iDenfy, a RegTech company specialising in identity verification and fraud prevention, has announced the launch of its new AI-generated company report tool.
The feature, now integrated into its compliance dashboard, aims to simplify Know Your Business (KYB) checks for financial institutions and other regulated firms, claims Finextra.
The new release responds to a growing need for faster and more accurate business verification processes. With fraud on the rise, particularly across FinTech, crypto, and B2B service sectors, traditional verification workflows have become too time-consuming and resource-heavy. Data from the Association of Certified Fraud Examiners (ACFE) suggests that businesses lose around 5% of revenue to fraud each year, underlining the urgency for better tools.
Founded in Lithuania, iDenfy is known for its wide suite of compliance technologies, ranging from biometric identity verification to AML screening and ongoing monitoring. Its solutions are designed to help businesses meet regulatory requirements while minimising risk and improving operational efficiency.
The new AI-generated KYB report eliminates the need for lengthy manual document reviews. Users can access the tool within the Business Verification section of iDenfy’s dashboard, selecting a company and instantly generating a clear, single-page summary of key corporate data.
Reports cover essential details including registration number, tax ID, legal form, incorporation date, company addresses, industry classification, and number of employees. They also provide deeper insights such as ownership structure, shareholder data, directors, and affiliated entities. Information is verified in real-time using trusted public and proprietary databases, making the process faster and more detailed than traditional credit bureau or government reports.
Beyond static information, the platform introduces AI-driven risk insights. The system automatically highlights inconsistencies or gaps, suggesting next steps such as re-checking ownership, investigating potential shell companies, or conducting enhanced due diligence. These automated alerts are designed to help compliance teams focus on decision-making rather than manual data gathering.
iDenfy CMO Viktor Vostrikov said, “Manual business verification has been a major obstacle in compliance workflows. With our AI-powered reports, we’re offering a faster, smarter way to review businesses, reduce onboarding time, and stay ahead of regulatory demands. Our tool helps compliance teams move from document reading to decision making in just seconds.”
iDenfy CEO Domantas Ciulde added, “We designed this tool not only to surface essential information but also to offer clear next steps for risk teams. It’s not just about gathering data; it’s about understanding what that data means, where the risks lie, and what actions to take. We’re bridging the gap between compliance and actionable intelligence.”
The AI-powered business verification feature is now available to all iDenfy clients as part of its compliance suite, strengthening its role as a trusted partner for end-to-end RegTech solutions.
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