-- iDenfy, a global verification, compliance and fraud prevention service hub, has announced a new addition to its Know Your Business (KYB), or Business Verification platform. The update introduces a new Dynamic Workflow feature that allows partners to create scored questionnaires that automatically direct business applicants to the correct KYB verification flow based on their individual answers. This removes the need for compliance teams to manually assign workflows on a case-by-case basis, as the routing decision is made by the system automatically.
The challenge for compliance teams has always been to evaluate every user separately, because every single business carries a different level of risk. Therefore, applying the same verification flow to every case, it wastes time and creates unnecessary friction for lower-risk applicants. A fintech onboarding for an iGaming company has different due diligence requirements than a crypto platform onboarding a holding company with foreign Ultimate Beneficial Owners (UBOs) who are operating in a high-risk jurisdiction. Previously, to direct applicants to the right workflow, a compliance officer was required to assess each case manually. The new iDenfy’s fully automated, customizable Business Verification workflow creation feature replaces that manual step entirely, because the logical process is built directly into the questionnaire and triggers users' choices automatically.
“Compliance teams should be spending their time on decisions that actually require human review, not on manually sorting low-risk applications. Our Dynamic KYB Workflow feature handles that routing automatically, so partners can scale their KYB operations without any inconsistency in how cases are assigned,” explained Domantas Ciulde, the CEO of iDenfy.
The feature is built to let teams define questions, assign score ranges to each answer, and configure instant triggers that activate specific KYB workflows when a score threshold is reached. This helps create custom verification processes, even in more complex cases, where custom documentation is required, such as proof of funds or extra Know Your Customer (KYC) verification on certain individuals from the entity that’s being onboarded. A business applicant who has to answer questions about its ownership structure, operating jurisdiction, industry, etc., will receive a score based on those responses, and the system will immediately direct them to the appropriate verification flow without any manual input
iDenfy’s current Business Verification users now have direct access to the custom Dynamic Workflow builder with full control to manage, edit, copy, and delete flows directly from the dashboard, which is an even more straightforward option to update verification information as regulatory requirements or internal risk evolve every year. According to iDenfy, this helps analysts who work with the software save hours of manual work weekly. For example, compliance teams can only act on a client if a specific threshold is reached, or when a mismatch after the initial onboarding stage is detected by the system. In addition, iDenfy’s KYB interface redesigned the “Country select” functionality with country grouping and weighting logic. This gives compliance teams the ability to configure specific scoring and trigger rules based on an applicant’s country of operation.
It is particularly relevant for organizations that apply different risk thresholds to different jurisdictions as part of their fraud prevention protocols. The new solution now defines which file types are permitted when applicants submit documentation, in this way reducing the volume of low-quality or incompatible uploads that slow down the system and are unnecessary. Furthermore, now you can see a “decline session” action button that automatically rejects applicants based on specific responses they select during the questionnaire. This removes the need for a manual review in cases where the outcome is already determined by the applicant’s answers, allowing compliance teams to move faster with unnecessary onboarding attempts that fall outside the organization’s defined risk parameters.
In general, iDenfy's KYB platform connects to over 180+ company registries across more than 120 countries to provide access to real-time data and cover the full verification process in a single integrated flow. This enables direct access to more data, building the full picture about a company, rather than asking the company to submit extra documentation, which, according to iDenfy, often results in incomplete KYB forms and drop-offs.
Know Your Business, or KYB, is the process that regulated companies use to verify the legitimacy of other businesses before entering into a working relationship with them. It goes beyond the standard KYC checks because to verify a company, it means that it's necessary to confirm its legal registration, ownership structure, UBOs, and compliance with Anti-Money Laundering (AML) regulations, all while cross-referencing submitted documents against government registry data, screening key individuals against sanctions lists, Politically Exposed Persons (PEPs) databases, and adverse media sources.
“We built this feature because partners told us they needed a smarter way to onboard different types of businesses without creating separate manual processes for each risk tier. The scored questionnaire puts that logic directly into the platform, and the result is a faster and more consistent onboarding experience for both the partner and the business that is being verified," added Adomas Vitkauskas, the CPO of iDenfy.
Contact Info:
Name: Aurimas Kybartas
Email: Send Email
Organization: iDenfy
Address: Barsausko g. 59
Phone: +37067644539
Website: https://www.idenfy.com/
Video URL: https://www.youtube.com/watch?v=je1oqkbj7Uo
Release ID: 89193175
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