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Hemanth Bhatia

Head of Product

8 min read

July 24, 2022

Leveraging Tartan's Global KYB for International B2B Client Verification

Leveraging Tartan's Global KYB for International B2B Client Verification


KYB is an extension of the KYC procedure. While KYC (Know Your Customer) targets customers or consumers, KYB (Know Your Business) centres on business owners, shareholders, and suppliers. Furthermore, with KYB, companies can identify Ultimate Beneficial Owners (UBO) and carry out AML (Anti-money Laundering) processes for them once they have verified their partner organisations. KYB compliance is critical for corporations to defend their interests while doing business with other companies. It enables businesses to identify if earnings are being misused by dishonest business owners, stockholders, or money launderers. KYB process accomplishes this by verifying if the corporate organisations they are dealing with are legitimate businesses or not. 


Tartan's Global KYB (Know Your Business) solution is critical in ensuring the authenticity of International B2B clients and leads by helping authenticate business information and prevent fraudulent activity. This solution aims to meet the demand for comprehensive cross-border business verification, especially in the context of global trade. The usage of Tartan's KYB solution is critical in today's context, where the lack of a trusted worldwide network to authenticate organisations and assess trustworthiness remains a barrier to international trade.


Why is Global KYB Essential?


The need for a global KYB process is becoming more and more necessary in today's global economy. As global trading expands, businesses face a higher risk of fraudulent activity, which could lead to significant disruptions and financial losses. KYB plays an important role in reducing these risks since it allows organisations to check the legitimacy and credibility of their international B2B clients.


The dependence of financial institutions, regulatory organisations, and government agencies on KYB procedures emphasises its relevance. KYB enables businesses to comply with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) rules by detecting possible risks and confirming that they are interacting with legitimate organisations. By confirming their business ownership structures, banking institutions can prevent money laundering and terrorist funding, supporting financial stability.


Benefits of Global KYB for Businesses


Global Know Your Business (KYB) processes provide several benefits to businesses, notably in terms of international business and business-to-business (B2B) interactions. Here are some of the major benefits of Global KYB:


1. Preventing Cross-border Fraud:


Global KYB is important in ensuring security for sectors susceptible to fraud, such as banking and insurance. Businesses can avoid cross-border fraud by verifying the authenticity of global B2B clients and leads, protecting their interests and finances.


2. Ensuring Compliance


KYB procedures enable corporations to comply with regulations and laws, to avoid penalties and legal consequences. Companies that do extensive company verifications ensure compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws, lowering the risk of noncompliance.


3. Establishing Robust Risk Management


Global KYB enables businesses to reduce financial crime risks while also protecting their brand’s image. Global KYB helps businesses to efficiently manage the risks connected with fraudulent operations by validating the legitimacy of their international B2B clients, ensuring their integrity and financial stability.


4. Safeguarding Reputation


Global KYB assists organizations in maintaining their integrity by ensuring the accuracy of information. The authenticity of information builds trust in their global connections, eventually building trust in their partners.


5. Facilitating Diligence for Investment Decisions


KYB ensures the delivery of factual data that can be used by stakeholders and investors to make informed decisions. Businesses that take advantage of global KYB provide transparent and reliable information to potential investors, allowing them to make informed investment decisions.


6. Strategic Lead Profiling


Businesses can save time and boost their success by collaborating with legitimate businesses using the KYB procedure. Global KYB allows organizations to profile and interact with reliable international clients and leads, easing processes and achieving strategic company growth.


The implementation of global KYB procedures provides businesses with a plethora of benefits such as finance, time, and reputation. Global KYB assists in informing its clients about fraud protection and compliance, reputation management, and strategic growth. Companies that leverage these advantages can confidently and ethically negotiate the intricacies of international trade.


What Sets Tartan's Global KYB Apart


Tartan's Global Know Your Business (KYB) solution stands out in the KYB landscape by offering unique features and benefits tailored to the demands of global businesses. Here's what makes Tartan's global KYB unique:


1. No Code Console and Low Code APIs for Quick Integration


Tartan's global KYB provides a user-friendly no-code interface and low-code APIs, allowing organisations to integrate the solution quickly and easily into their existing systems. Tartan's quick interface enables enterprises to accelerate the adoption of robust KYB processes while avoiding hefty technological overhead.


2. Robust Performance and Coverage


Tartan’s Global KYB ensures a quick TAT between 0.5 Sec to 1 Sec for verifying global businesses. This ensures that your customers can verify their business within your product journey itself. The quick TAT also makes sure that your operations team can verify the clients/leads faster without any disruption to the current operations. 


3. Global Reach and Effortless API Integration


Tartan's global KYB, with its worldwide reach, enables organisations to effortlessly integrate APIs, allowing them to check the legitimacy of their international B2B clients and leads across multiple geographical areas. This global coverage powered by Tartan ensures that organisations can complete necessary KYB assessments regardless of the region their partners operate from.


4. Seamless Verification of Legal Status, Addresses, Employees, and Directors


e Tartan's Global KYB provides organisations with complete insights into these important areas, enabling them to make well-informed decisions and reduce the risks associated with fraudulent actions.


5. Real-time AML Screening for Business Entities


Tartan's Global KYB offers real-time Anti-Money Laundering (AML) screening for businesses, which improves the security and integrity of B2B transactions. This tool enables firms to proactively detect and avoid possible financial crime risks, hence strengthening their risk management and compliance efforts, while seamlessly verifying over 300 million business entities worldwide.


To summarise, Tartan's global KYB distinguishes itself through its no-code dashboard, low-code APIs, global reach, seamless verification capabilities, and real-time AML screening, providing organizations with a complete and swift solution for authenticating their global B2B clients and leads.


Explore our website for a holistic business support API suite, or directly get in contact with our experts for a demo.

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©2024 TartanHQ Inc.

Empowering businesses with API-enabled solutions to build next-generation products.

Subscribe to get an update :

©2024 TartanHQ Inc.

Empowering businesses with API-enabled solutions to build next-generation products.

Subscribe to get an update :

©2024 TartanHQ Inc.