Top 10 KYC Companies - 2019- Companies
Identitymind: Pioneers in the KYC Solutions Space

Top 10 KYC Companies - 2019

Safety, in the realm of banking and finance, is the number one priority for organizations and their customers. In today’s world of rapid digitalization and hyper-connectivity, ensuring the security of an individual’s assets, monetary or otherwise, has become quite an arduous task due to increasing threats of cybercrime. To combat such unwarranted situations, where a customer’s financials and regulatory compliance are at risk, governments and banks all over the world have adopted Know You Customer (KYC) to prevent the occurrence of fraudulent and money laundering activities. Organizations in the field of banking and finance leverage KYC technologies to gather relevant information about a customer’s identity, address, and other personal data to categorize them as low-risk individuals. This further simplifies onboarding processes and helps improve a bank’s retention capabilities. The customers, too, are benefited via KYC practices: banks understand their needs more comprehensively and offer more customized services that, conversely, improve the overall banking experience for all parties involved. Moreover, with an efficient KYC system in place, financial institutions can bolster their e-commerce and m-commerce services with more refined, optimized methods of conducting transactions, loan requests and sanctions, and improved security.

However, while incorporating KYC technologies into a bank’s workflows promises an array of desirable outcomes, the process of implementation proves to be complicated. In a world of continuous research and development of software-based solutions for the domain of finance, the availability of actionable information among the multitudes of customer data in existing databases is challenging. Additionally, with the integration of AI, IoT, NLP, and big data analytics, organizations are unable to stay updated consistently while focusing on executing their core business operations.

Another disruptive technology that is increasingly becoming popular in the KYC realm is the use of blockchain technology. Once associated only with Bitcoin, blockchain may prove to be a positive disruptor with the potential to redefine and reimagine the KYC/AML. It is enabling financial institutions to keep up with changing regulations, quickly validate customer information for KYC, drill down to the ultimate beneficiary owner, eliminate duplicate processes and provide a more seamless customer experience for on-boarding.

At this juncture, KYC technology providers have emerged to deliver cutting-edge banking solutions to assist financial institutions actively combat cybercrime, prevent money laundering and fraud, protect customers, and help improve compliance. These companies, driven by seasoned professionals in the field, seek to strengthen banking organizations by extending intuitive, automated, and analytical services that provide a safe, holistic understanding of their potential—and existing—customers.

In today’s digital ecosystem, therefore, it has become critical for CIOs to choose proper technology and select best vendors that are at the forefront of efficiently tackling the challenges across the KYC and fintech realm. To help CIOs negotiate this now burgeoning landscape, Capital Markets CIO Outlook’s distinguished panel comprising of CEOs, CIOs, VCs, industry analysts along with its editorial board have reviewed the top cloud solution providers and shortlisted the ones spearheading the charge toward fulfilling the urgent demands of the industry. The listing offers a look at how these solutions are put to use, thereby enabling business leaders to gain comprehensive knowledge as to how they can strategize growth.

In this edition of Capital Markets CIO Outlook, we present to you the “Top 10 KYC Tech Solution Providers – 2019.”

  • Top KYC Companies

  • IdentityMind is known for helping clients with their AML and fraud prevention needs across a range of solutions covering Know Your Customer (KYC), sanctions screening, anti-money laundering (AML) transaction monitoring, account takeover prevention and chargeback detection. The company assists clients to ensure regulatory compliance and protect against fraud losses with digital identities, providing the most complete picture of a customer’s risk. IndentityMind's range of solutions includes transaction monitoring, VCRA, sanctions screening, and KYC among many others. IndentityMind is a multi-national company headquartered in Palo Alto, CA

  • Accuity, a global provider of financial counterparty information and due diligence solutions, offers Bankers Almanac for Risk and Compliance portfolio that allows KYC professionals to verify the accuracy of financial counterparty KYC information and due diligence documentation, reducing the time spent on manual and repetitive tasks. Bankers Almanac provides instant access to unparalleled intelligence on global financial institutions and over 630,000 completed and time-stamped KYC documents. Since 1836, new products and services are added to Accuity’s ever-expanding portfolio of innovative KYC solutions for finance professionals

  • Beam Solutions is a regulatory technology software company based in San Francisco, CA. The company's proprietary transaction monitoring technologies incorporate advanced machine learning and new data sources. Beam Solutions’ tools are designed to help banks, credit unions, and fintech customers to make their financial system safer and maximize the value and utility of critical compliance resources. The solutions they offer include transaction monitoring, identity verification, KYC/CDD, and watchlists among many others. The company's client base includes payment platforms, community banks, cryptocurrency firms, and other fintech organizations

  • Jumio is a market-leading AI-powered trusted identity as a service provider that powers the businesses with scalable, secure and compliant identity verification, which enables them to build and sustain trust in an increasingly unsafe digital world. Jumio uses computer vision technology, machine learning, and live verification experts to verify credentials issued by over 200 countries. Based in Palo Alto, California, and funded by Centana Growth Partners and Millennium Technology Value Partners, Jumio operates globally, with offices in the US, Europe, and the Asia Pacific. Leveraging advanced technology including augmented intelligence, AI, biometrics, machine learning, certified 3D liveness detection, and human review, Jumio helps organizations meet regulatory compliance including KYC, AML, and GDPR and definitively establish the digital identity of their customers

  • A subsidiary of the BRED Banque Populaire Group, Vialink is helping companies become more innovative and digital with its automated KYC solutions. Powered by AI and deep learning, Vialink’s innovative solutions assist banks and financial institutions in automating their KYC processes through an easy to integrate API platform to reinforce the quality and monitoring of operations and have optimum control of risks. The fully automated, AI, and the deep learning-driven platform delivers quick answers to the customers and presents an analysis of the customer document (KYC process) in less than 10 seconds. The 360-degree, real-time approach of Vialink’s platform strengthens its ability to perform both KYC and Know Your Business (KYB) processes for screening individuals and companies respectively

  • Horizon Globex

    Horizon Globex

    Globex is a global blockchain securities solutions provider. The range of products provided by the company includes Tokenetics, CustodyWare, KYCWare, and AML Cop. Globex also offers other branding solutions such as hosted web portal, rapid time to market, extensive reporting, on-site KYC, 24x7 IT support, and zero issuer IT. The company specializes in Regulation D and Regulation S compliant tokenization of assets, and its anti money laundering software platform. The team at Globex aims at offering high-tech solutions to meet the clients' demand

  • International Screening Solutions

    International Screening Solutions

    International Screening Solutions, Inc. is an employment screening, risk compliance and due diligence firm. The company is known for providing a single source, worldwide screening solution that is culturally-adaptive, easy-to-use and delivered through a single web-based order-delivery interface. International Screening Solutions, Inc. offers global employment screening, enhanced due diligence, and foreign identity authentication. It is headquartered in Kennesaw, GA, and serves clients globally. The company's WorldWatchPlus®, a Software-as-a-Service “Know Your Customer” platform provides continuous compliance monitoring and enables clients to engage with only one supplier for all their screening needs

  • NICE


    NICE is a worldwide leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes to deliver better customer service, ensure compliance, combat fraud and safeguard citizens. NICE has over 6,000 employees and a presence in more than 150 countries. This New Jersey-based vendor of advanced software solutions also extends real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions for its wide customer base

  • Trulioo


    Trulioo is a Canadian company based in Vancouver, British Columbia that offers identity verification services for businesses and organizations worldwide using government and private databases. Trulioo operates a Digital Identity Network that provides instant access to hundreds of procured, vetted, and trusted data sources around the world through a single integration. Deploying stringent security and privacy standards combined with the latest innovations in AI, biometrics and cloud computing, Trulioo’s GlobalGateway solution has access to information on more than 5 billion people and 250 million companies, enabling organizations to run identity verification checks with accuracy, reliability, speed, and scale

  • Veratad Technologies

    Veratad Technologies

    Veratad Technologies, LLC is a world-class provider of online/real-time Identity Verification and Knowledge-Based Authentication Solutions. Their verification solutions are designed to verify an individual’s identity and/or age while protecting sensitive personal data and promoting a high level of consumer privacy. Veratad is trusted by companies large and small and their customers include some of the world’s most well known corporations that use their solutions to reduce the risk of fraud, comply with financial regulatory requirements, provide a safer online experience and act with a greater sense of social responsibility