PR Newswire
TEL AVIV, Israel, Feb. 27, 2024
Robust Know Your Business (KYB) and Know Your Customer (KYC) Solution Validates Info Against Global Registries and Jurisdictions
TEL AVIV, Israel, Feb. 27, 2024 /PRNewswire/ -- AU10TIX, a global technology leader in identity verification and management, today launched an innovative Know Your Business (KYB) solution that enables companies to know exactly who they are doing business with and avoid potential financial and reputational losses. By combining KYB with Know Your Customer (KYC) processes, the offering addresses every KYB business need, from sole traders to corporates, including KYC for UBOs and associated entities.
Increasingly rigorous regulatory demands are forcing businesses across all sectors to collect and analyze more data about the identities of their partners and vendors. Companies must also ensure that they are not working with unscrupulous businesses involved in identity theft, fraud, money laundering, terrorist financing or other crimes. However, most available KYB solutions are limited in scope, forcing companies to engage with multiple vendors for KYC, forgery tests, serial fraud detection and other crucial capabilities.
AU10TIX's unified KYB and KYC solution provides a comprehensive check against 200+ jurisdictions and over 1000 government registries in one automated workflow. It provides thorough and comprehensive checks within seconds, while other vendors require days and rely on unofficial and potentially outdated databases. The new solution also provides full profiling and continuous monitoring, ensuring business integrity for compliance and risk management.
AU10TIX's KYB solution comes in three packages:
"Our customers have been requesting a comprehensive KYB solution, because money laundering and fraud have become far too prevalent in the corporate world," said Dan Yerushalmi, CEO of AU10TIX. "Our unified KYB/KYC solution is essential for identifying bad actors and maintaining a safe business environment in 2024."
Key benefits include:
In addition to this new business offering, AU10TIX will also be addressing fraud through a joint webinar on Tuesday, March 5 at 11:00 am EST. AU10TIX and Frost & Sullivan will host an exclusive session on "Disrupting Fraud with AI: Actionable Insights to Effectively Combat Fraud." Register here to take a deep dive into the world of fraud detection and prevention.
About AU10TIX
AU10TIX, a global identity intelligence leader headquartered in Israel, is on a mission to obliterate fraud and further a more secure and inclusive world. The company provides critical, modular solutions to verify and link physical and digital identities so businesses and their customers can confidently connect. Over the past decade, AU10TIX has become the preferred partner of major global brands for customer onboarding and customer verification automation – and continues to work on the edge of what's next for identity's role in society. AU10TIX's proprietary technology provides results in less than 8 seconds, enabling businesses to onboard customers faster while preventing fraud, meeting compliance mandates and, importantly, promoting trust and safety. AU10TIX is a subsidiary of ICTS International N.V. (OTCQB: ICTSF). For more information, visit AU10TIX.com.
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SOURCE AU10TIX
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