Digital identity verification is now a multibillion-dollar market — projected to hit $30–45B by 2032. That growth is being driven by unstoppable forces: rising digital fraud, the shift to online services, and stricter global regulations. Whether it’s banking, healthcare, or e-commerce, organizations are doubling down on identity infrastructure to stay compliant and protect their users.
But while companies race to verify people, one critical gap remains:
Who's verifying the businesses?
The digital trust stack is incomplete without KYB
KYC (Know Your Customer) has become a well-funded standard across industries. But KYB (Know Your Business)? Still fragmented. Still manual. Still often overlooked. And that’s a problem — especially in sectors like fintech, lending, and marketplaces, where onboarding a business with incomplete or inaccurate data doesn’t just slow you down — it exposes you to real risk.
If the next decade is about building digital trust, it won’t be enough to verify individuals. We need scalable infrastructure to verify and monitor the businesses behind them.
Business identity is harder — and that’s exactly why it matters
Verifying a person’s identity is relatively standardized: collect a government ID, match it to a selfie, check a few databases. Done.
Verifying a business? Not so simple:
- Entity names are often inconsistent across sources
- Sole proprietors blur the line between personal and business identity
- Business registrations can be spoofed or submitted with fraudulent intent
- Key info like UCC filings and beneficial ownership is scattered or outdated
And yet, many organizations still rely on manual KYB workflows — pulling Secretary of State records, searching UCC filings, or reaching out to third-party providers to validate info. It’s time-consuming, error-prone, and leaves room for fraud to slip through.
Business identity is a growth lever — not just a compliance task
Fast, accurate KYB does more than help you check boxes. It drives results:
- Higher conversion rates with smoother onboarding
- Lower fraud losses with better verification signals
- Faster decisions when paired with auto-decisioning logic
- Scalable operations without growing risk ops headcount
If your KYC strategy is robust but your KYB process still runs on spreadsheets and screen-scraping, you’re leaving trust — and revenue — on the table.
The next phase of digital trust is business-first
Identity verification is no longer just about people. It’s about building trust into every digital interaction—and that includes the companies behind the transactions.
As the identity market continues to expand, the most resilient businesses will be the ones investing in both sides of the trust equation: the customer and the company.
Curious how your KYB stack compares?
Let's talk. We’ll help you spot friction, hidden risk, and opportunities to move faster with confidence.
