Verify businesses and accelerate onboarding times.
Business verification will reduce manual reviews and improve operational efficiency. Through our partnership with ID-Pal, you can verify businesses, identify beneficial owners and make confident onboarding decisions.
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Why choose business verification?
See who really owns a business
Complex ownership structures can hide who is in control. Automatically identify directors, shareholders and beneficial owners, map control relationships and document your findings. Your team gets a clear picture without hours of manual research.
Dig deeper into higher-risk businesses
PEP links, higher-risk jurisdictions and complex structures call for a closer look. Collect documents directly from your client through a secure self-service portal and validate them against trusted data sources. Apply enhanced reviews, case escalation and risk-based policies in line with your governance and local obligations.
Stay ahead of changes after onboarding
Business verification doesn’t stop once a customer is approved. Ownership, directors and company status are continuously monitored, and your team is alerted when something changes. You can reassess risk as circumstances change.
Strengthen your KYB and AML processes
Every business verification result is traceable and audit-ready, so you have the evidence you need when regulators ask. Pair it with ThirdEye’s customer screening and transaction monitoring for protection across the whole customer lifecycle.
FAQ
How does the ThirdEye and ID-Pal partnership work?
You work with ThirdEye throughout, while ID-Pal’s specialist team supports the business verification platform. If you’re new to ThirdEye, ID-Pal can cover your full KYB process. If you’re an existing ThirdEye customer, ID-Pal works alongside your ThirdEye solutions: ID-Pal handles business verification, and ThirdEye handles customer screening and monitoring.
What does business verification include?
Business verification includes the checks used to verify that a business is legitimate, active and safe to onboard. This typically involves confirming company registration details, business status, registered address, directors and ownership structure.
A strong business verification process should also include UBO identification to understand who ultimately owns or controls the business, director checks, and identity verification for relevant individuals such as directors, beneficial owners or authorised representatives.
Can we configure verification workflows to match our risk appetite?
Yes. Workflows can be configured from standard business onboarding to enhanced due diligence for higher-risk corporate clients. You set the risk thresholds, automated decision triggers and onboarding checks to match your policies.
Is KYB different from KYC?
Yes. KYC, or Know Your Customer, is the process of verifying an individual’s identity. KYB is the process of verifying a company or business entity and understanding who owns, controls or benefits from it.
In practice, KYC usually focuses on checks such as identity document verification, biometric facial matching, liveness testing, address verification and AML screening against sanctions, PEPs and adverse media lists. KYB goes further by checking business registration details, company status, directors, shareholders, beneficial owners, ownership structures and, where required, the individuals behind the business.
The two processes are closely connected. A business may pass basic company checks, but regulated firms often still need to verify the people associated with that business, such as directors, UBOs or authorised representatives. This means KYB will often include KYC checks as part of the wider business verification process.
For regulated businesses, the difference matters because onboarding a company introduces risks that do not exist in the same way when onboarding an individual. These can include shell companies, complex ownership structures, hidden beneficial ownership, sanctioned entities, fraudulent business applications or changes in company status after onboarding.
A strong compliance process should therefore treat KYC and KYB as related but distinct controls. KYC helps confirm that an individual is who they claim to be. KYB helps confirm that a business is legitimate, active, properly registered and not exposing your organisation to unacceptable financial crime or regulatory risk.
How does business verification fit into KYB and ThirdEye Customer Screening?
Business verification is the first step in your KYB or Know Your Business workflow. Before a corporate client moves into screening or due diligence, you need to confirm the business is legitimate and know who is behind it. ID-Pal confirms and documents the business by checking business registration details, company status, directors, shareholders, beneficial owners, ownership structures and, where required, the individuals behind the business.
