Managing any financial services company can be fraught with risk. Many Fintechs require close to constant risk analysis to ensure that the company remains compliant and proper, as well as looking out for being targeted by criminals. KYB used to be a nice-to-have. Now it is a must-have in the fintech industry. Fraudsters and money launderers act in real-time. But if a company only reviews its data periodically, there will be long periods where its database will be static. The data might not be up-to-date, meaning that any risk assessments may not be up to date either.
Thanks to real-time data from commercial registers of 300 jurisdictions connected to Vespia, Fintechs can get applicants verified in less than a minute, no matter their country or language. Vespia helps Fintechs examine the entities they are dealing with, which allows them to decide whether they are authentic or used to conceal the owners' identities for illegitimate purposes.
Verify customer documents while conducting ongoing AML screening against over 4000 Anti-Money Laundering lists.
With Vespia, you can discover politically exposed persons (PEP), their relatives, and close associates (RCA) as well as sanctioned organizations, organizations of special interest (SIP), and special interest entities (SIE). Additionally, you can check global negative news (Adverse Media) and conduct a Google search on any person or company.
If you wish to get extra information, use Vespia's customised Legal Entity Verification Questionnaires: enter the company’s representative email address and proceed with the request. Once the receiver fills all required fields, you will see all the details inside your verification.
To attract users, Fintech businesses have to do everything they can to reduce onboarding time and make the verification process engaging. With Vespia, Fintech can run all compliance processes using real-time data for business or customer verification.
Fraudsters use fake identities to obtain rewards, complete transactions or launch phishing attacks. Fintech needs to stay vigilant to prevent bad actors in the first place. By using a compliant environment, Fintech firms protect their business and ensure a secure and reliable financial environment.
Verify clients at all stages of their journey using a friendly user experience.
KYB - Business Verification: Simplify your KYB process with a full-cycle business verification solution.
KYC - Identity Verification: Smooth onboarding and compliance have finally come jointly. Verify users anywhere in the world with ID verification.
Ultimate Beneficial Owners (UBO) Check: Identify the people who ultimately have power over and reap gain from a legal entity or a transaction. Understand who are the board members, directors, secretaries, founders, and shareholders.
Anti-money laundering-Screening: Get to know customers and catch high-risk users with AML screening. Dig into information regarding PEP, RCA, SIP, SIE, Sanctions, and Adverse Media.
Built with the latest technology, Vespia assists all types of fintech with verifying their customers faster and ensuring that their business is compliant.
Accelerate your onboarding flows and offer faster processes to your customers. Solve challenging KYB processes with clients all over the globe in a matter of seconds, and most importantly, with all the information in one place.
Attract new companies by verifying their business attributes and owners. All the data is fetched in real-time and keeps your app user experience untapped.
Avoid red AML flags with business verification and ID Verification. These processes are necessary for most businesses and the people behind them to ensure that their compliance flow is reliable. And for the lending business, this process is even more noteworthy because it helps to determine whether you should loan someone a certain amount of money or not.
The payment gateway platform needs to guarantee that all the merchants or the customers have no sanctions. Moreover, Vespia offers an entire KYB/KYC platform for payments gateway to process all the verification processes and have access in real-time to the data to assure that the buyer or seller is well compliant.