Know Your Customer vs Know Your Business?

Trust in banking hinges on the ability of financial institutions to safeguard identities and keep consumer and business data private, particularly during online account opening and onboarding.

Unfortunately, traditional Know Your Customer (KYC) and Know Your Business (KYB) verifications is often synonymous with tedious and manual processes, friction, and onboarding delays. The longer these processes take, the greater the negative impact to client acquisition.

My guest on the Banking Transformed podcast is Chris Luttrell, the CEO of IDology. She discusses what can be done to foster trust across the entire customer journey, while improving the customer experience for consumers and businesses.

This episode of Banking Transformed Solutions is sponsored by IDology

ExpectID® Business is an automated KYB solution that is imperative for any business that wants to remain competitive. With ExpectID® Business, IDology has combined KYB and KYC due diligence with multiple layers of risk detection and fraud intelligence into one powerful, programmatic solution. The solution goes beyond KYB and KYC verification to provide a holistic perspective of the risk associated with both the business and the primary user.

For more information visit https://www.idology.com/business-verification/