Unveiling UBO Search: Simplifying Business Owner Verification for Financial Service Providers

We're delighted to introduce the latest feature to our Business Attributes product:

UBO Search

UBO Search has been thoughtfully designed to assist FIs in accurately identifying the key controllers of a business during the verification process.

One of the difficulties in verifying business ownership is the lack of a centralized directory containing complete and up to date ownership data. Many FIs are content with depending on the business disclosing the key owners. This results in fraud, risk and compliance issues.

Recognizing this, we set out to develop a solution that would make the process significantly simpler and more efficient.

The Value of UBO Search

TrueBiz ingests hundreds of signals and sources to help us find the likely controllers of a particular business. Using the latest AI technologies, we analyze terabytes of data from around the web, together with data from the company’s website. We then programatically assess the connections of individuals to the business in question.

Our algorithms then summarize the names, titles and locations of individuals who likely have control of the entity in question, in under 30 seconds.

With UBO Search, we’re bringing together the scattered pieces of the ownership puzzle, creating a more streamlined and reliable search process.

We’ve focused specifically on ownership data for small and micro businesses. The ownership structure of these businesses are often not as multifaceted as larger organizations, but are likely harder to find.

Here’s how UBO Search can transform your verification process:

1. Accurate Verification: UBO Search ensures the accurate identification of business owners, helping to reduce the risk of errors and fraud.
2. Streamlined Onboarding: With UBO Search, the onboarding process becomes quicker and more efficient. Prefill applications with the result we return to minimize form filling. Your analysts can also reduce the need for manual checks and lengthy research to find UBOs.
3. Compliance Assurance: UBO Search ensures the person behind the application is authorized and connected to the business entity in question. It also helps to unveil other key individuals that may be necessary to verify.

What’s Next

We're excited about how this tool simplifying and improving the accuracy of the business owner verification process. Ultimately facilitating smoother, more secure business verification for millions of small businesses across the world.

Stay tuned for more updates on how to make the most of UBO Search and other new features in our lineup. Your feedback and success stories are what motivate us to keep innovating, so please do continue to share your questions and feedback.

We look forward to helping you elevate your business onboarding process with UBO Search.

Book a demo here and get started with a free data test.