KYB
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The Pros and Cons of Building In-House, Single Partnerships, or Waterfalled Data
KYB, or Know Your Business, represents the obligatory legal and regulatory framework binding specific financial institutions (FIs) to establish a systematic procedure for verifying business customers, confirming the identities of the business's managers and owners, and potentially engaging in continuous risk monitoring and evaluation over time. KYB poses considerable cost and time challenges due to its intricate verification demands. While these rules are relatively recent, having been introduced in 2016, they continuously evolve with the issuance of fresh regulations and guidance.
This guide explains the three different options FIs have in meeting their KYB compliance and customer onboarding goals.
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Access to the Enigma Console for search and exploration
Aggregated card transaction data including revenue estimates and spending patterns
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MCP Integration
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Address validation, geocoding, and deliverability scoring
$200/mo
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Additional MCP Seats
Extra seats for MCP users on your team
Business contact details including phone and email
$200/seat/mo
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SSO Integration
Single Sign-On for enterprise authentication
Real-time registration and good standing status
$5,000/yr
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Workspace Management
Team workspace tools and permissions management
Historical government filings and corporate records
$10,000/yr
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Contact Data
Professional contact information
Business contact details including phone and email
$0.10/contact
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Contact Data
Professional contact information
Business contact details including phone and email
$0.10/contact
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Registration Status
Current filing status per state
Real-time registration and good standing status
$1.00
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Gov Archive
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OFAC and sanctions screening
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$0.15 per match
Core identity and contact information to connect with businesses
$0.50 per match
Deeper firmographics and people data for comprehensive outreach
$0.90 per match
Enhanced + operating risk signals for deep diligence
$1.00 per match
Confirm business identity and validate basic legitimacy
$2.00 per match
Full regulatory verification and compliance checking
