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Why is business verification required?

What is Know Your Business (KYB) verification?​

Know Your Business (KYB) is a compliance requirement in financial regulation. It requires platforms to verify and validate a business's true identity, nature of operations, ownership structure, and ultimate beneficial owners before providing financial services.

KYB is the business-level extension of KYC (Know Your Customer) and is widely applied in cross-border payments, corporate account opening, and fund settlement.

What is the purpose of KYB?​

The core objectives of business verification are to:

  • Prevent financial risks: Effectively identify and block fraudulent companies and shell corporations to protect the funds of the platform and its users
  • Meet compliance requirements: Comply with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations in major global markets (such as the US, EU, Asia, etc)
  • Protect legitimate business interests: Ensure that every business entity on the platform is a genuine and lawful operating entity, maintaining a fair trading environment
  • Establish a foundation of trust: Enhance transparency and credibility in business transactions through real-name verification

Why must business verification be completed on the ORBSIS platform?​

As a cross-border financial services platform for businesses, ORBSIS is legally subject to the oversight and regulation of relevant financial regulatory authorities. To ensure compliant platform operations and protect the funds of every user, all business users must complete business verification (KYB) before using ORBSIS's core features. The specific reasons are as follows:

  • Regulatory mandate: ORBSIS must comply with anti-money laundering regulations in its jurisdiction. Unverified businesses will not be able to conduct fund transfers in compliance with the law.
  • Account feature unlock: Only after completing verification can your business account use the full range of features, including collections, payments, currency exchange, and withdrawals.
  • Fund security: The verification mechanism effectively prevents accounts from being compromised or used for illegal transactions, protecting your business assets.
  • Higher transaction success rate: Verified business accounts are less likely to trigger risk control blocks when handling large cross-border transfers, ensuring efficient fund flow.
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💡 Business verification is typically a one-time process and your verification information will be securely stored. If your business information changes, please update it promptly to ensure continued account availability. If you have any questions, please contact the ORBSIS customer service team for help.