Data approach

Registry-first
Document-first

speed versus coverage in weak-registry countries.

Owner verification

All owners
Above your threshold

assurance versus friction. [TO CONFIRM: threshold required by your licence holder]

What to put in your RFP

Coverage

  • registry countries
  • data freshness

Ownership

  • tree mapping
  • complex structures

People

  • director and owner KYC

Screening

  • lists
  • monitoring

Workflow

  • review tools
  • document requests

Commercials

  • price per company onboarded
Add these to an RFP

How to evaluate providers for this use case

  1. 1Automation rate in your markets
  2. 2Handling of complex structures
  3. 3Review tooling
  4. 4Cost per completed business onboarding

Pitfalls

  • Assuming registry coverage is equal everywhere
  • Friction that loses SME customers
  • Not monitoring changes after onboarding

What providers will ask you

  1. Business types and countries
  2. Volumes
  3. Ownership threshold in your policy
  4. Licence holder requirements

Other Finlane categories that cover parts of this

This use case is solved mainly with KYC, KYB & Identity. These categories cover specific parts of it and can be tendered alongside it.

Banking-as-a-Service

Business accounts after verification

Fraud & AML Monitoring

Monitoring business activity

RegTech & Compliance Ops

Periodic review workflows

Frequently asked questions

Other KYC, KYB & Identity use cases

Onboard consumers with document + selfie

Verify ID documents plus a liveness selfie, with automated decisioning and manual review fallback.

Screen for sanctions, PEP and adverse media

Run initial and ongoing screening against global watchlists with configurable match thresholds.

Orchestrate multiple identity vendors

Route each user through the best-fit vendor by geography, risk score or document type — from one integration.

Scope verify businesses and UBOs with KYC, KYB & Identity providers

Scope this use case