Sole Proprietorship Verification Service for KYB workflow
Effortlessly onboard individuals, businesses, and sole proprietors with a seamless all-in-one solution for legal entities and sole traders.
Trusted by industry experts and global leaders
Unified sole trader and entity onboarding
Easily onboard both sole traders and business entities through a unified, automated process. Tailor the workflow to accommodate the specific needs of each, ensuring a smooth and efficient onboarding experience for all.
Custom KYB rules for sole traders
Implement rules that streamline the onboarding of both sole traders and legal entities, ensuring a smooth, consistent process.
- Sanctions check for global sanctions lists.
- PEP check to identify politically exposed persons.
- Adverse media check for negative coverage.
- Identity verification using official documents
- Risk assessment based on KYC and KYB guidelines.
Advanced risk and compliance tools
Leverage powerful compliance tools designed to mitigate risk for both sole traders and business entities.
- Block entities with legal or reputational issues.
- Detect fraudulent or proxy IP addresses.
- Review official reports for compliance.
- Apply additional risk controls as needed.
What are the sole traders? What’s the difference between sole proprietors and legal entities?
A sole trader, or sole proprietor, is an individual who owns and operates a business and is personally liable for its debts and profits. Unlike a corporation, a sole proprietorship does not separate personal liability from the business, meaning the owner’s assets are at risk for business obligations.
Is the onboarding process fully automated for sole proprietorships?
Can a sole trader be included in AML screening?
Outperforming competitors. Discover G2 ratings
See how we rank with competitors in key areas, backed by top ratings
and user reviews on G2.
| iDenfy | Jumio | Onfido | SumSub | Veriff | |
|---|---|---|---|---|---|
| Product Direction | 10.0 | 9.0 | 8.9 | 9.4 | 8.8 |
| Quality of Support | 9.8 | 9.0 | 8.5 | 8.9 | 8.3 |
| Ease of Use | 9.7 | 9.0 | 9.0 | 8.8 | 8.3 |
| NPS | 9.7 | 8.7 | 8.8 | 9.2 | 8.9 |
* According to G2 2024 Identity Verification Summer report.
iDenfy’s verification solution has significantly increased the accuracy and reliability of our onboarding process, ensuring both patients’ and doctors’ identities are accurately confirmed.
Roman Taranov
CEO of Able
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