Merchant Onboarding | Verify Bank Statement & Utility Bill

Merchant onboarding (KYB)

The problem:

In order to fulfill the requirements in KYB (Know Your Business), it is instrumental to verify submitted documents.

Preventive measures are key against the risks involved such as fraud, money laundering, and other criminal activities. Today, it often takes days, if not weeks, to onboard a merchant.

Submitted documents can often not be sufficiently verified, which expose organizations to unnecessary and high risk.

The solution:

DIRO provides an improved onboarding experience where merchants can verify bank account ownership, proof of address, and incorporation documents in real-time.

In addition to authenticated documents, DIRO creates a machine-readable JSON files that can be fed into your decision engine for automation. DIRO helps to eliminate fake and stolen credentials, manual reviews, and OCR errors.

DIRO’s solution makes it possible for international financial institutions such as banks, payment providers, and crypto companies to have global coverage for regulatory compliance that otherwise was difficult or not possible.

Bank account verification

Directly from source with traceroute and provenance

Bank statement verification

Directly from credit bureaus with rating and historic data

Insurance document

Verify business insurance and coverage to reduce risk

Tax return

Directly from government sources with live data

Crypto account verification

Any crypto exchange, custodian, or wallet

Utility bill verification

Any electricity, gas, cable, water, or telecom globally