UBO Verification & Business Onboarding Solution | Socure
Use Cases
Business Onboarding
Verify good businesses for onboarding, underwriting, tax registration, and credit assessment using Socure’s end-to-end Business Onboarding solution.
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Accelerate Business Onboarding in Seconds
Overview
Global business identity verification at scale
The opportunity
Verify any business in the world, in real-time, with business identity checks, and fully integrated KYC/CIP and fraud checks on Ultimate Beneficial Owners (UBOs).
Power end-to-end business and UBO verification
Business onboarding without compromise
See how Socure accelerates business onboarding with instant business entity verification, UBO identification, and sanctions screening—powered by a single API. Integrated with data providers like Middesk and Kyckr, our platform helps you approve more legitimate businesses.
HOW WE HELP
One streamlined flow to verify businesses and their beneficial owners
Say “yes” to more good businesses. Reduce manual reviews, lower false positives, and streamline compliance with Socure’s best-in-class business and consumer identity data.
Accurate business verification—globally
Verify U.S. and international entities with precision. Socure connects to top business identity data providers to validate EIN/TIN, legal status, industry classification, and more in real-time.
Related products
Identity Report – A single source of truth for business identity, ownership, and risk data.
Bankruptcy & Litigation Monitoring – Continuous tracking of legal events tied to the business or its principals.
Sanctions & Watchlist Screening – Always-on screening against global compliance lists.
Secretary of State Monitoring – Stay updated with real-time alerts on entity registration changes.
Identity Monitoring – Dynamic updates on officer roles and business status.
UCC & Tax Lien Search – Identify financial risk from liens and secured claims.
Lien Document Retrieval & Filing – Streamline underwriting with automated lien workflows.
International Business Verification – Validate entities, shareholders, and UBOs across 149+ countries.
Seamless UBO Verification
Verify UBOs without breaking the flow. Socure auto-triggers KYC checks for individuals tied to the business—enabling a frictionless, fully compliant onboarding experience.
Related products
Watchlist Screening with Monitoring – AML and sanctions compliance with real-time updates.
Verify with eCBSV – Match Name, DOB, SSN, and other PII against authoritative sources.
Email RiskScores – predict email fraud risk and verify ownership instantly.
Phone RiskScore – Assess phone ownership risk and detect SIM swap in real time.
Address RiskScore – Identify risk tied to physical addresses instantly.
One-Time Password – Confirm user possession of an email or device.
Predictive DocV – Authenticate identity documents with liveness and multi-document checks.
Simplified document collection
Request and manage required business documents in one place– without delaying onboarding. Socure enables document uploads at any step of the process to speed up verification and decisioning.
Agentic business research – automatically
RiskOS’s Business Intel Agent pulls together open-source business records by searching websites, news, social profiles, and registries to surface legitimacy and potential risk in seconds, replacing 30+ minutes of manual research per business with instant insights.
Socure Business Onboarding FAQ Answers
What is UBO verification?
UBO (Ultimate Beneficial Owner) verification is the process of identifying and confirming the individuals who ultimately own or control a business entity, regardless of the complexity or number of corporate layers between them and the company. Financial institutions must perform UBO verification to comply with anti-money laundering (AML) regulations and prevent criminals from using shell companies to conceal their activities.
UBO verification typically covers:
- Direct and indirect ownership, including parent companies
- Control through voting rights or other means
Verification involves:
- Collecting key personal details: name, date of birth, address, and government-issued ID number
- Verify information against official documents and records
- Screening individuals against OFAC and global watchlists
- Checking PEP (Politically Exposed Person) status
Failure to verify UBOs can result in regulatory penalties and criminal liability for facilitating money laundering.
How does Socure streamline UBO verification during business onboarding?
Socure automates UBO verification by sourcing ownership data from business registries and instantly running identity checks on all identified UBOs. The process is as follows:
Identify Owners: Socure’s data partners pull information from corporate filings, director and shareholder lists, as well as LLC and partnership records. The system automatically flags individuals who meet ownership thresholds.
Verify Each Owner: Every identified UBO undergoes thorough identity verification:
Details checked against consumer databases and Socure’s proprietary network
- Sanctions and watchlist screening
- Document verification, if required
This automation reduces manual work, prevents onboarding bottlenecks, and improves accuracy.
Which tools and data providers does Socure use for business verification?
Socure partners with multiple business verification providers to check company registrations, ownership structures, and financial records. Each provider specializes in different data types and geographic regions, all of which are delivered through Socure’s unified API.
Verification Partners:
Middesk: Provides business identity reports, real-time monitoring, and document retrieval, including:
- Secretary of State filings and status updates
- Bankruptcy and sanctions checks
- UCC liens and litigation data
- Underwriting data for credit decisions
Baselayer: Delivers fraud signals and risk assessments through:
- Real-time identity verification
- Bankruptcy and litigation searches
- Lien identification and filing services
- Pattern-based fraud detection
Kyckr: Enables global business verification with:
- International company registration data
- Director and UBO identification
- Coverage in 200+ countries
- Detailed profiles with ownership structures
Markaaz: Specializes in hard-to-verify businesses through:
- Alternative data for thin-file businesses
- Firmographic and diversity data
- Company hierarchy mapping
- Credit and business health scores
Which industries benefit most from UBO verification and business onboarding solutions?
- Banks and credit unions: Meet KYC and AML requirements and prevent accounts from being misused for financial crime
- Fintech lenders: Evaluate business owners’ credit and identity before approving loans
- Payment processors: Verify who controls merchant accounts to stop money laundering
- Marketplaces: Verify drivers, restaurants, and sellers before giving them platform access
- Government agencies: Verify businesses before disbursing grants, contracts, or funds to reduce the risk of fraud
- Commercial lenders: Assess business owners’ bankruptcy history and credit before issuing loans
How does real-time risk scoring improve business onboarding?
Socure’s real-time risk scoring instantly analyzes submitted business and owner data. Applications below a specified risk threshold are automatically approved, while high-risk submissions are declined. This streamlined decisioning:
- Reduces onboarding abandonment due to slow processes
- Allows more customers to be onboarded efficiently
- Keeps operational costs low while screening effectively for fraud and compliance risks
What makes Socure better than other UBO verification providers?
- Multi-source data: Aggregates intelligence from Middesk, Baselayer, Kyckr, Markaaz, and FIS, ensuring broader coverage than competitors who typically use only one provider
- Fully automated workflow: Verifies businesses, then automatically performs KYC and watchlist screening for each owner– no manual handoffs required
- Customizable approval rules: Businesses can set criteria for automated or manual decisioning, rather than relying on inflexible standard rules
- Primary government data access: Uses official records and OFAC lists instead of relying on possibly outdated third-party aggregators
Resources
Our latest digital identity and fraud insights
Reports
Liminal Link Index: Business and Entity Verification
Reports
Liminal Link Index: Know Your Customer (KYC)
Case Studies
Credit card company Yendo supports financial inclusion and redefines onboarding and fraud prevention with Socure
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