Business Onboarding Risk Assessment: Solutions and Best Practices

Fast onboarding is a competitive factor.

Customers expect fast, frictionless onboarding experiences, but financial institutions must perform proper due diligence and other risk-related checks. The latter must carefully negotiate a trade-off between convenience and due diligence, a reality they find increasingly challenging.

Datos Insights researched the business onboarding space to understand the checks that financial institutions perform to assess risk, estimate the onboarding costs, and investigate the solutions. This report is based on 23 in-depth interviews with target firms in Australia, Singapore, the United Kingdom, and the United States. Datos Insights also interviewed some leading vendors to gather information about competitor capabilities.

Clients of Datos Insights’ Retail Banking & Payments, Property & Casualty, and Fraud & AML services can download this report.

This report mentions Backbase, Bureau van Dijk, Business Information Group (BIG), Chainalysis, ComplyAdvantage, Creditsafe, Deloitte, Dun & Bradstreet, Equifax, Experian, Fenergo, G2 Web Services, GlobalVision Systems, HireRight, IDology, illion, Infinicept, Jumio, KPMG, LegitScript, LexisNexis Risk Solutions, Mastercard, Middesk, NICE Actimize, NuHarbor, Ocrolus, Onfido, Persona, Plaid, Refinitiv, Sentinel, Small Business Financial Exchange, Socure, S&P, Sterling, Sumsub, SymphonyAI, Thomson Reuters, TINCheck, TransUnion, Trulioo, Trustpilot, VirusTotal, Visa, and Web Shield.

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