Persona updates KYC-KYB platform

Identity verification company Persona has released a new generation of their unified Know-Your-Customer (KYC) and Know-Your-Business (KYB) platform, which includes technology to combat sophisticated fraud.

The platform enables advanced business impersonation detection, integrating business registration data, online presence verification and ownership analysis. It also uncovers hidden connections across businesses and associated individuals to prevent coordinated fraud attempts and account takeovers.

The U.S.-based startup says that the combined KYC-KYB platform allow for more effective fraud detection compared to single-focused products.

“Traditional fragmented approaches to business verification which focus on just one aspect of a business like its registration information or online presence have left organizations vulnerable,” says Rick Song, CEO of Persona. “By unifying critical business and individual insights into a seamless, automated framework, we provide a holistic view that connects the dots between companies and the people behind them.”

The platform upgrade comes amid a rise in business fraud, including marketplace merchant fraud and fintech application fraud, the firm says in a release. Persona works with travel activity marketplace GetYourGuide as well as fintech companies 6lock and Branch.

The company is also known for providing biometric identity verification for Doordash’s delivery fleet and LinkedIn in Singapore. Earlier this year, the San Francisco-headquartered firm announced “significant enhancements” in its AI-based face spoof detection capabilities. Persona says it has detected a 50-fold increase in deepfake attacks over the past few years.

Article Topics

digital identity  |  fraud prevention  |  identity verification  |  KYB  |  KYC  |  onboarding  |  Persona