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
Incorporation verification
Verify good standing directly from government sources
Identity verification
Verify identity via bank, utility, and government data
Credit report
Directly from credit bureaus with rating and historic data
Off-shore services
Banking, legal, and other services in remote locations