Which KYC System should I choose?
KYC stands for “know your customer” and involves understanding who your customers are to prevent potential fraud, such as money laundering. KYC is significant in sectors like banking, where knowing customers' identities is crucial when conducting business or transactions. Understanding the customer involves assessing risks and gathering as much relevant information as possible about a customer. To achieve good knowledge and assistance with everything that the KYC concept entails, you can utilize a KYC system. In this context, AML systems, which stand for anti-money laundering, are often mentioned, as they are specifically focused on money laundering. These systems can often be integrated with your other systems and help you keep track of regulations. BusinessWith lists the KYC systems available in the UK market today, so you can find the best system for your needs. All for better compliance control. Use our comparison guide today to find the right KYC system for your business.
Why customer knowledge (KYC)?
In the UK, several businesses and sectors, such as banks, gaming companies, or insurance firms, are required to comply with anti-money laundering laws and thus strive for customer knowledge. This involves ensuring that you know the customer's identity by establishing a flow of controls and understanding what characterizes deviations. This is to ensure that no financial fraud or money laundering is taking place. To achieve this, having a KYC system at your disposal can be beneficial. BusinessWith has compiled the KYC systems available in the UK market – which can help you achieve the highest possible level of customer knowledge. Feel free to use our comparison service to search, compare, and then find the best KYC system for your company or organization.
Quick guide
Categories related to KYC Software
Document Management SoftwareCompliance Management SoftwareContract Management SoftwareE-Signature SoftwareKYC SoftwareList of 16 KYC Software
A SaaS financial crime risk intelligence platform combining screening, ongoing monitoring, transaction monitoring and API-first integrations to reduce false positives and automate remediation.
A SaaS platform and API delivering global identity verification, sanctions/PEP/watchlist screening, adverse media, continuous monitoring and developer-friendly SDKs for fast integration and regulatory compliance.
Experian offers credit reporting, score monitoring, Experian Boost and identity protection tools to help consumers and businesses verify identity, monitor credit and improve financial profiles.
GBG provides identity verification, document and biometric authentication, risk intelligence and fraud protection via a global identity platform and APIs for fast, compliant onboarding.
A next-gen identity verification suite offering document recognition, face biometrics, AML/PEP screening, PoA checks and flexible integrations (SDKs, API, webhooks).
A global risk intelligence platform offering identity verification, AML/PEP/sanctions screening, fraud detection and risk orchestration via data, analytics and APIs.
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Maxsight™ automates KYC/KYB and AML workflows, integrates global data checks and provides continuous monitoring, case management and analytics to reduce risk and streamline compliance.
A modular compliance OS delivering identity verification, business onboarding (KYB), AML/PEP/sanctions screening, transaction monitoring integrations, SDKs and APIs to automate onboarding and ongoing monitoring globally.
Shufti delivers multi-layered ID, biometric and risk screening services with global coverage (240+ countries), liveness detection, device intelligence and watchlist screening to stop fraud and ensure compliance.
SmartSearch is an all-in-one AML and KYC platform offering identity verification, PEP/sanctions screening, document verification, facial recognition, ongoing monitoring and enhanced due diligence.
A global identity verification platform offering person and business verification, document & data checks, fraud intelligence and modular APIs to meet KYC/KYB/AML requirements.
An easy-to-use pay-per-check identity document validation platform (IDVT) with face biometrics, expert analyst review, APIs and support for Right to Work, Right to Rent and KYC compliance.
A reusable Digital ID and verification platform offering automated document checks, facial age estimation, liveness, fraud databases, human review and APIs/SDKs for integration.
Dun & Bradstreet provides compliance and risk management solutions, including AML, KYC, and third-party risk tools.
A multi-layered identity platform offering KYC/KYB, AML screening, transaction screening, liveness detection and AI-powered risk scoring to prevent fraud and meet compliance worldwide.
Sumsub provides an all-in-one verification platform: user and business ID checks, AML/sanctions screening, device intelligence and transaction monitoring with adaptive AI and integrations.
What is AML (anti-money laundering)?
To combat various types of money laundering, different AML systems, such as KYC systems (know your customer) are used. This is to detect and prevent money laundering. A crucial part of this is having good customer knowledge to identify risks early and make decisions and direct efforts to counteract money laundering. AML, anti-money laundering, has become increasingly prominent on the agenda for both countries and banks in recent years, not least in the UK. Combating money laundering and also financing of terrorism is a significant problem in society – sources suggest that up to two trillion dollars are laundered globally each year. Financial systems must be healthy for people to earn their money. This involves extensive work with anti-money laundering. Are you curious about which KYC systems are available today? BusinessWith offers a comparison guide, where you can easily search and compare different systems that promote good customer knowledge – know your customer. Start reading, filtering, and comparing with us today.
Description of product features
API
Automatic notifications
Background checks
ID verification
Onboarding
PEP screening
Real-time updates
Risk assessments
Watch list
