{"id":38209,"date":"2023-09-27T17:38:45","date_gmt":"2023-09-27T17:38:45","guid":{"rendered":"https:\/\/www.trulioo.com\/blog\/"},"modified":"2023-09-29T15:20:35","modified_gmt":"2023-09-29T15:20:35","slug":"global-expansion","status":"publish","type":"post","link":"https:\/\/www.trulioo.com\/blog\/business-verification\/global-expansion","title":{"rendered":"Layered Business Verification Puts Global Expansion Within Reach"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.trulioo.com\/solutions\/business-verification\">Business verification<\/a> can be a complex, time-consuming, manual process, but it\u2019s also a common requirement as companies connect and transact in a global digital economy.&nbsp;<\/p>\n\n\n\n<p>Organizations can run into onboarding problems when they rely on business verification solutions that lack global coverage, provide complicated results and fall short of customer expectations for speed and convenience. Those complexities grow when organizations turn to multiple point solutions to verify ultimate beneficial owners or people with significant control.<\/p>\n\n\n\n<p>It doesn\u2019t need to be that complicated.&nbsp;<\/p>\n\n\n\n<p>Watch the Trulioo on-demand webinar, \u201c<a href=\"https:\/\/id.trulioo.com\/global-mastery-how-to-accelerate-business-verification-worldwide.html\">Global Mastery: How to Accelerate Business Verification Worldwide<\/a>,\u201d to discover the keys to mastering layered business verification, processes that enhance onboarding and strategies for establishing powerful, trusted relationships that last throughout the customer life cycle.<\/p>\n\n\n\n<p>The webinar features:<\/p>\n\n\n\n<ul>\n<li>Steven Szaroleta, <a href=\"https:\/\/www.trulioo.com\/resources\/case-studies\/consensys-captures-global-verification-efficiency\">Consensys<\/a> compliance and operational risk manager<\/li>\n\n\n\n<li>Tom Bennett, Trulioo director of product marketing&nbsp;<\/li>\n\n\n\n<li>Kiran Kumar, Trulioo vice president of product management&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-business-onboarding-and-verification\"><strong>Business Onboarding and Verification<\/strong><\/h2>\n\n\n\n<p>The webinar covers the critical aspects of business verification and how it can help organizations establish trust and achieve compliance in the global business landscape. The speakers emphasize data collection, risk assessment and continuous monitoring as essential steps in onboarding.<\/p>\n\n\n\n<p><strong>Data Collection<\/strong><\/p>\n\n\n\n<p>The first step for organizations onboarding a business is determining if it\u2019s legitimate. That often starts with collecting and verifying the right data based on the business type. That can include information around business vitals, articles of incorporation, and ownership and control.<\/p>\n\n\n\n<p>\u201cWithout the means of collecting accurate information in a way to verify the authenticity of that information,\u201d Szaroleta said, \u201ca company will struggle to appropriately perform the remaining stages of the KYB process.\u201d<\/p>\n\n\n\n<p><strong>Risk Assessment<\/strong><\/p>\n\n\n\n<p>Determine the risk associated with the business. The <a href=\"https:\/\/www.trulioo.com\/blog\/compliance\/risk-based-approach\">risk-based approach<\/a> to onboarding differs for each organization, so it\u2019s essential to customize processes to match each risk level.<\/p>\n\n\n\n<p>Risk signals to consider include:<\/p>\n\n\n\n<ul>\n<li>Inclusion on a <a href=\"https:\/\/www.trulioo.com\/blog\/sanctions-pep-screening\">sanction or watchlist<\/a><\/li>\n\n\n\n<li>Involvement in illegal activities<\/li>\n\n\n\n<li>Cross-border relationships<\/li>\n\n\n\n<li>Business type<\/li>\n\n\n\n<li>Business location<\/li>\n\n\n\n<li>Ownership background<\/li>\n\n\n\n<li>Ownership percentage<\/li>\n<\/ul>\n\n\n\n<p><strong>Ongoing Monitoring<\/strong><\/p>\n\n\n\n<p>Risk mitigation doesn&#8217;t stop at onboarding. Continuous business monitoring is crucial in detecting risk changes.<\/p>\n\n\n\n<p>Automated collection tools can fuel ongoing monitoring and create reliable risk signals when changes occur.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-efficient-and-scalable-business-verification\"><strong>Efficient and Scalable Business Verification<\/strong><\/h2>\n\n\n\n<p>Efficient business verification requires a systematic, step-by-step approach. It\u2019s essential to collect reliable data, especially when verifying businesses with global connections.<\/p>\n\n\n\n<p>Layered business verification with automation can give organizations the tools they need in one place to meet customer expectations for speed, accuracy and convenience. Those streamlined capabilities help organizations accelerate business onboarding, improve risk mitigation and cultivate trusted relationships.<\/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 section\">\n\t\t<a href=\"https:\/\/id.trulioo.com\/global-mastery-how-to-accelerate-business-verification-worldwide.html\" 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\/09\/trl-web-global-kyb-sep2023-thumbnail-468x263.jpg\">\n\t\t\t\t\t\t<source media=\"(max-width: 768px)\" srcset=\"https:\/\/www.trulioo.com\/wp-content\/uploads\/2023\/09\/trl-web-global-kyb-sep2023-thumbnail-608x342.jpg\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.trulioo.com\/wp-content\/uploads\/2023\/09\/trl-web-global-kyb-sep2023-thumbnail-304x171.jpg\" width=\"304\" height=\"171\" itemprop=\"image\" alt=\"Business Verification\" 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\">Watch the webinar<\/p>\n\t\t\t\t<h4 class=\" mb-1 text-green-900\" >Global Mastery: How to Accelerate Business Verification Worldwide<\/h4>\t\t\t\t<p class=\"p-sm md:p-xs text-green-900\">Discover strategies for mastering layered business verification, enhancing onboarding and establishing powerful, trusted relationships that last throughout the customer life cycle.<\/p>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/a>\n<\/div>","protected":false},"excerpt":{"rendered":"Business verification can be a complex, time-consuming, manual process, but it\u2019s also a common requirement&#8230;","protected":false},"author":8,"featured_media":38167,"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":[205],"post-topics":[111,367],"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>Layered Business Verification Puts Global Expansion Within Reach<\/title>\n<meta name=\"description\" content=\"Discover the keys to mastering layered business verification to enhance onboarding and establish powerful, trusted relationships.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.trulioo.com\/blog\/business-verification\/global-expansion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Layered Business Verification Puts Global Expansion Within Reach\" \/>\n<meta property=\"og:description\" content=\"Discover the keys to mastering layered business verification to enhance onboarding and establish powerful, trusted relationships.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.trulioo.com\/blog\/business-verification\/global-expansion\" \/>\n<meta property=\"og:site_name\" content=\"Trulioo\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/trulioo\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-27T17:38:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-29T15:20:35+00:00\" \/>\n<meta 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