Leveraging Automated Data-Driven KYB.
Verified. Trusted. B2B Efficieny.
In the rapidly evolving landscape of online payments and Fintech, businesses require a KYB solution that meets compliance requirements and supports broader business objectives. Currently, there are an estimated 334 million companies worldwide, of which 90% are small businesses. AcuityTec's automated KYB platform provides a data-driven alternative to the cumbersome manual underwriting process and empowers businesses to instantly identify and verify critical information to promptly identify risk. This results in faster decision-making regarding B2B onboarding, improved operational efficiency, quicker revenue generation, and stronger business relationships.
Benefits to revolutionize your business underwriting
As we've discussed, data-driven automated KYB is essential for businesses aiming to maintain compliance, foster growth, enhance operational efficiency and deliver substantial benefits.
Accelerated Onboarding: Automated KYB processes drastically reduce the time required for verification and approval, allowing businesses to quickly onboard new partners and clients. This ensures that new business relationships are established efficiently, opening the doors to faster revenue growth, strengthening market presence and competitiveness, and enhancing operational efficiency.
Growth and Revenue Acceleration: With faster onboarding, businesses can expand their networks more rapidly, capitalizing on opportunities without unnecessary delays. This efficiency increases revenue potential and strengthens market presence and competitiveness.
Improved Experience: The efficiency and reliability of automated KYB processes enhance the overall B2B onboarding experience, fostering stronger, more trusting relationships with partners and clients.
Ongoing Risk Management: Trigger KYB checks at any point during the business relationship for regular reassessment, promptly identifying any changes in their status or risk profile. This offers peace of mind that all business relationships are consistently compliant.
Centralized Platform for KYB Management
AcuityTec’s centralized platform offers a unified solution for supporting KYB and provides numerous advantages:
1. Real-Time Data Checks: Instantly verify critical business details such as business name, address, contact information, business type, industry code and descriptor, active status, incorporation date, and, for US businesses, the IRS descriptor. Additionally, verify the names, positions, statuses, and start/end dates of UBOs, directors, and officers. Triggering these KYB data checks at any time allows businesses to perform real-time rechecks, ensuring up-to-date compliance and risk assessment.
2. Business Profiles: The platform provides data intelligence on business profiles, offering insights into returned results from the KYB data verification process, including business identity information, risk score, and rules performance.
3. Enhance Due Diligence: Leverage access to AcuityTec’s KYC hub to automatically trigger KYC or perform document ID verification on identified UBOs, owners and directors.
4. KYB Management: KYB verification results are stored and managed in a single, centralized system, facilitating easy access, tracking, and management.
5. Performance Monitoring: The platform supports real-time monitoring and reporting on KYB performance and outcomes, enabling businesses to analyze and track key performance indicators (KPIs), identify areas for improvement, and ensure optimal efficiency.
6. Compliance Reporting: Automated performance reporting tools streamline the preparation and submission of reports to regulatory bodies, ensuring timely and accurate compliance.
The Power of AcuityTec’s Proprietary Multi-Leveled Risk Analysis Engine
AcuityTec's KYB solution, with its proprietary multi-leveled risk analysis engine, significantly enhances the verification process and allows for optimal and customizable KYB risk evaluations that support a wide range of underwriting criteria. It also facilitates Enhanced Due Diligence (EDD) on KYC for individuals associated with the entity. By synthesizing data from multiple levels of analysis, the engine generates a comprehensive risk score for each entity. This score provides a clear and concise measure of risk, facilitating prompt and informed decision-making.
Whether it's the initial KYB underwriting for onboarding or subsequent rechecks, the system offers real-time alerts and detailed reporting on KYB verifications and risk evaluations. This capability enables businesses to respond swiftly, generate compliance reporting, maintain a compliant B2B portfolio, and foster healthy, reliable B2B relationships.
Global Coverage and Competitive Pricing
AcuityTec's KYB solution is designed to support businesses operating in diverse markets, offering extensive coverage and competitive pricing:
"At AcuityTec, our KYB services span 121 countries, empowering businesses to verify and onboard partners and clients globally. We provide a cost-effective solution with our comprehensive KYB services at a low, competitive rate, making it an affordable option for businesses of all sizes." - Alfredo Solis, Managing Director, AcuityTec.
Conclusion: The Future of KYB with AcuityTec
As the B2B online engagement market grows, the need for efficient, automated KYB solutions becomes more pressing. AcuityTec’s data-driven KYB solution, with its proprietary risk analysis technology and comprehensive capabilities, is designed to simplify the underwriting process, streamline compliance, enhance operational efficiency, and drive growth.
Transform your KYB processes today. To learn more, visit the AcuityTec KYB solution or contact a sales representative for an introduction and demo.