{"id":34894,"date":"2023-06-06T16:51:21","date_gmt":"2023-06-06T16:51:21","guid":{"rendered":"https:\/\/www.trulioo.com\/blog\/"},"modified":"2023-07-26T23:32:35","modified_gmt":"2023-07-26T23:32:35","slug":"kyb-kyc","status":"publish","type":"post","link":"https:\/\/www.trulioo.com\/blog\/business-verification\/kyb-kyc","title":{"rendered":"KYC + KYB Are Better Together"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-business-and-person-verification-form-a-powerful-combination\">Business and Person Verification Form a Powerful Combination<\/h2>\n\n\n\n<p>Business verification poses a complex challenge for organizations, particularly when they operate across borders and under multiple evolving regulations.<\/p>\n\n\n\n<p>In those circumstances, organizations often rely on multiple point solutions to meet Know Your Business (KYB) and Know Your Customer (KYC) requirements in different parts of the world. Companies juggle those point solutions to verify businesses and their ultimate beneficial owners. Then they often need different solutions for different countries.<\/p>\n\n\n\n<p>But it doesn\u2019t have to be that complex.<\/p>\n\n\n\n<p>The Trulioo integrated identity platform provides layered business and person verification through a single, automated workflow to accelerate and simplify onboarding around the world.<\/p>\n\n\n\n<p>\u201cWith Trulioo, we can do both KYB and identity document-based KYC checks with one solution, turning a previously cumbersome onboarding process into one that is quick and easy,\u201d said Philippe Panneton, Nuvei&#8217;s senior vice president, Global Risk &amp; Underwriting. \u201cThis has enabled us to remain compliant across multiple continents and provide payments solutions that accelerate our customers\u2019 businesses.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-platform-capabilities-to-expand-and-automate-business-and-person-verification\">New Platform Capabilities to Expand and Automate Business and Person Verification<\/h2>\n\n\n\n<p>Trulioo continues to improve its global identity platform to cement its position as a premier source for business and person verification workflows.<br><br>The latest update bolsters Trulioo global leadership by expanding geographic coverage and localization for person verification and further automating business verification to reduce costly manual reviews.<\/p>\n\n\n\n<p>The latest platform updates include:&nbsp;<\/p>\n\n\n\n<ul>\n<li>Improvements in data source orchestration and Business Verification translation and transliteration for greater accuracy in 70-plus languages<\/li>\n\n\n\n<li>New global data sources and language translation capabilities for Person Match services<\/li>\n\n\n\n<li>More configuration options for Identity Document Verification types and selfie support as well as improvements to image capture for 30 languages and the ability for organizations to brand the experience<\/li>\n<\/ul>\n\n\n\n<p>\u201cTrulioo is the global leader in uniting KYB and KYC in one integrated identity platform for organizations that need to operate across different countries and languages,\u201d said Trulioo Chief Product Officer Michael Ramsbacker. \u201cAs evidenced by our latest features, we are dedicated to delivering the industry\u2019s most complete verification workflows that are customized for a wide array of business needs to help companies navigate the complexities of today\u2019s global digital economy.\u201d&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-one-global-identity-platform-for-kyc-and-kyb\">One Global Identity Platform for KYC and KYB<\/h2>\n\n\n\n<p>Person verification requires piecing together a complex puzzle of personally identifiable information, identity documents, biometrics and watchlists to confirm people are who they say they are. Business verification across geographies can be costly and time-consuming with manual reviews that can take weeks.<\/p>\n\n\n\n<p>The Trulioo comprehensive platform accelerates and simplifies the process with automated workflows that enhance the onboarding experience while still ensuring compliance. Organizations can optimize the cost of onboarding the right customers with less need for additional vendor integration and fewer manual reviews.<\/p>\n\n\n\n<p>An integrated approach to verifying businesses also enables access to additional data so organizations can create in-depth profiles and gain a holistic view of identity across the customer journey. Those data layers can improve risk evaluation and vetting to enhance fraud protection.&nbsp;<\/p>\n\n\n\n<p>A single, global, integrated platform can streamline individual and business verification, opening the door to global expansion.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"not-post \">\n\t\t<a href=\"https:\/\/trulioo.highspot.com\/viewer\/647a745fed1ff3fb0a9a07db\" class=\"block bg-brown-100 md:relative md:flex md:flex-row\"  rel=\"noopener noreferrer\" target=\"_blank\" >\n\t\t<div class=\"md:w-64 md:flex-shrink-0\"><\/div>\n\t\t<div class=\"md:relative md:h-fit md:w-full md:self-stretch\">\n\t\t\t\t\t\t\t<div class=\"md:absolute md:top-0 md:-left-64 md:h-full md:w-64\">\n\t\t\t\t\t<picture>\n\t\t\t\t\t\t<source media=\"(max-width: 480px)\" srcset=\"https:\/\/www.trulioo.com\/wp-content\/uploads\/2023\/06\/ss-elevate-your-onboarding-game-thumbnail-468x263.jpeg\">\n\t\t\t\t\t\t<source media=\"(max-width: 768px)\" srcset=\"https:\/\/www.trulioo.com\/wp-content\/uploads\/2023\/06\/ss-elevate-your-onboarding-game-thumbnail-608x342.jpeg\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.trulioo.com\/wp-content\/uploads\/2023\/06\/ss-elevate-your-onboarding-game-thumbnail-304x171.jpeg\" width=\"304\" height=\"171\" itemprop=\"image\" alt=\"Elevate your onboarding game\" class=\"md:h-full w-full object-cover\">\n\t\t\t\t\t<\/picture>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"pt-4 p-6 lg:pt-6\">\n\t\t\t\t<p class=\"p-sm md:p-xxs subheading md:subheading text-red-500 mb-4\">Get the solution sheet<\/p>\n\t\t\t\t<h4 class=\" mb-1 text-green-900\" >Elevate Your Onboarding Game: Unleash the Dual Power of Business and Person Verification<\/h4>\t\t\t\t<p class=\"p-sm md:p-xs text-green-900\">Harness the power of a global identity platform to deliver a fast, compliant, automated user experience that optimizes onboarding.<\/p>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/a>\n<\/div>","protected":false},"excerpt":{"rendered":"Business and Person Verification Form a Powerful Combination Business verification poses a complex challenge for&#8230;","protected":false},"author":8,"featured_media":34898,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[328],"post-types":[148],"post-topics":[111],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.1 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>KYC + KYB are Better Together<\/title>\n<meta name=\"description\" content=\"The ability to integrate KYC and KYB workflows saves time and money, improves accuracy and potentially reduces onboarding time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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