#USA #Atlanta #Fintech #Trust2Connect #KYB Platform

Trust2Connect Introduces Innovative KYB Platform

Trust2Connect (T2C), a notable player in the fintech sector, has recently launched a transformative Know Your Business (KYB) platform aimed at revolutionizing how business-to-business (B2B) due diligence is conducted. With an emphasis on automation and efficiency, this cutting-edge platform is set to significantly enhance the verification process for millions of small and private enterprises across the United States.

Founded by industry veterans Bill Phelan and Prakash Ranade, T2C's KYB solution harnesses artificial intelligence to speed up and streamline the business verification process. By integrating data from an extensive array of public and private sources, the platform provides a comprehensive 360-degree view of each business and its operational health. This powerful tool is particularly vital in a landscape where the small business economy is valued at an impressive $14 trillion.

The Need for Efficient Verification

The launch of T2C’s KYB platform responds to a pressing demand for enhanced trust and swift verification among businesses. A staggering 84% of large companies, with revenues exceeding $1 billion and more than 100 payment accounts, faced incidences of fraud in 2022, as reported in the 2023 AFP Payments Fraud and Control Survey. Manual verification processes often prove to be cumbersome and inefficient, prompting organizations to allocate considerable resources toward improving these systems.

T2C aims to tackle these challenges head-on. “The growing imperative for trust and efficient verification underscores the critical need for advanced, automated KYB solutions,” noted Bill Phelan, Co-founder and Business Leader of T2C. “Our platform offers a rigorously verified, panoramic view of a company’s financial and reputational status, thereby empowering businesses to accelerate transactions and significantly reduce operational expenditures.”

Key Features of T2C’s KYB Platform

The platform incorporates several cutting-edge features designed to enhance the user experience and ensure comprehensive business validation:

• - Comprehensive Business Scoring: A unique score ranging from 1 to 100, designed to assess business consistency and reliability.
• - Advanced Entity Resolution: Innovative technology that accurately associates and confirms business identities across a variety of data sources.
• - Rapid Response Times: Users can access KYB profiles on demand, 24/7, ensuring quick retrieval of critical information.
• - Extensive Coverage: The platform boasts unparalleled access to over 97 million business locations throughout the United States.
• - Controlling Party Identification: The tool accurately identifies individuals who have managerial authority within the business.
• - Real-Time Site Inspection: Virtual inspections are conducted using co-location technology, corroborated with various data points.

T2C's ability to seamlessly collect and unify data from diverse sources—including government records and social media platforms—affords businesses an unprecedented 360-degree overview of their potential partners. This robust framework allows for enhanced reputation intelligence, built from extensive data mining of consumer reviews and social media feedback, thereby equipping companies with the insights needed for informed decision-making.

Conclusion

With the launch of its KYB platform, Trust2Connect is paving the way for a more secure and efficient approach to B2B interactions. As companies increasingly seek reliable partners and ways to safeguard against payment fraud, T2C’s innovative solution appears poised to drive significant improvements in how businesses verify each other in the modern economy. By reducing onboarding processes and fostering trust, T2C is not just transforming due diligence; it is redefining it in a rapidly changing landscape.

For more information about Trust2Connect and their new KYB platform, please visit Trust2Connect.