Youverify Joins The NayaOne Marketplace

Youverify Joins The NayaOne Marketplace
Picture of Amrit Satpathy

Amrit Satpathy

Ecosystem Manager

Youverify joins the NayaOne Tech Marketplace. It addresses challenges related to identity verification and fraud prevention for banks and financial institutions by offering full-scale compliance solutions.
One of the primary compliance challenges in the financial industry is meeting stringent KYC and AML requirements. Banks and financial institutions must verify the identity of their customers, monitor transactions for suspicious activities, and report any potential money laundering or terrorist financing. Certain documents are required to carry out this process. Youverify offers advanced identity verification solutions that leverage artificial intelligence and machine learning algorithms to accurately verify the identities of customers in real-time against government-backed databases.
Youverify is now set to become even more accessible through NayaOne’s Sandbox-as-a-Service, which will make it available to a range of financial institutions. NayaOne provides access to synthetic datasets, a tech marketplace and a digital sandbox, allowing firms to discover, evaluate, and scale third-party technologies to production, as well as build proofs of concepts in 4-6 weeks.

Key Youverify solutions include:

  • Know Your Business [KYB]: These checks verify the identity and legitimacy of business entities to mitigate risks associated with fraud, money laundering, and other financial crimes. This also includes Ultimate Beneficial Owners (UBOs), checks to reveal the caliber of the people behind the business.
  • Youverify’s eIDV solution: It allows businesses to verify users’ identities against 50+ government-backed databases globally. It also incorporates key features like Optical Character Recognition (OCR), liveness detection, and facial recognition among others.
  • Full-cycle AML automation for compliance: This includes a suite of solutions, such as Know Your Customer, Know Your Transaction and AI-powered Risk Intelligence solutions.
For businesses, these solutions analyse transaction patterns, customer behaviour, and contextual data to identify potential fraud in real-time, enabling prompt intervention and minimising financial losses. Youverify’s Risk Intelligence and compliance monitoring reporting solutions automate compliance checks, provide real-time monitoring of regulatory changes, and generate audit-ready reports, streamlining the compliance process and reducing the risk of non-compliance penalties.

Customer Case Study: Validating Business Legitimacy

Youverify’s KYB service checks company registration details against official government databases in 150+ jurisdictions to validate its legitimacy. A key advantage that Youverify’s customers benefit from is that it maintains real-time syncs with authoritative registries rather than relies on stale batched data. As a result, the company provides up-to-date entity details in near real-time as opposed to 3+ months that its competitors usually take to reflect official changes.

Use cases include:

  • Merchant onboarding: Validating merchant business credentials and ownership.
  • B2B SaaS customer due diligence: Verifying corporate customers during the sales process.
  • Payment company onboarding: Checking the legitimacy of payment processors, banks and partners.
  • Marketplace vendor due diligence: Screening sellers and service providers on platforms.
Both companies have partnered to create a business partnership towards promoting KYC services in its ecosystem. That’s why Youverify is excited to partner with NayaOne, to provide financial institutions with a secure environment to test the Youverify product and build confidence in our solution before purchase. This partnership demonstrates both firms’ commitment to empowering financial institutions globally with robust, compliant technology and support bank-fintech partnerships to drive innovation in the industry.
Hakeem Akiode
Hakeem Akiode
Head of Growth & Marketing, Youverify
As Youverify has joined the NayaOne marketplace to support financial institutions, its platform simplifies KYC, and risk assessment, and supports KYC and KYB use cases. Youverify solutions now can be discovered and tested via NayaOne's Sandbox-as-a-Service. 
Oli platt
Oli Platt
Product and Marketplace Manager, NayaOne
youverify logo
Youverify provides simple compliance automation software for businesses to mitigate fraud and comply with anti-money laundering (AML) laws. The company utilises large AI models that process over 5 billion records of individuals and 400 million records of businesses to reliably help its customers mitigate fraud, and consistently and reliably determine the AML risk profile of their clients.
Youverify offers various automation services, such as transaction monitoring and regulatory reporting, as well as tools like Adverse media checks, PEP and Sanctions Screening. It also provides risk intelligence services to over 500 institutions in over ten countries.

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