How does Existence compare to KYC and KYB?

LexisNexis Risk Solutions' Existence platform provides advanced verification tools to confirm the legitimacy of businesses and individuals. By leveraging global data sources and proprietary analytics, the platform identifies discrepancies, detects potential risks, and ensures compliance with regulatory requirements.

Existence integrates seamlessly into onboarding and risk assessment workflows, enabling organizations to prevent fraud, enhance operational efficiency, and build trust with clients and partners. Its real-time verification capabilities empower businesses to make informed decisions quickly and confidently.

Sardine's KYC (Know Your Customer) and KYB (Know Your Business) module streamlines the verification processes for individuals and businesses, ensuring compliance with regulatory requirements and mitigating risks associated with financial crimes. The module automates the collection and analysis of customer data, including identity documents, business registrations, and other pertinent information. Advanced analytics and machine learning algorithms assess the authenticity of the data and identify potential red flags. The system also facilitates ongoing monitoring to detect changes in customer profiles that may indicate emerging risks. By automating these processes, the KYC and KYB module reduces the burden of manual compliance tasks, accelerates customer onboarding, and enhances the accuracy of risk assessments. This leads to improved operational efficiency and a stronger defense against financial crimes.

• 🏆 Ranked - Strong Performer by Forrester (2024)
• 🏆 Best Overall AI Company by AI Breakthrough Awards (2024)
• 🏆 Named on RegTech100 by FinTechGlobal (2024)
• 🏆 Financial Crime and Compliance50 2024 - Ranked 4 by Chartis (2024)
• 🏆 RiskTech100 2024 - Ranked 13 by Chartis (2024)

LexisNexis Risk Solutions is a global data and analytics company that provides information-based analytics, decision tools, and data management services to help organizations make informed decisions, stay compliant, reduce risk, and improve operations

Sardine offers a platform to automate risk decisioning, catch more fraud, detect money laundering, and protect customers from scams.

Sardine's platform integrates several key functionalities aimed at combating fraud and ensuring compliance:

- Fraud Detection: Utilizing behavioral analysis and machine learning, Sardine detects scams before they occur by monitoring subtle changes in user behavior across the customer lifecycle—from onboarding to transaction monitoring.
- Risk Scoring: The platform employs advanced risk-scoring models to evaluate potential threats in real-time.
- Compliance Solutions: Sardine provides services such as Know Your Customer (KYC), Know Your Business (KYB), transaction monitoring, and anti-money laundering (AML) compliance.
- Device Intelligence & Behavioral Biometrics: By incorporating device intelligence and behavioral biometrics, Sardine enhances its fraud detection capabilities beyond traditional methods.

The inception of Sardine was driven by the founders' experiences in the fintech space, particularly their recognition of the fragmented nature of fraud prevention services available to cryptocurrency and neobanking sectors. Ranjan's background in cybersecurity and machine learning, alongside the team's collective expertise, led to the development of a unified API platform designed to tackle various fraud risks comprehensively. The name "Sardine" is a nod to Suspicious Activity Reports (SARs), which are critical in reporting financial crimes.