Marketplace Seller Onboarding with KYB
Blog post from Didit
Didit's Business Verification API streamlines the onboarding process for marketplace sellers by consolidating multiple verification tasks into a single Know Your Business (KYB) session. This service simplifies the otherwise complex verification of business sellers, who require checks on their company status, ownership, and compliance with anti-money laundering regulations, all while ensuring document authenticity. By integrating with Didit's unified /v3/ API, marketplaces can efficiently verify companies and their ultimate beneficial owners (UBOs) at a cost of $2.00 per company, with additional charges for specific features like AML checks and document verification. The system is designed to handle high volumes, maintaining speed and thoroughness by routing specific checks as needed and updating seller statuses through webhooks. This comprehensive approach mitigates the risk of onboarding fraudulent entities, thus protecting marketplaces from potential regulatory and financial repercussions.
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