Business Verifications Essentials Overview

Business Verifications Essentials Overview

For customers on the Essentials plan, Persona offers a lightweight version of our Know Your Business (KYB) solution known as Business Verifications Essentials. This solution enables startups to do just the basics of business verification for businesses in the US using a set of foundational business verifications and reports.

An overview of what’s included in Business Verification Essentials

Customizable business onboarding flow with document collection

1. Automatically collect key pieces of business information, including documents like Articles of Incorporation and Shareholder Registry
2. Edit and customize the default business inquiry flow with an intuitive flow editor to match your branding

Foundational business verifications and reports

Business Verification Essentials includes the following verifications and reports:

1. TIN Verification: Verify any US business’s EIN (Employment Identification Number) against the IRS database. (US only)
2. Business Registry Verification: Verify a business against Secretary of State offices. (US only)
3. Business Adverse Media: Screen against 300+ million articles to identify any unfavorable information associated with a business.
4. Business Watchlist: Conduct screening against 100+ global sanction and warning lists to meet regulatory requirements.

Automation and a manual review process

1. Consolidate all business risk signals within a single view for your manual review team inside a Case
2. Edit the default Workflow logic to automate decisioning inside Workflows

How it differs from Know Your Business

Our standard KYB offering includes additional functionality like

• International coverage to verify businesses globally
• More business verifications and reports like the Business Registrations Report and Business Associated Persons Report, which may be necessary for Enhanced Due Diligence requirements
• KYC orchestration to automate outreach and verification of listed UBOs

For more detailed information and to get started with standard KYB at Persona, please contact us here.