For businesses looking to reduce risks to their finances and reputation by being absolutely certain about the people they are doing business with, this tool is revolutionary.

The new tool is a reaction to increased legal requirements in a number of industries, which force companies to collect and carefully examine large amounts of data about their suppliers and partners. Companies in the modern world have to be cautious about the dangers of doing business with organizations that are engaged in money laundering, fraud, identity theft, terrorism financing, and other illegal activities.

AU10TIX is a global leader in identity verification and management systems, providing enterprises with unmatched security and effectiveness. AU10TIX's product satisfies the entire business verification requirements of organizations ranging from sole proprietors to major corporates, including KYC checks for Ultimate Beneficial Owners (UBOs) and connected businesses, by combining KYB with Know Your Customer (KYC) processes.

By offering a comprehensive check against more than 1,000 government registries and more than 200 countries in a single automated workflow, the solution establishes a new industry standard. In contrast to other methods that take days and rely on unauthorized, possibly out-of-date databases, AU10TIX's KYB solution completes extensive checks in a matter of seconds. In order to guarantee continued compliance and risk management, it also provides comprehensive profiling and constant monitoring.

The KYB solution from AU10TIX comes in three different packages: Business Validation, Sole Trader Verification, and Enterprise Verification. Each package is made to fit the unique requirements of different types of enterprises. A range of capabilities, including as AI-powered document verification, sophisticated risk assessments, ongoing compliance monitoring, and thorough AML screening, are included in each package.

According to AU10TIX CEO Dan Yerushalmi, "Our customers have been requesting a comprehensive KYB solution because money laundering and fraud have become far too prevalent in the corporate world." "In 2024, maintaining a safe business environment and identifying bad actors will be made possible by our unified KYB/KYC solution."

Together with this cutting-edge product, AU10TIX and Frost & Sullivan will co-host a webinar to discuss fraud in further detail and offer practical advice on how to stop it.