Vespia has made it easy to find out who you’re dealing with, no matter where they are established in the world. All the information you need to know is just a few clicks away.
KYB and KYC Solutions for Banks
Ensure compliance and secure banking operations with a platform that verifies, screens, and onboards businesses from anywhere in the world 90% faster.
Tired of lengthy onboarding processes?
Conduct Customer Onboarding in Minutes
Verify businesses by collecting data and filling grey areas across 300+ jurisdictions with a solution that integrates easily into your website and app.
Process UBO data efficiently and accurately
Automate Data and UBO Research
Cross-check business data against information from business registries in 190+ countries instantly with one platform.
Ensure your bank stays transparent and compliant
Enable Your Business Customers to Run KYB and AML Checks
Vespia’s Widget allows your bank’s business customers to perform KYB/AML screening before sending and receiving payments.
What our customers say about Vespia
Vespia is bringing KYB and KYC into the modern world. With their help, we make sure that our compliance team fills in the data gap in a user-friendly way to simplify the process of staying AML compliant and please the regulators.
Our experience with Vespia has been extraordinarily positive. Apart from their technological excellence and commitment to compliance, what truly sets them apart is the unparalleled support from their technical team.
How Does Vespia’s KYB Platform Work for Bank Providers?
A combination of KYB, KYC, and AML data are sorted and analyzed to ensure compliance with every transaction.
Business Data and UBO Discovery
AML Screening
Identity Verification
Onboarding Flow
Automatic Risk scoring
Real-time Monitoring
Reporting and audit trail
Business Data and UBO Discovery
Access Global Data on Business and Ownership
AML Screening and Monitoring
Automate AML Screening and Monitoring
Identity Verification
Verify Company Founders, UBOs, and Crypto Wallet Owners
Onboarding Flow
Simplify Standard Onboarding Flows
Automatic Risk scoring
Conduct Risk Scoring with Advanced Technology
Transaction Monitoring
Run KYB, KYC, and AML Monitoring for Real-Time Alerts
Reporting and audit trail
Access Reporting and Audit Trails
Core Features
UBO Discovery
Identify UBOs, shareholders, and business structures effortlessly
Vespia’s Widget
Enable customers to run KYB/AML screening on businesses directly on your platform with Vespia’s widget.
Official Document Sources
Verify the legitimacy of submitted documents with access to over 7,000 document types from official sources in 190+ countries
KYB Monitoring
Periodically verify businesses based on risk profiles and other specifications you need
AI Compliance Officer
Get notified on changes to the business with real-time alerts
Automated Risk Scoring
Advanced technology allows you to assess business risks easily with a custom matrix and rules set by your bank
Real-Time Data
Unlock registered business information for 300+ jurisdictions
Unified Data Format
Access real-time data for 80% of our jurisdiction databases
Compliance Audit Trail
Conduct comprehensive screening with data from 4,000 lists for PEP, sanctions, and adverse media
Global Business Verification
On-premise, private cloud, private cloud subscription or single tenant SaaS
Real-Time Data Reviews
Incorporation document verification with Julia AI
AML Screening
Reverify businesses depending on their risk as often as you need
White Label Onboarding
Customize onboarding based on your bank’s needs — modify onboarding steps, logic, and AML questions
Compliance Audit Trail
Streamline record-keeping with ready-to-present audit logs and trails for regulators
Multiple Deployment Options
On-premise, private cloud subscription, or single tenant SaaS
Integrate with Vespia API and SDK
No need to sacrifice your existing flow. Vespia is universally compatible.
1// RequestKybVerificationInput mutation
2
3mutation Mutation($input: RequestKybVerificationInput!) {
4 requestKybVerification(input: $input) {
5 id
6 }
7}
8
9{
10 "input": {
11 "name": "company_name",
12 "registrationCode": "registration_code",
13 "countryCode": "country_code"
14 }
151Authorization: Bearer $tokenIdentify risks and make informed decisions
Run Risk Assessments Effortlessly
Vespia uses AI technology to create and analyze customer risk profiles to help you plan your next move.
Frequently Asked Questions
What is KYB in banking?
KYB (Know Your Business) refers to the process of identifying and verifying the legitimacy of a business or organization to manage risks for the bank and ensure Anti-Money Laundering (AML) compliance. The banking industry follows AML and Counter-Terrorist Financing (CTF) regulations to protect customers and financial institutions from financial crime.
What is the KYB compliance process?
The KYB compliance process looks into verifying business information that includes: business registration, corporate structure, operational status, and Ultimate Beneficial Owner (UBO). To confirm the legitimacy of information submitted, banks must access business databases and review relevant documentation.
How does Vespia enable customers to verify businesses?
Vespia provides a widget that can be integrated into your banking website or app. This tool enables customers to run background checks on businesses before making large transactions. Vespia’s system will cross-check business registries across 4,000+ databases and deliver a report to customers. This way, customers can ensure the transaction is legitimate before making any payment.
How does Vespia’s KYB solution streamline the verification process for banks?
Vespia’s KYB solution is universally compatible with banking systems thanks to API and SDK integration. The platform can automate the full verification process with global databases using advanced technologies. Best of all, business customers can verify other businesses before pushing through with transactions. With Vespia, businesses are verified 90% faster, making the verification process a smoother and more pleasant experience for both bank and business.
What is KYB vs KYC?
KYC looks into verifying individual customers while KYB takes a deeper dive into business entities to check for legitimacy, ownership structures, and the nature of their transactions.