I run a fintech that facilitates cross-border payments for US based businesses.
Previously we were using a 'banking as a service' provider that had business ID verification as part of the bundle.
Now we have a bank that allows us to process payments, but we're not provided with services for ID verifying businesses and beneficial owners. Having been through an audit, I know that's something we absolutely need to have in place before we consider onboarding new businesses.
Some vendors I'm investigating:
withpersona.com - seems focused on KYC (retail customers) not businesses - seems like a weak fit
LexisNexus "instantID-Business" https://risk.lexisnexis.com/products/instantid-business - seems appropriate, wondering if they have an ancient tech stack
id.trulioo.com - seems appropriate, wondering if they have massive fixed fees every month vs. pay-by-the-drink (we might onboard a dozen businesses a month, we don't need a plan with four or five figure monthly charges)
alloy.com - every bank uses these guys, which I like. Again, concerned about pricing.
socure.com - I think Alloy resells them anyway.
If anyone can share recommendations, experiences, it would be greatly appreciated!
