Know Your Business (KYB) is now a core requirement for regulated industries. Banks, fintechs, payment providers, corporate marketplaces, and B2B platforms must verify the legitimacy of any business they serve — who owns it, who controls it, and whether it poses financial-crime, sanctions, or reputational risks.
KYB focuses on identifying the business entity and evaluating whether it is legitimate, trustworthy, and compliant.
Key verification steps include:
Competitor pages overlook a fundamental point: KYB is no longer just a static onboarding requirement. Regulators now expect ongoing monitoring, automated updates, and proof that institutions maintain a risk-based, continuously verified business identity program.
The rise of shell companies, cross-border fraud, and volatile supply chains means institutions must understand who they are doing business with — not just at onboarding, but throughout the relationship.
EU AML Package and AMLD6, which expand liability for onboarding failures
FATF Recommendations on UBO transparency
DORA, which requires due diligence on ICT third-party providers
FinCEN CDD Rule and updated beneficial ownership requirements
EBA guidelines on financial-crime risk management
Failing KYB exposes organisations to:
Large regulatory fines
Fraud and sanctions violations
Reputational damage
Loss of banking access or market approval
Traditional KYB relies on PDFs, emails, proprietary portals, and manual document uploads. These systems fail for three reasons:
No interoperability — each registry and platform has a different schema
No real-time updates — data becomes outdated quickly
Too much sensitive data sharing — increases risk and GDPR exposure
This has pushed regulators and industry groups toward verifiable credentials, digital wallets, and privacy-preserving verification models.
Forward-looking firms are moving from document collection to cryptographically verified business identities, where:
Corporate data comes directly from authoritative sources
UBO and company information is issued as verifiable credentials
Relying parties can verify authenticity instantly
Sensitive data is not shared, only mathematically proven
This approach reduces fraud, speeds up onboarding, and ensures regulatory alignment.
FCA’s blockchain-enabled data strategy aims to save up to £4 billion in annual compliance costs source. Implementing Partisia’s MPC framework reduces duplication in cross-bank fraud checks.
What's inside?
Competitors & why Partisia prevails
Why Partisia exceeds industry alternatives
ROI & value proposition
Next step
and more...
Decentralized identity frameworks (such as those advancing across Europe) address the structural problems in KYB:
Businesses hold their own verified credentials
Service providers verify claims without handling raw data
Updates propagate automatically when authoritative sources change
Multi-jurisdiction onboarding becomes consistent and traceable
See related pages on Decentralized Identities:
How Partisia’s decentralized identity will transform IAM, IDV & KYC providers for better security & compliance
Cross-Border KYC: A new path to secure data sharing
Perpetual KYC (pKYC) – real-time compliance for the modern financial institution
The European Business Wallet (EUBW) — part of the EU Digital Identity framework — will allow companies to store and present:
Business registration data
Licenses and permits
Authorised signatory credentials
UBO declarations
ESG and supply-chain attestations
For KYB, this means that verification workflows will be:
Faster
More secure
Fully interoperable across EU borders
Based on trusted, machine-verifiable credentials
Partisia explains this transformation in detail - How EUBW connects business identity with digital passport
Partisia provides the cryptographic backbone required for privacy-preserving KYB, enabling institutions to verify sensitive business data without seeing or storing it.
Multi-Party Computation (MPC) for verifying attributes securely
Zero-Knowledge Proofs for proving ownership and authorisation
Confidential Computing for regulated cross-border data use
Secure UBO verification without exposing underlying shareholder details
These capabilities allow KYB checks to become:
Real-time
GDPR-compliant
Audit-ready
Resistant to data breaches
This positions Partisia as a critical technology partner for the future of corporate identity verification.
“The future of KYB will not depend on collecting more data. It will rely on verifying the right data without exposing it. Privacy-preserving verification is what finally allows accuracy, compliance, and speed to coexist.”
— Mark Medum Bundgaard, Chief Product Officer, Partisia
To prepare for the new KYB era, businesses and service providers should:
Map out existing onboarding flows and identify manual pain points
Begin integrating verifiable credentials into KYB systems
Implement privacy-preserving checks for UBO and sanctions screening
Prepare for EUBW and other EU digital identity frameworks
Adopt real-time KYB monitoring rather than one-off checks
KYB is moving from paperwork to cryptographic proof — and early adopters will reduce risk while improving customer experience.
KYB is becoming a cornerstone of financial and supply-chain trust. Legacy document-based workflows cannot meet modern regulatory standards or fraud risks. Verifiable business credentials, decentralized identity, and privacy-preserving computation offer a path forward — and Partisia’s platform is at the center of that evolution.