Best KYC Solutions

June 04, 2024
Best KYC Solutions

In today’s rapidly evolving financial landscape, where regulators are becoming increasingly stringent, having a good Know Your Customer (KYC) solution software provider plays a critical role in the anti-money laundering and countering the financing of terrorism (AML/CFT) process, and we’re going to serve the best of them.

KYC software help organizations verify the identity of their customers, prevent fraud and meet regulatory requirements.

While our primary focus at AMLYZE is on providing world-class AML/CFT solutions, we recognize the indispensable value of integrating effective KYC practices. That’s why we’ve partnered with the industry’s leading KYC solution providers. In this blog post, we’d like to introduce you to our KYC solution partners and the best possible choices on the market.

Explanation of the KYC software

Know Your Customer (KYC) software is a critical technology used by organizations, particularly in the financial sector. It enables them to verify the identity of their customers and ensure compliance with regulatory requirements.

This software automates the process of collecting and analyzing customer information. Such as identification documents, addresses and financial histories, to assess the risk of engaging with potential customers.

Using advanced technologies such as artificial intelligence and machine learning, KYC software improves the accuracy and efficiency of the identity verification process. This also reduces the risk of fraud and helps organizations meet stringent regulatory standards. Implementing KYC software not only protects organizations against financial crime, but also fosters a safe and trusted environment for customer interactions.

It is important to note that KYC is more than just a regulatory requirement. It’s a cornerstone of a safe, secure and transparent financial system. By thoroughly verifying customer identities, organizations can:

  1. Prevent fraud. Detect and prevent fraudulent activity before it affects your business.
  2. Ensure compliance. Meet local and international regulatory standards to avoid hefty fines and penalties.
  3. Build trust. Foster a trusted relationship with customers by ensuring their data is handled securely.

Key functions of the KYC software

KYC software includes a number of critical features designed to streamline and enhance the customer verification process. 

Here are some of the key features that make KYC software essential for organizations seeking to meet compliance requirements and mitigate risk:

  • Identity and document verification

KYC software uses optical character recognition (OCR) technology to scan and verify government documents such as passports, driving licenses and national IDs. Some KYC solutions incorporate biometric checks, including facial recognition and fingerprint scanning, to confirm the identity of customers with high accuracy.

  • Customer Due Diligence (CDD)

This software assesses the risk level of new and existing customers by analyzing their financial background, transaction patterns and other relevant data. For high-risk customers, the KYC software performs more thorough checks, including detailed background investigations.

  • AML features 

Some KYC vendors complement corporate AML procedures by monitoring customer transactions for unusual or suspicious activity that may indicate money laundering or fraud, or by checking against global sanctions lists and PEP (politically exposed persons) databases.

KYC solutions also ensure that all customer data is stored securely, protected from unauthorized access and breaches. It can be integrated with existing business systems to create a single compliance infrastructure.

By incorporating these key features, KYC software not only simplifies the process of verifying customer identity, but also provides a robust framework for ongoing compliance and risk management. As a result, organizations can operate more securely and efficiently, protecting themselves and their customers from financial crime.

Relation with KYB solutions

When it comes to regulatory compliance, KYC play complementary but distinct roles with Know Your Business (KYB) solutions. Both are essential to mitigate risk, comply with regulations and maintain secure and trusted operations.

KYC solutions are primarily designed to verify the identity of individual customers. These solutions ensure that the person a business is dealing with is who they say they are. KYC processes involve the collection and verification of personal information. Such as name, address, date of birth and official identification documents. Advanced KYC systems may also use biometric verification, such as facial recognition or fingerprint scanning. The aim is to prevent fraud, money laundering and other financial crimes by ensuring the legitimacy of individual customers.

KYB solutions, on the other hand, are tailored to verify the identity and legitimacy of businesses and corporate entities. This involves a more complex set of checks than KYC, as it involves verifying business registration details, ownership structures and financial health. KYB processes often require the examination of documents such as business licenses, certificates of incorporation and financial statements. In addition, KYC solutions assess the risk associated with a business entity by checking for links to politically exposed persons (PEPs), sanctions lists and negative media.

The relationship between KYC and KYB solutions is symbiotic. For a comprehensive compliance strategy, organizations need to apply both KYC and KYB measures. F. e., when onboarding a new corporate customer, a company must verify the business entity (KYB) and the individuals who own or control it (KYC). 

Best KYC/KYB solutions and software

Below is a list of KYC/KYB solution providers (in random order) that we believe offer the best price and value proposition. The majority of them are on our official partner list (see full list of AMLYZE partnerships here).


Ondato is a technology company that streamlines KYC and AML-related processes using cutting-edge AI solution tools that cover the full spectrum of compliance challenges. From new client onboarding to a comprehensive database for ongoing client monitoring.

Ondato’s software accepts over 10,000 different types of document templates during the onboarding process to ensure that every client is covered, regardless of their location. The company’s rapid identity verification service, using biometric and face-matching technology, will provide an unprecedented level of accuracy in the industry.

At the same time, you can streamline your business verification processes with Ondato. They will help you create a comprehensive and efficient flow with tools such as KYB forms, ultimate beneficial ownership structure and remote business information collection.

Why choose Ondato as your KYC solution provider? It is a single platform for all jurisdictions. This means that with Ondato’s verification service, you can onboard clients from anywhere and easily adapt to jurisdiction-specific regulations.


iDenfy secures startups, financial institutions and digital services with a three-step identity verification process to prevent serious identity fraud. The company’s software performs technical checks to detect fraud and verify information accuracy during online ID verification. Comprehensive ID verification is provided by using AI and manual checks to confirm user authenticity.

iDenfy’s system automatically recognises, verifies and extracts information from over 3000 identity documents in 200 countries and territories. From passports and ID cards to driving licenses and residence permits. You can perform efficient and accurate identity document analysis on a global scale. Advanced biometric and facial recognition algorithms ensure that the faces analyzed are real. It prevents the use of facial images, 3D masks and other forgeries or renderings in the identity verification process. The company’s Know Your Business (KYB) software covers all AML requirements in a single dashboard or API integration. It allows us to instantly connect to over 180 business registries from more than 120 countries for original, real-time data.

Why choose iDenfy as your KYC solution provider? With iDenfy’s human oversight, customers are fully onboarded within an average of 5 minutes. There is no need to wait for the usual 1-2 business day review just to open a new account. And the company’s 3D facial recognition software can be combined with 2-step facial authentication to create a seamless 15-second identity verification flow for financial institutions of all sizes.

Shufti Pro

Shufti Pro helps businesses verify identities, documents and accounts, covering KYC, KYI, KYB and AML solutions. The company’s 17+ IDV solutions are trusted by more than 1000 companies worldwide. Industries range from finance and crypto to insurance and e-commerce. Shufti Pro extends document verification in 150+ languages, with the ability to validate 10,000+ IDs in 240+ countries and territories.

Using AI-focused automation and the latest technology tools, Shufti Pro secures business processes. Such as customer onboarding, account opening and digitisation through award-winning IDV services with up to 99% accuracy.

Shufti Pro’s robust document verification prevents identity spoofing and document fraud. End-users simply capture and submit an image of their ID and Shufti Pro’s intelligent, OCR-powered engine extracts all the necessary data. The company’s AI-powered document verification system then validates the ID document’s format and information in seconds.

Why choose Shufti Pro as your KYC solution provider? With Shufti Pro’s global team of identity verification specialists, KYC verification experts and KYC compliance officers stationed in every corner of the world, you can be assured that your organization has the right tools for global identity verification.


Veriff is an AI-powered identity verification platform for fraud prevention, compliance and customer protection. Company supports 48 unique languages and dialects, enabling you to enter new markets. Over 11,500 identity documents from 240+ countries and territories are covered.

95% of genuine users are successfully verified on the first attempt. With Veriff, you can increase conversion rates by up to 30% by making verification a snap with Veriff’s identity platform.

Veriff’s biometric authentication solution uses AI and facial biometrics analysis to quickly and securely authenticate users, allowing instant access to products and services. This fast and fully automated process can be integrated at any stage of the user journey, such as account access, high-risk activities or account recovery.

Why choose Veriff as your KYC solution provider? Veriff validates that the user is real and present during the authentication session, without requiring the end user to take any additional or unnatural actions.


TransactionLink is a Berlin-based no-code platform that empowers businesses to create their own unique onboarding processes and streamline AML/KYC compliance. Their intuitive drag-and-drop builder revolutionizes the way companies handle KYC data collection and verification. In other words, it makes the process more efficient and safer.

Founded in 2020 as an open banking services provider, TransactionLink now focuses on customer onboarding. TransactionLink realized that by applying its automation tools it could provide a holistic onboarding product that saves payment providers, fintechs, banks, and wealth management platforms alike a huge amount of time and money. 

Company now works with over 50 customers around the world, including Fortune 500 and global payments provider, Fiserv. It offers over 150 ready-made integrations to the most common KYB/KYC data sources across more than 100 geographies. And the platform can be fully white-labeled. It speeds up merchant activation for PSPs, reduces manual work when opening business accounts with banks and wealth management platforms, and reduces churn in onboarding.

Why choose TransactionLink as your KYC solution provider? For some established players TransactionLink were able to reduce their onboarding costs by as much as 70%. While for new entrants and scaleups, TransactionLink provided with ready-made onboarding processes as they expanded into new markets.


Onfido is a global leader in automated identity verification. The company’s advanced technology verifies user identities using a library of award-winning document and biometric verifications, trusted data sources and passive fraud signals.

Onfido helps more than 1,100 companies build trust with their customers. They are a force of 600 professionals around the world. Onfido verifies identity in 195 countries for more than 900 global companies.

The company’s AI-powered solutions are built with fairness and inclusivity at their core. They have been awarded ‘Outstanding Leader in Accessibility’ and ‘Best Innovation in Algorithmic Bias Mitigation’ by CogX.

Why choose Onfido as your KYC solution provider? Onfido uses Atlas™ AI, built on 10 years of research by a team of 200 engineers, to solve one problem: identity fraud. Its unique micro-model approach is built to reduce bias and verify 95% of customer biometrics in seconds. It  provides businesses with fair, fast and accurate AI identity verification.


ZignSec is a leading KYC, AML and identity verification platform that enables your organization to streamline, orchestrate and strengthen compliance. The company was founded in 2015 with the desire to enable safe, secure digital identity verification through industry-leading KYC. ZignSec is one of the first RegTech companies to be listed on the NASDAQ Composite.

ZignSec uses machine learning to efficiently verify users and capture documents. As your business grows, the system adapts to provide secure, hassle-free user verification. Using ZignSec’s machine learning technology streamlines user verification and enhances reputation risk management. Clear feedback ensures high initial pass rates, emphasizing your commitment to secure identity verification.

ZignSec effortlessly identifies fake IDs, fake bank statements and manipulated invoices. It does this with an advanced, adaptive fraud detection system. This system covers multiple fraud types and comprehensively analyses content and metadata.

Why choose Zignsec as your KYC solution provider? The company’s detection evaluates over 500 attributes, including those that are invisible to the human eye. Its AI solution recognises unique issuer document characteristics for tailored processing, enabling automatic issuer approval, preference for photos over scans or routing to the most proficient OCR.


Jumio is a company that protects the ecosystems of businesses through the Jumio platform. It is a unified, end-to-end identity verification and eKYC orchestration platform. It offers a range of solutions to accurately establish, maintain and reassert trust from account opening to ongoing monitoring. Customers, patients, employees or whoever your users are, the Jumio platform delivers the assurance you need to know, then trust.

Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Sunnyvale, California, Jumio operates globally. Their offices and representation is in North America, Latin America, Europe, Asia Pacific and the Middle East.

Company enables to leverage over 500 global data sources to confirm their personally identifiable information. This includes name, address, date of birth, phone, email, device, IP address, bank account status and more.

Why choose Jumio as your KYC solution provider? Jumio supports more than 5,000 ID documents across 200 countries & territories. And is an industry awards winner for innovation, growth and technology. is a financial technology company that provides a powerful payments platform. Enterprises and scaling businesses use their cloud-based platform to process payments, send payouts and manage card programmes. can offer a complex set of services, but they are well known as KYC solutions provider. Their identity verification solution enables you to verify the identity of your users. This is needed to meet compliance requirements and reduce the risk of fraud. The 24/7/365 identity verification solution authenticates a growing library of over 3,000 government-issued IDs and documents from 195 countries. is headquartered in London, with offices in New York, Paris, Dubai, Hong Kong and other locations on six continents. Customers include global brands such as Sony, SHEIN, Wise, Patreon and GE HealthCare.

Why choose as your KYC solution provider? Their identity verification solution combines automated and human verification to prevent all forms of physical and digital counterfeiting (including deep fakes), unlocking operational efficiencies and reducing costs by up to 50%.

AMLYZE approach to KYC solutions providers

AMLYZE is a Software-as-a-Service (SaaS) RegTech offering a suite of anti-financial crime solutions for all types of financial service providers. Our comprehensive modules include real-time and retrospective transaction monitoring, customer risk assessment, AML/CFT investigations, PEP, sanctions and negative media screening.

We do not provide Know Your Customer (KYC) services directly. But we understand that client onboarding and identity verification are critical components of a robust compliance framework. Assessing client risk is an important part of getting to know the client. Ensuring that these processes are handled with precision and security is critical to meeting regulatory requirements and mitigating risk.

To provide our clients with the best possible compliance solutions, we have formed strategic partnerships with leading KYC/KYB solution providers. Our team includes people with dozens of years’ experience in financial intelligence units and regulatory bodies, and these partnerships allow us to recommend trusted KYC solutions that complement our AML offerings, ensuring a comprehensive approach to compliance. Our KYC partners are known for their innovative technology, reliability and adherence to the highest standards of data security. You can find a general list of partners here. Or you can fill out the contact form and we will recommend your potential future KYC/KYB partner according to your specific needs.


What is KYC software and why is it important?

Know Your Customer (KYC) software is technology used to verify the identity of customers. This is neeeded to ensure regulatory compliance, prevent fraud and mitigate risk. It is essential for organizations, especially in the financial sector. Because it accurately confirms customer identities. That is needed to comply with laws and regulations and to maintain trust and security in their operations.

Why doesn’t AMLYZE offer KYC services?

While AMLYZE specializes in providing AML (Anti-Money Laundering) solutions, we recognise the critical role of KYC in the compliance ecosystem. Rather than offering KYC services directly, we partner with leading KYC providers who specialize in this area. This allows us to focus on our core strengths. And ensure that our customers have access to the best KYC solutions through our trusted partners.

How do your AML solutions integrate with KYC software?

Our AML solutions are designed to integrate seamlessly with our partners’ KYC software. This integration ensures a smooth and efficient compliance process. And allows organizations to manage both AML and KYC requirements through a single platform. This holistic approach increases overall security and operational efficiency.

What are the benefits of partnering with specialized KYC providers?

There are several benefits to partnering with specialized KYC providers. Firstly, you benefit from the specialized knowledge and experience of KYC providers. You will also ensure that your business meets all regulatory requirements with up-to-date and comprehensive KYC processes. It also streamlines customer onboarding and verification processes, reducing time and costs. And protect customer data with advanced security measures implemented by trusted KYC providers.

What should corporates look for in a KYC solution provider?

When selecting a KYC solution provider, companies should consider several factors. Look for providers with a strong track record and specialized expertise in identity verification and customer due diligence. Ensure that the provider keeps abreast of regulatory changes and can help your business stay compliant. Also, choose providers that use advanced technology and robust security measures to protect customer data. Finally, ensure that the KYC solution can be easily integrated with your existing systems, including AML platforms. 

About the author

AMLYZE is a fully automated service created for the financial sector and businesses that are obliged to comply with AML/CFT regulations.


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