iDenfy has rolled out a new set of artificial intelligence features for its Business Verification platform, aiming to significantly reduce the manual workload faced by compliance teams during corporate onboarding. The updates focus on automating key stages of Know Your Business (KYB) checks, allowing in-house analysts to pre-fill company data, assess risk indicators faster, and maintain clearer audit trails across complex onboarding cases.
The Delaware-based identity verification and compliance provider says the enhancements are designed to help regulated businesses meet rising compliance demands while cutting hours of repetitive work each week. The move comes as KYB requirements intensify globally across banking, fintech, crypto, payments, and marketplace sectors, driven by regulators’ growing focus on ownership transparency and anti-money laundering controls.
At the center of the update is a new AI Prefill function that automatically extracts and verifies company information from official registries and credit bureau data. The feature populates missing fields in the Company Information section during onboarding, reducing the need for compliance officers to manually search databases or cross-check registration documents.
This automation is powered by iDenfy’s access to more than 180 official registries across over 120 countries. The system compares registry data with information provided by company representatives and uploaded corporate documents, helping compliance teams quickly identify discrepancies that may require further investigation.
AI features are already available to all users of its Business Verification platform
According to iDenfy, the same logic applies to document verification, a critical legal requirement in KYB processes. Uploaded incorporation records, shareholder registers, and other corporate documents are cross-checked against authoritative sources to confirm legitimacy before a business can be approved as a partner.
The company says the new AI features are already available to all users of its Business Verification platform without requiring additional integration work. This approach reflects iDenfy’s strategy of positioning its KYB product as a fully integrated alternative to combining multiple regulatory technology providers for KYC, KYB, and AML checks.
While iDenfy initially built its reputation around Know Your Customer solutions, it reports growing adoption of its KYB platform among larger, compliance-heavy organizations. The company points to trading firms and financial services providers that have adopted the solution to automate complex B2B onboarding workflows.
One such client is FTMO, which iDenfy says has reduced compliance workload by at least 40 hours per week by using fully automated KYB processes. The reduction comes from minimizing back-and-forth communication with corporate clients and accelerating document assessment and risk review.
Beyond data pre-filling, the updated platform also enhances ownership structure analysis. Built-in KYC checks are automatically applied to related individuals, enabling compliance teams to verify beneficial owners and directors while screening for red flags such as sanctions exposure or Politically Exposed Person status.
According to iDenfy, the platform flags potential risks and then guides compliance officers on next steps, supporting more consistent decision-making across teams. This is particularly relevant for identifying companies with hidden shareholders or complex corporate structures that may pose elevated risk and require enhanced due diligence.
Domantas Ciulde, CEO of iDenfy, said the goal is to reduce fragmentation in compliance workflows by offering an end-to-end solution rather than forcing businesses to integrate multiple tools.
“We constantly improve our KYB platform and listen to what the market and the regulations dictate, trying to predict how to solve the next big challenge,” Ciulde said. “For example, our Business Verification platform now shows a complete history log with detailed dates and notes from compliance officers.”
He added that this audit trail has also been enhanced with AI support. “This was also improved with AI and the AI Assistant feature, which provides a summary for the next compliance officer who’s working on the case,” Ciulde said.
The enhanced history log allows teams to revisit previous onboarding decisions, review which documents were analyzed, and understand how risk assessments were formed. According to iDenfy, conversations and case notes can now be downloaded as PDF files and shared internally, supporting regulatory audits and internal reviews.
iDenfy also refined the KYB onboarding experience for returning clients
The company has also refined the KYB onboarding experience for returning clients. When a business reopens an existing verification link, the process now takes them directly to the Company Details page, preserving previously entered information.
This change removes repeated steps such as re-confirming privacy policies or conducting duplicate company searches. iDenfy says the result is a smoother re-verification process for business clients and less repetitive work for compliance teams, who can focus on validating changes rather than starting from scratch.
The timing of the update reflects broader trends in compliance operations. As regulators increasingly emphasize continuous monitoring rather than one-time checks, businesses are under pressure to reassess counterparties on an ongoing basis.
Criminal actors frequently exploit shell companies, opaque ownership structures, and fragmented public records to conceal illicit activity. As a result, compliance teams must continually verify whether corporate data remains accurate and whether risk profiles have changed over time.
Industry data cited by iDenfy suggests that 91% of businesses plan to adopt continuous compliance models within the next five years to reduce exposure to financial crime and regulatory penalties. Automation and AI-driven workflows are becoming central to that shift, particularly as transaction volumes and cross-border activity increase.
Adomas Vitkauskas, Chief Product Officer at iDenfy, said the latest release reflects the company’s long-term focus on simplifying compliance without sacrificing accuracy.
“Our mission has always been to make compliance simple, accurate, and fast,” Vitkauskas said. “These KYB enhancements automate manual effort and help companies onboard business clients with confidence.”
As KYB obligations expand alongside global regulatory scrutiny, vendors like iDenfy are increasingly positioning AI not as a replacement for compliance judgment, but as an efficiency layer that allows teams to focus on higher-risk cases. The latest update underscores how automation is reshaping corporate onboarding, particularly for financial institutions and digital platforms operating across multiple jurisdictions.
About iDenfy
iDenfy is an identity verification company that helps businesses comply with regulations and directives. Online ID verification service powered by artificial intelligence and human supervision care minimises fraud. iDenfy supports over 1300 different types of identity documents in 200 countries and territories.
Source: financefeeds.com
