20 Best KYC Providers in 2024 (part1)
As the demand for integrating KYC solutions continues to grow, numerous providers offer innovative services tailored to the unique needs of businesses across industries. Here are the top 20 industry-leading KYC solution providers in 2024:
1. Trulioo
Trulioo is an international company that provides electronic identity verification (eIDV) and KYC solutions. Founded in 2011, It aims to help organisations verify their customers’ identities and comply with regulatory requirements.
Trulioo’s platform offers various identity verification services, including document and biometric verification and data intelligence. By using advanced technology and data sources from around the world, Trulioo enables businesses to verify individuals’ identities in real time.
The company serves various industries, including finance, e-commerce, healthcare, and gaming, helping businesses onboard customers securely. Trulioo has gained recognition for its innovative approach to ID verification software and has received several accolades for its services.
2. Shufti Pro
Shufti Pro is a company that specialises in identity verification and authentication solutions using AI and machine learning technologies. It offers various services, including KYC verification, AML screening, and fraud prevention. Their services are commonly used by businesses in finance, e-commerce, and fintech industries.
The company aims to provide seamless and secure identity verification solutions while minimising end-user friction. Their technology is designed to detect forged or tampered documents and prevent identity theft.
3. iDenfy
Similar to other identity verification companies, iDenfy offers services such as KYC procedures, AML screening, and fraud prevention. The company’s solutions typically involve document verification, facial recognition, and biometric authentication to verify the identity of individuals in real time. iDenfy’s technology is designed to be fast, accurate, and user-friendly, helping businesses onboard customers securely and comply with regulatory requirements.
iDenfy serves various industries, including finance, e-commerce, gaming, and telecommunications.
4. ComplyCube
ComplyCube presents a robust identity verification platform tailored to simplify businesses’ AML and KYC compliance procedures. Through its suite of features, enterprises can authenticate customer identities seamlessly using ID documents, biometrics, and government databases.
This software-as-a-service (SaaS) solution merges trusted data sources with expert human oversight to assist businesses in attaining global AML/CTF compliance.
With ComplyCube’s outreach capabilities, businesses can conduct thorough checks on individual clients within a single KYC session, streamlining the process. The platform intelligently determines the requisite data to collect and dispatches a secure, personalised link to clients, facilitating the completion of the KYC session.
Available checks encompass AML Screening, PEP Checks, Address Verification, Identity Document Proofing, and comprehensive identity verification measures. With a 98% client onboarding success rate and global coverage spanning 220+ countries, these features position ComplyCube as an indispensable tool for businesses seeking reliable and efficient AML and KYC providers.
5. KYC-Chain
KYC-Chain is a company that provides blockchain-based identity verification and compliance solutions, primarily focusing on Know Your Customer processes.
Founded in 2015, KYC-Chain offers a platform which utilises blockchain technology to securely store and verify customer identity data, reducing the risk of data breaches and identity theft. KYC-Chain’s solutions include identity verification, document authentication, risk assessment, and ongoing customer data monitoring.
It serves a variety of industries, including finance, fintech, cryptocurrency, and e-commerce, helping organisations of all sizes implement efficient and compliant KYC processes.
The company aims to use the benefits of blockchain technology to revolutionise identity verification and compliance processes in the digital age.
6. Unit21
Founded in 2018, Unit21 offers a comprehensive solution that uses artificial intelligence and machine learning technologies to help businesses combat various types of fraud, including payment fraud, account takeover, identity theft, and money laundering.
The platform provided by Unit21 enables businesses to monitor and analyse user behaviour and transaction data in real-time, detecting suspicious activities and fraudulent behaviour. Unit21 helps businesses identify patterns and anomalies indicative of fraudulent activities.
Unit21 serves various industries, including banking, fintech, e-commerce, cryptocurrency, and online marketplaces.
7. Fractal ID
Fractal ID, a KYC/AML provider developed by the German fintech company Fractal, boasts an impressive conversion rate of 40%, surpassing industry standards. This platform offers swift and precise global verification, employing OCR and facial recognition technologies to validate passports and national IDs efficiently. Moreover, Fractal ID adheres to KYC/AML regulatory requirements at the banking level and ensures compliance with GDPR regulations.
Fractal ID supports multiple levels of verification, each customisable with various add-ons. These levels of verification directly impact the user’s data-sharing requirements and subsequently influence their interaction with the Fractal ID platform.
