Meet Alex—a compliance analyst onboarding a new corporate client. On the surface, the company seems legitimate, but Alex knows due diligence requires digging deeper to identify the true owners behind the business. The process can feel like chasing puzzle pieces across multiple data sources and emails. Time-consuming, frustrating—and risky if something slips through the cracks.
But with the right system, Alex’s beneficial ownership review can be simple, thorough, and fast.
Alex’s Checklist for Beneficial Ownership Reviews
Gather Ownership Data: Enter company details and automatically pull director filings, beneficial owner lists, and corporate structures from trusted sources.
Verify Beneficial Owners: Identify individuals with 25% or more ownership and cross-check them against global watchlists, sanctions databases, and adverse media reports.
Document and Report: Compile findings and generate a complete audit-ready report in one click—no spreadsheets, no manual stitching of data.
A Better Way Forward
With iComply, Alex’s review is seamless, secure, and efficient. Automated data collection and verification help him spot risks faster, store everything in one place, and stay compliant with confidence. Beneficial ownership reviews don’t have to be a headache—they can be a key part of a smarter compliance strategy.
Ready to streamline your due diligence? Let’s make it easier to do the right thing. Contact iComply today.
Meet Sarah—a busy professional trying to open an investment account, finalize her legal agreement, and file her taxes. Her to-do list is long, but verifying her identity for each service shouldn’t be the hardest part of her day.
Her first stop is her credit union. They require a face-to-face meeting, but the next available appointment is five days away. Sarah’s lawyer calls next—“We’ll need you to bring your ID in for verification.” Great. Another trip. Finally, her accountant sends a casual request: “Just email me a picture of your driver’s license.” Alarm bells go off in Sarah’s mind. Isn’t email unsecured?
By the end of the day, Sarah is frustrated and overwhelmed. Verifying her identity feels outdated, unsafe, and time-consuming.
Now imagine a different experience—one where Sarah completes everything from her phone, securely and in minutes, thanks to a platform powered by iComply.
A Seamless Verification Journey
Sarah opens her credit union’s branded verification portal—powered by iComply—on her phone. Instead of scheduling a meeting, she’s prompted to take a quick selfie and scan her driver’s license.
Within seconds, the system:
Confirms her ID’s authenticity by checking security features like watermarks and MRZ codes.
Runs a biometric facial recognition check to ensure the selfie matches her ID.
Cross-references her information against real-time government databases, ensuring compliance with KYC and AML regulations.
No back-and-forth emails. No trips to an office. No guesswork about data security. The same smooth process happens when Sarah logs into her law firm’s and accountant’s portals. iComply’s flexible platform allows each business to use the same seamless verification process—no siloed tools or manual checks.
Why This Future Matters
iComply eliminates friction for clients like Sarah and strengthens trust in every transaction. For businesses, it’s a win-win: secure onboarding that meets global regulatory standards while enhancing customer experience. Instead of patchwork solutions that create inefficiencies, iComply’s unified platform integrates everything—document verification, biometric checks, and continuous monitoring—into one turnkey system.
This isn’t just identity verification—it’s a future where customers like Sarah feel valued and safe, not inconvenienced or exposed. When compliance is this seamless, it stops being a hurdle and becomes a competitive advantage.
It’s time to leave in-person waits and unsecured emails behind. Ready to show your customers the future? Discover how iComply can empower your business today.
The U.S. Financial Crimes Enforcement Network (FinCEN) has proposed new regulations requiring businesses performing Know Your Customer (KYC) checks to collect robust geolocation data. IP addresses alone are no longer sufficient due to their vulnerability to masking and manipulation. This regulatory shift aims to enhance customer verification and strengthen defenses against financial crime.
The Regulatory Shift: Why Geolocation Matters
IP addresses, long used to infer a user’s location, can be spoofed or masked by VPNs and proxies. FinCEN’s latest regulations call for more precise geolocation data as part of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) efforts. This ensures financial institutions can confidently verify where their users are located during key transactions.
iComply’s Advanced Edge-Computing Solution
To help our clients meet these new requirements, iComply has released a significant enhancement to our edge-computing platform, integrating:
Precise Geolocation Tracking: Uses multiple data points—including GPS and Wi-Fi positioning—for an accurate, real-time user location.
Device Fingerprinting: Creates a unique device profile based on hardware and behavior to detect fraud attempts and unauthorized access.
Live Biometric Verification: Confirms that the user completing verification is physically present and matches their registered identity.
Why This Matters to Your Business
Regulatory Compliance: Stay ahead of new FinCEN requirements with secure, compliant KYC workflows.
User-Friendly Experience: Our seamless integrations keep the verification process quick and frictionless for users.
Stay Compliant and Confident
The financial compliance landscape is evolving rapidly. iComply’s latest technology ensures you can meet these stricter regulatory standards without sacrificing security or user experience.
Get in touch today to learn how iComply can future-proof your KYC and KYB processes and keep your business compliant, secure, and trusted by your customers.
James is a compliance officer at a growing asset management firm. After landing a new institutional client, his team is preparing for increased regulatory scrutiny. James knows that building a robust Anti-Money Laundering (AML) program is essential—not just to meet regulations, but to safeguard the firm’s reputation.
With AML regulations tightening and financial crimes evolving, James needs a streamlined approach to compliance. Here’s how his team gets it right.
Laying the Groundwork with Customer Due Diligence (CDD)
James’s first priority is verifying the identity of clients and assessing their risk profiles. Instead of relying on manual checks, his team adopts a digital onboarding system:
Clients upload ID documents securely, which are scanned and validated using optical character recognition (OCR).
A live selfie ensures biometric verification to prevent identity fraud.
The system cross-checks client data with global sanctions lists in real time.
By automating routine checks, James’s team handles larger client volumes without delays and identifies potential risks early.
Spotting and Reporting Suspicious Activity
One morning, James reviews an alert: a client’s transaction pattern has shifted unexpectedly. The system’s machine learning models detect anomalies that suggest potential layering of funds.
With just a few clicks, James’s team:
Documents the findings in an automated Suspicious Activity Report (SAR).
Submits the SAR directly to regulators within the required timeframe.
Automated reporting cuts hours of manual work and ensures regulatory deadlines are never missed.
Keeping Records Secure and Accessible
AML regulations require James to keep records of client verification and SARs for years. His firm’s secure cloud-based system ensures:
Records are encrypted and accessible only to authorized users.
Retention policies are enforced automatically to comply with regulations.
An audit trail is generated for transparency and easy reporting during reviews.
This system reduces the risk of human error and makes audits seamless.
A Quick-Start Guide for Every Business
AML compliance can be simplified with the right tools and strategies. Here’s a recap of key steps:
Implement Digital Onboarding: Verify customer identities quickly and securely.
Automate SAR Submissions: Ensure timely reporting with minimal manual input.
Centralize Record Keeping: Maintain secure, accessible records for audits.
Adopt a Risk-Based Approach: Focus efforts where they matter most.
Train Your Team: Equip employees with the knowledge to spot and act on red flags.
By building a strong AML program, firms like James’s don’t just meet regulatory standards—they build trust, protect their business, and contribute to the fight against financial crime.
Mark is the founder of a growing logistics company, and after months of negotiation, he’s ready to seal a major partnership with a global distributor. But first, his company needs to undergo a Know Your Business (KYB) verification—a process he assumes will be long, tedious, and full of back-and-forth document requests.
Instead, Mark is about to experience how modern KYB technology makes business verification faster, simpler, and more secure.
A New Kind of KYB Process
In the past, Mark would’ve been asked to submit business registration papers, proof of ownership, and leadership information through email. On the other side, the distributor’s compliance team would spend days cross-checking everything manually, verifying documents, and screening for red flags.
This time, Mark receives a secure link to a KYB platform. The process is refreshingly simple:
Step 1: Mark enters his company’s registration number, and the system pulls verified data from official registries in seconds.
Step 2: He completes a quick biometric verification using his smartphone to confirm that he’s the authorized representative.
Step 3: The platform automatically runs global sanctions checks and searches for adverse media mentions.
By the time Mark finishes his morning coffee, the verification is done.
Instant Verification for Ownership and Key Personnel
KYB goes beyond company registration—it verifies who owns and controls the business. The platform prompts each key executive to complete their own ID verification remotely, ensuring they are who they claim to be.
Government-issued IDs are scanned and validated.
Biometric liveness detection confirms that the individuals are physically present.
The system’s secure, blockchain-backed ledger keeps records tamper-proof and ready for audits.
Cross-Border Compliance in Real Time
Mark’s company operates internationally, which means regulatory checks across multiple jurisdictions. Thanks to automation, the KYB system:
Cross-references corporate filings from various countries.
Screens against global sanctions and politically exposed persons (PEP) lists.
Ensures that beneficial ownership is transparent and compliant with regulations.
What once took days of manual research now happens in minutes.
KYB as a Business Enabler
Instead of being a bottleneck, the KYB process becomes a point of confidence for Mark and the distributor. By verifying his company’s legitimacy quickly and securely, the deal moves forward without delays.
For growing businesses like Mark’s, digital KYB isn’t just about meeting regulations—it’s about building trust and accelerating partnerships. With tools that combine biometric verification, automated regulatory checks, and secure data management, KYB is transforming from a necessary step into a competitive advantage.
Mark signs the contract that same afternoon, knowing his company’s reputation is as solid as the deal itself.
For industries like real estate, insurance, and lending, digital KYB solutions offer more than regulatory compliance—they enhance transparency, strengthen relationships, and foster faster, safer transactions.
Emma’s buying her first home—a process that used to mean printing documents, scheduling in-person visits, and endless waiting. But instead of navigating outdated systems, Emma’s lender uses modern Know Your Customer (KYC) technology. The result? A seamless, digital experience where her identity is verified in minutes, not days.
Reimagining KYC with Digital Identity
Emma logs into her lender’s app and is guided through a quick digital ID verification process:
She uploads a photo of her government-issued ID.
The system scans and validates the details instantly using optical character recognition (OCR) to ensure accuracy.
A live selfie confirms Emma’s identity through biometric liveness detection, verifying that she’s physically present and not using a static image.
In less than two minutes, Emma’s identity is verified—no manual forms, no waiting rooms.
A Secure Foundation: Blockchain for Tamper-Proof Records
Behind the scenes, Emma’s lender uses blockchain technology to protect her data. Unlike traditional databases, which are vulnerable to tampering, blockchain creates a secure, decentralized ledger where:
Verified records can’t be altered, ensuring transparency and data integrity.
Emma’s verified identity can be reused across multiple services, reducing redundant processes.
Though Emma doesn’t interact with blockchain directly, its presence strengthens the security of her entire transaction.
The Future of KYC: Self-Sovereign Identity
Emma’s experience offers a glimpse into the future of digital identity: self-sovereign identity (SSI). In this model, Emma controls her credentials through a secure digital wallet and decides what information to share.
For example:
When renewing her driver’s license, she could share only her name, birthdate, and photo—nothing else.
When applying for a new bank account, she could authorize proof of identity without revealing unrelated personal data.
SSI enhances privacy while streamlining the verification process, putting individuals in charge of their digital identities.
Redefining Trust in Financial Transactions
Emma’s KYC journey illustrates how biometric authentication, blockchain-backed security, and decentralized identity verification are redefining trust. For businesses, adopting these innovations isn’t just about meeting regulatory requirements—it’s about delivering secure, frictionless customer experiences that build confidence and loyalty.
The future of KYC is here, and it’s making complex verifications simple, secure, and efficient.
“Chandy,” is a technology and risk expert with executive experience at Boston Consulting Group, Citi, and PwC. With over two decades in financial services, digital transformation, and enterprise risk, he advises iComply on scalable compliance infrastructure for global markets.
Thomas is a global tax and compliance expert with deep specialization in digital assets, blockchain, and tokenization. As a partner at MME Legal | Tax | Compliance, he advises iComply on regulatory strategy, cross-border compliance, and digital finance innovation.
Thomas is a renowned identity and cybersecurity expert, serving as CTO of Connection Science at MIT. With deep expertise in decentralized identity, zero trust, and secure data exchange, he advises iComply on cutting-edge technology and privacy-first compliance architecture.
Rodney is the former President of ADP Canada and international executive with over two decades of leadership in global HR and enterprise technology. He advises iComply with deep expertise in international service delivery, M&A, and scaling high-growth operations across regulated markets.
Praveen is a serial entrepreneur and technology innovator, known for leadership roles at Lucent Bell Labs, ChargePoint, and the Stanford Linear Accelerator. He advises iComply on advanced computing, scalable infrastructure, and the intersection of AI, energy, and compliance tech.
Paul is a Canadian RegTech leader and founder of Maple Peak Group, with extensive experience in financial services compliance, AML, and digital transformation. He advises iComply on regulatory alignment, operational strategy, and scaling compliance programs in complex markets.
John is a seasoned business executive with senior leadership experience at CIBC, UBS, and Accenture. With deep expertise in investment banking, private equity, and digital transformation, he advises iComply on strategic growth, partnerships, and global market expansion.
Jeff is a former CFTC official and globally recognized expert in financial regulation, fintech, and digital assets. As founder of Bandman Advisors, he brings deep insight into regulatory policy, market infrastructure, and innovation to guide iComply’s global compliance strategy.
Greg is a seasoned investment banker with over 35 years of experience, including leadership roles at BMO Capital Markets, Morgan Stanley, and Citigroup. Greg brings deep expertise in financial strategy and growth to support iComply's expansion in the RegTech sector.
Deven is the former President of S&P and a globally respected authority in risk, data, and capital markets. With decades of leadership across financial services and tech, he advises iComply on strategic growth, governance, and the future of trusted data in AML compliance.
