Idenfy, a Regtech company specializing in identity verification and fraud prevention, has announced the launch of a new AI-generated company reporting tool.
Currently integrated into the Compliance Dashboard, this feature aims to simplify the knowledge of business (KYB) checks for financial institutions and other regulatory companies.
New releases address the growing need for a faster, more accurate business verification process. Traditional verification workflows have become time-consuming and resource-rich, especially with fraud increasing across the Fintech, Cryptography and B2B service sectors. Data from the Association of Certified Fraud Examiners (ACFE) suggests that businesses lose roughly 5% of their fraud revenue each year, highlighting the urgency of better tools.
Founded in Lithuania, Idenfy is known for its wide range of compliance technologies, ranging from biometric identity verification to AML screening and continuous surveillance. The solution is designed to help businesses meet regulatory requirements while minimizing risk and improving operational efficiency.
New AI-generated KYB reports eliminate the need for long manual document reviews. Users can access tools within the Business Verification section of Idenfy's dashboard to select their company and instantly generate a clear, single-page overview of key company data.
The report covers important details such as registration number, tax ID, legal form, date of establishment, company address, industry classification, and number of employees. It also provides deeper insights including ownership structure, shareholder data, directors and affiliated entities. Information is verified in real time using trusted public and proprietary databases, providing faster and more detailed processes than traditional credit bureaus and government reports.
Beyond static information, the platform introduces AI-driven risk insights. The system automatically highlights inconsistencies and gaps, suggesting next steps, such as reaffirming ownership, investigating potential shell companies, and strengthening due diligence. These automated alerts are designed to allow compliance teams to focus on decision making rather than collecting manual data.
Idenfy CMO Viktor Vostrikov said: “Manual business validation has been a major obstacle to compliance workflows. AI-powered reports provide faster, smarter ways to review businesses, reduce onboarding times and precede regulatory demands.”
Idenfy CEO Domantas Ciulde added: “The tool was designed to not only display important information, but also provide a clear next step for the risk team. It's not just about collecting data, it's about understanding what that data means, where the risk lies, and what actions to take.
AI-powered business verification capabilities are now available to all Idenfy clients as part of the compliance suite, enhancing their role as a trusted partner for end-to-end Regtech solutions.
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