Automate global KYB checks to comply with regulatory requirements and reduce the risk of penalties for non-compliance.
Achieve cost efficiency through automation, requiring less time to perform routine checks and business verification.
Streamline the onboarding process, making it quicker and more efficient by accessing reports instantly via an API integration.
Alert yourself to suspicious or high-risk entities and mitigate risks associated with business customers from over 9000 data sources.
We are excited to work with FullCircl to take such a revolutionary tech-driven approach to bringing compliance and KYC into the forefront of our business and commercial banking activities. FullCircl will help us know more, know sooner and save valuable time we can invest in building great customer relationships.
The complexity of company and shareholder structures can lead to complications and inefficiencies for corporate verification. As new regulation places a closer focus on identifying and screening Ultimate Beneficial Owners (UBOs), it's vital for regulated businesses to find a solution that can support this seamlessly.
Navigate companies that have as many as 2089 connections in a company structure to find the Ultimate Beneficial Owner.
Continuously screen for high-risk businesses in real-time and set custom alerts to notify you of any changes to your clients.
Set custom rulesets to ensure consistent application of compliance and risk policies without relying on manual intervention.
Finding, screening, and verifying the UBO of a client is a critical component of corporate verification. But what about the business itself? Accessing detailed information on a business to build a clear picture and risk profile will lead to enhanced compliance and more secure relationships with clients.
Assess a client's creditworthiness and financial health, including recommended credit and contract limits to assist commercial discussions.
Access payment performance history information to investigate previous partnerships, providing insights into starting a more secure client relationship.
Detect and respond to suspicious or unusual behaviour promptly by re-screening businesses to understand changes in financials and ownership.
At FullCircl, we understand that you may require more than corporate verification for a full compliance stack. Our platform is designed to include all the checks you need for comprehensive Customer Due Diligence through a single access point.
Customer Lifecycle intelligence from FullCircl helps regulated businesses win the right customers, accelerate onboarding and keep customers for life
AML/KYB automation for better onboarding and risk management.
Discover the power of all access automation to the UK’s richest source of company data and intelligence.
Access an identity verification platform including global KYC, AML, anti-fraud, document verification, age verification, and more.
Seamless onboarding meets intelligent CLM - FullCircl and nCino powering financial growth
Experience FullCircl's capabilities first hand. Sign up for a demo today and see how FullCircl empowers your business to attract ideal customers, streamline onboarding, and foster lasting relationships.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare.
Know Your Business (KYB) is a process that businesses use to verify and understand their clients or partners, similar to Know Your Customer (KYC) but focused on the business entities. It involves gathering information to assess the legitimacy and potential risks associated with a business relationship
KYB software enhances accuracy and efficiency, reducing fraud, and ensuring compliance. Automated software ensures that businesses not only access the data they need on consumer and business customers, but can keep those customers engaged in a smooth, real-time journey.
KYB requirements vary depending on industry and geographical location, but will typically involve verifying a business' registration, ownership, financial standing, and risk factors. By conducting KYB verification, businesses are able to build a more secure partnership with new clients and avoid entering a professional relationship with other businesses who may pose a risk of money laundering, fraud, or reputational damage.
KYB is geared towards businesses and corporate entities and will often include a business report on multiple factors including credit, share ownership structure, and risk. Whereas, Know Your Customer (KYC) focuses on individual customers and is a measure of identifying that the individual attempting to onboard is who they say they are.
Know Your Business (KYB) and Anti-Money Laundering (AML) are interconnected pillars of corporate security. KYB solutions, including KYB compliance software and KYB system software, ensure thorough business onboarding by incorporating Know Your Business checks. This comprehensive approach not only meets regulatory requirements but also aligns with AML measures, collectively safeguarding businesses against financial crimes.
Leverage advanced KYB solutions such as FullCircl's KYB service. Implementing efficient Know Your Business software enables automated workflow, ensuring swift yet accurate business onboarding. Seamless integration enhances the overall KYB process, reducing manual efforts while maintaining precision in business identity verification.
Alternatives to KYB identification include manual verification, which is time-consuming and subject to human error. Additionally, performing manual verification can also lead to missed information, whereas KYB automation tools such as FullCircl use over 9000 data sources to build a picture of a business.
In 2024, more regulation will follow for many industries whilst onboarding expectations continue to rise - finding the balance between regulatory and compliance and time to revenue is an increasingly prominent pain point in relation to KYB compliance software.
.svg)
