

🎧 The Fintech and AI Series: KYB
May 14, 2025
Join Will Lawrence, CEO of Greenlite, who specializes in AI for financial crime compliance, and Kurt Ruppel, CTO of Middesk, rethinking business customer identification. They discuss the evolution from manual checks to AI-driven solutions in fintech. The pair dives into the critical differences between KYB and KYC and the need for ongoing business monitoring. They also explore how AI is transforming compliance, navigating regulatory challenges, and uncovering new opportunities for innovation in fraud prevention.
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Episode notes
KYB vs KYC Explained
- KYB focuses on identifying and understanding businesses as entities, unlike KYC which is about verifying individuals.
- Businesses require ongoing monitoring beyond onboarding due to their complex and evolving nature.
Automate Low-Risk Compliance Tasks
- Use AI to handle standardized, high-volume compliance tasks like sanction and adverse media alert reviews.
- This automation increases operational efficiency and allows redeployment of resources to higher-value work.
AI Adoption Necessity in Finance
- Financial institutions must adopt AI to stay competitive and scale effectively amid industry consolidation.
- The risk management of AI use needs meaningful performance improvements to justify its adoption.