This collaboration is meant to provide additional capabilities within IdentityMind's Know Your Business (KYB) solution. Thus, OpenCorporates' global database of official company data is integrated within IdentityMind's orchestration layer within its KYB solution framework. IdentityMind's KYB solution allows companies to meet regulatory requirements and to reduce risk related to the validation of the registration of the business, and the identity of their beneficial owners.
OpenCorporates provides provenance, showing the official source from which all datapoints originate. This provides a clear audit trail for compliance and KYC professionals, who are equipped with the confidence to make risk management decisions. IdentityMind's KYB solution provides strong business verification capabilities and leverages the IdentityMind platform's orchestration layer including KYC, sanctions/PEP screening, ML and case management.
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