Press Release

Exploring Youverify’s RegTech Solution offering

Youverify was established in 2021 to make compliance simple and to allow the automation of anti-money laundering strategies compliance in order to prevent fraudulent transactions and manage risks all in one place. Youverify can be utilised by banks, fintechs, NBFIs, crypto platforms, gig platforms,  gaming and casinos, as well as other commercial platforms such as marketplaces.

Youverify offers a range of solutions that allow for seamless compliance procedures. Some products and services offered by Youverify are highlighted and explained below.

1. Customer Risk Assessment

Customer risk assessment is a risk intelligence solution offered by Youverify that allows entities to achieve over 70% for mitigation. It is powered by artificial intelligence, and it can help leverage adaptive and dynamic risk assessments to stay on par with the constantly evolving financial fraud patterns. This tool allows for effective and proactive risk management.  It also has global coverage and allows for real-time monitoring; the risk intelligence solution builds customer risk ratings and assigns a risk score based on data collected from a wide range of public and private sources and risk factors. That way, identifying and monitoring potentially risky customers can be done automatically. Request a demo.

2. Know Your Transaction Products

– Transaction Monitoring

With Youverify’s transaction monitoring product, false positives can easily be eliminated through AI and machine learning algorithms that monitor 6000+ global data sources, and it helps to flag fraudulent transactions even before they occur. With this tool, customer translation, payment and other relevant data can be shared safely as it has secure APIs. It also allows for real-time investigation and reporting.

– Transaction Screening

This product allows for real-time translation screening; customer transaction screening can be done based on preset rules, risk levels, compliance lists and payment sources. Suspicious transactions can be identified and blocked in real-time.

– Crypto Monitoring

This allows for real-time transaction screening and monitoring of crypto transactions. It is a robust crypto KYC/AML verification-compliant solution for all crypto transaction-related needs. Suspicious transactions can be spotted, and the go and fewer false positives are obtained from screenings.

2. Know Your Business Tools

– Business Verification

This solution has global coverage; Youverify’s Business Verification Solution can help uncover hidden threats to one’s business early on in a third-party relationship. It is robust and can perform Ultimate Beneficial Owners Screening, which is very important in compliance.

– Address Verification

Address verification is very important in compliance; with this tool, accurate business verification can be done globally. It can help verify business existence from 6000 registries and government-backed databases to ensure adequate risk management and to identify illegal organisations using fake addresses before they are onboarded.  

– Identity Verification

Identity fraud is a crime that can accompany other illicit acts, such as money laundering. Therefore, it is essential that it is tackled. Youverify’s Identity Verification solution takes an average time of a second and a completion rate of 99%. It can help verify the identity of key stakeholders, including Ultimate Beneficiary Owners, shareholders and employees, which allows for seamless onboarding and safe transactions as well as the eased fulfilment of compliance regulations or requirements.

– Sanction List

With an average time of a second per verification, relevant business stakeholders can be screened against global sanction lists for thorough risk assessment before a third-party business relationship is established.

3. Know Your Employee Products

– Address Verification

With Youverify’s KYE, address verification screening processes can be made easier whilst trying to onboard staff; personnel can globally verify the addresses of employees automatically anywhere in the world with a low error margin.

– Professional Certificate Validation

While this tool might not be highlighted enough, it is a useful tool that combats fraud. These two help to secure businesses from potential criminal liability and bad repetition by verifying employee professional certification during employee onboarding reduced with this toe only write fully qualified candidates hired there for smarter hiring decisions are made. You can join the waitlist here.

– Employment record check

Youverify’s Employment record check helps to verify candidates’ employment records and history when they are being considered for higher reports, including work history, name of the company, duration of employment and other available information that can be generated upon request. This is useful for Know Your Employee procedures and can help identify the best candidates. This allows for a comprehensive global employment background check.

– Education verification

Youverify’s Education Verification tool allows for the employment of reliable employees as employee education status and credentials are verified in order to confirm qualifications and to ensure that only qualified and true story candidates hired with real-time information on degrees completed attendant state and other available transcript information can be generated upon request.

– Reference check

This tool replaces manual reference checkers by allowing for automated processes that stay on time and label faster. Higher institutions can be made when candy references are verified in real time globally.

– Credit check

Youverify’s credit check solution can also be a critical tool for employment processes as well as the onboarding of employees. In some industries, credit checks can be a paramount process for employees or individuals but a big consideration for higher. These two offer accurate credit check traditions for informed decision-making and assessment on hiring candidates and employees into sensitive positions. This helps evaluate the trustworthiness ability and financials of individuals who are being considered for employment. This is time and cost while hiring our boarding and employees through your time credit check solutions.

4. Know Your Customer Products

– ID documents verification

Youverify ID document verification service provides a quick and seamless way for businesses to verify the attitudes of their customers in a very secure way. Government-issued documents can be scanned and authenticated across a global document verification network.

– ID data matching

Real-time ID matching is possible because it is a much more reliable and effective way for entities to verify the genetics of their customers in real-time. This way, customers can easily and quickly be verified by directly verifying government-issued ID documents such as passports, driver’s licenses and national ID cards. It requires three simple steps, which involve the submission of accepted ID information so that the driver’s license verification and a result will come out quickly.

– Adverse Media screening

Adverse media screening tools are highly needed by commercial entities as it is a very important part of compliance processes as they allow entities to receive Real-Time information on negative news about an individual or business they might be in a contractual or business relationship with. It has high accuracy and low false positives as it is trained with LLM’s groundbreaking algorithm and generates results closer to human labels.

Address Verification

With the Adress Verification tool, entities can verify customer addresses anywhere in the world with zero error margin. This can help improve customer drop-off rates through KYC address verification solutions provided by Youverify. It is The perfect blend of technology and a highly trained network of agents across the country to verify customer addresses. It can also be scaled with ease.

–  Biometrics verification

 With AI-powered feature recognition and likeness detection technology that seamlessly matches the customer’s face and ID stimulus biometric verification can be done in real-time and on the goal you can average verification time of a second that allows for ID verification, selfie verification and facial authentication. This tool allows for seamless and quick onboarding.

– Live detection

The liveness detection tool allows entities to protect their business from biometric attacks and deep fixes. This way, criminals can be spotted on the goal, and customers can be rapidly onboarded. It is powered by the best technology based on artificial intelligence for a liveness detection mechanism that efficiently prevents anti-spoofing and has one of the most complete and powerful biometric anti-spoofing algorithms.

 –  Bank account verification

With this solution, entities such as banks can verify anything in a customer’s bank account for effective risk control and save digital banking to use and verify accounts in real-time without compromising the convenience of users while experiencing services offered by the bank or any related financial institution.

– Phone intelligence and verification

Potential customers can be identified as fake or fraudulent phone intelligence and verification just through their phone numbers. These two provide detailed data for risk assessment, fake account sign-up identifications and data segmentation as well as analysis. This helps mitigate fraud to a large extent and out for elaborate analysis from phone number intelligence and verification results. 

– Criminal Check

 This tool offers fast and accurate comprehensive criminal background checks on customers from a million global criminal databases for effective management and business security. 

– P E P and Sanction screening

With this solution, high-risk customers can be identified in real-time. Customers can be constantly updated about databases to protect entities after compliance with a money laundering regulator requirement; it also minimises positives by adding extra customer information such as country, gender and date of birth.

– Customer credit check

Customer credit check allows for automated credit checks on customers for informed decision-making, making detailed reports on customer credit history, and loans can be generated at one request. It guarantees Stanton accurate credit reports and calls and has global coverage.

5. Compliance workflow builder

This compliance solution allows personnel to build custom workflows that are tailored to specific compliance needs for every entity. This way, the decision-making process is simplified through an automatic no-code workflow builder to help improve user and body weight without having to compromise on EML compliance efforts so smarter compliance insurance can be made.

Still, Youverify offers a range of solutions that allows for seamless compliance management and efforts all in one place without having to compromise on compliance needs. Youverify continues to build services and develop to be a company that offers even more impeccable services than it already offers.

Bottom Line

In a constantly evolving regulatory environment, RegTech is a critical component in defending the financial sector’s integrity, preventing illicit actions, and ensuring that firms can grow in a secure and compliant environment. Embracing RegTech solutions, such as those offered by Youverify, is a strategic investment that not only satisfies compliance standards but also protects financial institutions from increasing risks and problems.

See how 750+ global companies use Youverify for KYC and AML screening of customers for compliance and real-time risk detection. Request a demo today.

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