Blogs
Building the future of fintech.
Key Components of Business Verification Process
Business verification is crucial for institutions that onboard a lot of businesses. This process is crucial in preventing fraud cases and ensuring there’s regulatory compliance. For businesses in the financial and investment sectors, business verification becomes even more important. If you combine the business verification process (KYB) with the latest verification technologies and AI, it […]
Read more
How to Integrate Balance & Transaction Verification into Audit Workflow?
Auditors, compliance teams, and financial controllers have one common challenge: how to validate balances and transactions without drowning in manual work. Traditional methods like requesting PDFs, cross-checking statements, and relying on scanned images are slow, error-prone, and open to manipulation. That’s why most businesses are moving towards automated balance and transaction verification. It has quickly […]
Read more
Why Traditional Audit Confirmations Fail (and What to Do Instead)?
Auditors are under constant scrutiny with changing regulations. Internal auditors are under pressure to comply with regulations, impress stakeholders, and keep public data safe. Third-party regulators that conduct balance and audit confirmations are under pressure to ensure there are no red flags hidden. With multiple recent cases of audit failures due to a lack of […]
Read more
Positive vs. Negative vs. Blank Confirmations: What Is the Difference?
Positive vs. Negative vs. Blank confirmation is something auditors struggle to choose between when doing balance and audit confirmation. Auditors use their professional judgement to determine which balance confirmation method works best in reference to the audit’s risk of material misstatement. A good auditor must use analytics, systematic thinking, and objective judgments to determine which […]
Read more
How Bank Account Verification Helps Prevent Financial Fraud?
Fraud isn’t just “on the rise”; it’s growing at an unprecedented rate, and most businesses don’t know how to handle it. In just 2024 alone, the U.S. FTC reported that consumers lost over $12.5 billion, up 25% from 2023. On the B2B side, 79% of organizations faced attempted or actual payments fraud in 2024, with […]
Read more
Risks of Not Verifying Businesses During Onboarding
Business verification is the backbone of businesses that want to scale quickly while maintaining security & reputation. Having a KYB pipeline isn’t just a “nice to have”; it’s a way to mitigate risks in the world of business. When you bring a company into your network without knowing who actually owns it, chances are you’re […]
Read more
The Complete Guide to Corporate Identity Verification
More and more businesses struggle in dealing with financial fraud. Especially with the rise of AI and sophisticated technology. Businesses that onboard or provide services to other businesses need to be more vigilant about verifying corporate identity. Not verifying business identities properly can lead to financial fraud, data breaches, and huge struggles. Not only does […]
Read more
Online Business Verification: Everything You Need to Know
Online business verification has become a crucial part of online transactions that happen today. The primary purpose is to prevent fraud. In fact, a 2023 study by the ACFE found that nearly 30% of corporate fraud cases involved fake companies posing as legitimate vendors. Whether you’re a financial institution, a fintech startup, a B2B marketplace, […]
Read more
Online Bank Account Verification: Everything Businesses Need to Know
Bank accounts are the pillar behind personal and commercial banking. Verifying a bank account has become a critical step for modern businesses to verify identity, understand finances, or disperse loans. In 2023, the global payments industry handled over 3.4 trillion transactions. That number is rising while you are reading this article. So, verifying that a […]
Read more
Top ID Verification Methods for Businesses in 2025
Digital fraud keeps getting smarter, so do the ways to stop it. As a business, you need to be vigilant all the time. Especially if you’re a bank, crypto exchange, e-commerce, healthcare, or lending company. When you’re onboarding customers, you can’t afford to get ID checks wrong. Customers want quick signups, but businesses can’t afford […]
Read more
