KYB & Business Partner Verification with KYCnow
KYB & Business Partner Verification with KYCnow
With KYCnow's digital KYB solution, we help industrial and commercial companies to thoroughly vet their global suppliers and customers.
Find the perfect KYB solution in 30 minutes
International business partner verification with KYCnow
Financial crime, sanctions, payment behavior and supply bottlenecks: Do you know your business partners?
Collaborating with existing and, above all, new companies makes your business attractive and promises growth and profitability. However, in our globally interconnected world, this also presents many challenges.
While you may have known your business partners personally in the past, collaboration, especially at the international level, is becoming increasingly complex. Do you know exactly how your suppliers' and customers' businesses are structured? For example, do you know their supply chains down to the smallest detail?
The answers to these questions are not only of legal importance – they are also crucial for the long-term success of your company. A comprehensive due diligence process for business partners is therefore no longer optional; it is essential today.
Automated KYB procedures: Improve data quality and reduce business risks
To gain clarity about your new and existing business partners, up-to-date and comprehensive data is essential. For the sake of cost-efficiency and scalability of your business, data verification must be digital and automated.
With our KYCnow solution, we offer you a modular platform that meets all your requirements for digital business partner verification. KYCnow provides you with access to over 68 million national private customer records and 380 million national and international corporate and business customer records.
With KYCnow, all relevant information about your business partners is just a few clicks away.
The 3 phases of business partner due diligence
1. Screening of new business partners
Before collaborating with new partners, the following risks should be examined:
- Country risk
- Industry risks
- Sanction risks
- Money laundering risks
- Terrorist financing risks
- Risks in the supply chain
2. Updating existing partners
Information from your existing partners should be updated regularly to identify new risks early. In particular, the following should be checked:
- Changes to master data
- Negative news
- Changed risks
- New legal situation
3. Review based on events
If a short-term event occurs, you should react immediately. Reacting too slowly to new circumstances can be detrimental to business.
Changes require an immediate assessment of the risk of sanctions or new risks in the supply chain.
The complexity lies in recognizing relevant changes in a timely manner.
KYCnow: Your KYB solution at a glance
Basic Information
Provision of master data, beneficial ownership, interrelationships and intermediate companies in seconds.
Sanctions list check
Daily checks of all relevant persons against national and international sanctions lists.
Name Screening
Screening of individuals and beneficial owners against over 1.200 PEP and risk lists.
International data
Data from 380 million companies in 186 countries and 200+ jurisdictions.
Business information
Provision of comprehensive B2B credit reports.
API and web frontend
You have the freedom to choose whether to use our interface or work in the web frontend.
This is how our customers use KYCnow
International business partner verification with KYCnow
The CHG Meridian is an internationally operating leasing company.
In its day-to-day business, the company faced various challenges: inadequate data quality, excessively high costs, and inefficient processes.
In our case study, you will learn how CHG-MERIDIAN was able to find a central tool to solve these challenges with KYCnow.
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