How do KYB and KYC checks protect a Marketplace against fraudsters?

With technological improvements and arising innovations, online marketplaces have been digitized globally. Especially during the pandemic, there was a massive growth in e-commerce sales, placing a huge trend for e-shopping, including grocery, food, medicines, and many other services.

Preventing bad actors and making online marketplaces a safe platform for sophisticated customers is the primary requirement of the system.

Vespia provides you with affordable and friendly onboarding to build a fraud-free community.
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KYB and KYC for Online Marketplaces

The role of KYC standards for Marketplaces

KYC measures must enforce marketplaces with high potential for business because of their exposure to identity theft scams.

Criminals onboard the platforms utilizing fake data, and act as sellers/buyers to steal customers' identities.

E-commerce accounts are in dire demand of KYC checks where we can check the consumer's genuine identity while onboarding.

KYC measures mainly enclose facial recognition, address, and document verification which can keep the bad actors away from the scheme.

Build a marketplace experience that's miles ahead

Immediate onboarding

The most ambitious online businesses view seamless customer onboarding as a competitive advantage.

With digital onboarding, you can sign companies up in a breeze through an automated dashboard or a customizable workflow.

Provide trust and safety

  • Defend your community by verifying and certifying identities.
  • Scammers harm your community by publishing fake listings or malicious content.
  • Use our AI technology to detect and prevent identity fraudsters.
  • Compare IDs to facial biometrics so your platform gets the most potent defense against scams.

Scale up your business

With extensive international coverage, Vespia helps you enhance performance in countries you already serve and grow into new territory.

With real-time data from over 4000 AML databases and commercial registers of 300 jurisdictions, you can run KYB, KYC, and AML checks globally in less than a minute.

Guard your brand reputation

When your platform brings people together, reputation is everything. Vespia's business verification fends against bad players looking to commit fraud. It also shows the world that you are serious about protecting your ecosystem.

Stay ahead of your competitors

Provide KYB verification to the marketplace owners and users as a competitive advantage over your competitors. Be the strongest on the market while helping your customers onboard more users and help them generate more revenue in less time.

Expand your global community

Grow your global user base and promote repeat transactions with easy, smooth verification. We provide real-time data from over 4000 AML databases and commercial registers of 300 jurisdictions.

One platform for a full digital onboarding

Verify customers at all steps of their journey using a user-friendly experience.

  • Business Verification: Facilitate your KYB technique with a full-cycle business verification solution.
  • Identity Verification: Smooth onboarding and compliance have finally come together. Verify users anywhere in the world with ease.

See Vespia in action!

Tell us about your business goals, and we'll reach back with a custom-made solution. That's how we create reliable compliance. Talk to us!

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