Cut operational overhead, onboard more customers, and reduce a lengthy KYB process with Enigma.
Enigma verifies businesses using trusted government sources. Prevent friction on audits with lower false negative rates.
Reduce a time-consuming KYB process with a 1.5X Increase in Instant Approvals
Enigma can instantly verify more businesses than other providers to reduce time and costs spent on KYB by 80%
Address & Name Verification
Verifying the legal name, brand name and operating addresses of a business can impact various decisions during the due diligence process. Compliance, underwriting, and other financial decisions often necessitate a comprehensive understanding of a business's names and physical presence.
Business Registration Filings
Verifying the business's registration filing with the Secretary of State is a important part of due diligence because the status of that business is often tracked at the state level.
Taxpayer Identification Number
Confirming with the IRS that the TIN is valid and that it matches the business name submitted is often a critical component of business verification.
Watchlist Screening
Identify if the business is associated with money laundering, terrorism financing, white-collar crime, and other unusual activities in support of your Anti-Money Laundering (AML) programs.
People and UBO Identification
Understanding the ownership structure and executive team of a company is extremely important in helping to maintain compliance with Ultimate Beneficial Owner requirements.
Industry and Risky Activities
Identify the industry of a business and whether they offer services you consider to be high risk activities.
Enigma KYB helps financial institutions increase instant Secretary of State registration fill rates by 50%. With Enigma, these FIs increased their instant verification to 72.4% on average, across segments like medical payments to online banking.
