Stop
B2B Ecommerce
Business Fraud
Understanding and implementing business entity's identity verification is the first essential step in safeguarding your business from fraud schemes and ensuring compliance with regulatory standards. The key is maintaining a balance between due diligence requirements and minimizing approval friction through the use of automation to save time, resources and deliver the right ROI.
Reduce risk
and stop fraud
Bad actors consistently engage in multiple fraudulent activities. Therefore, organizations must collaborate with real-time data from various government agencies and trusted sources to obtain a comprehensive overview of the current business entity's profile. Additionally, continuous monitoring is essential as what was approved yesterday may no longer be valid today and could potentially jeopardize your business. Organization should look for:
- Automating compliance
- Access to audit-proof technology
- Ongoing customer monitoring
- Enterprise-grade security
Increase conversion and revenue
Verifying more businesses faster leads to increased revenue. By implementing the appropriate solutions, businesses experience a significant 5-25% boost in onboarding conversion rates, resulting in the direct revenue contribution to the business. Key factors include:
- Onboard in seconds – not days
- Frictionless verification experience
- Win more customers
- Real-time verification
- Reduce churn
- Decrease time to value
Measurable ROI
By streamlining the process of business onboarding through automation and enhancing the approval of applications, you can effectively enhance your return on investment. Results should include:
- Increase conversion rates
- Enable prospects to place their first order faster, when their intent is high
- Save on overhead
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