Know Your Business (KYB) processes have evolved rapidly in recent years, driven by complex corporate structures, cross-border regulations and the growing risk of financial crime. As companies operate in increasingly digital and global environments, KYB cannot remain a static check performed at onboarding. In 2025, effective KYB is continuous, data-driven and integrated into broader risk and compliance strategies.

The limitations of traditional KYB are no longer theoretical. According to the Wolfsberg Group, financial crime compliance failures remain one of the most cited weaknesses in global enforcement actions, with poor UBO (Ultimate Beneficial Owner) verification consistently flagged as a key concern. These risks are magnified when firms rely on outdated registries, manual workflows and inconsistent data across jurisdictions.

Outdated KYB Is a Risk Multiplier

Legacy KYB processes often include:

• Static company registry checks at a single point in time

• Manual reviews of documents and shareholder structures

• Siloed data sources that do not update dynamically

• Fragmented screening for sanctions, PEPs and adverse media

The result is a compliance process that is slow, opaque and reactive. It leaves organisations vulnerable to hidden risks, from shell companies to sanctioned UBOs and changing corporate hierarchies.

In the words of Tracey McDermott, former Director of Enforcement and Financial Crime at the FCA, “You cannot supervise what you do not understand.” Without current visibility into business ownership and risk indicators, compliance teams are operating in the dark.

Continuous KYB Is the New Standard

Leading regulators and financial institutions are now calling for KYB to adopt a model of continuous verification, akin to Know Your Customer (KYC) expectations.

According to Deloitte’s 2024 financial crime report, over 70 percent of firms plan to invest in KYB automation tools by 2026, with real-time data and registry integration ranked as top priorities. This shift is not about ticking a compliance box. It is about staying ahead of dynamic risk environments and enabling scalable business growth.

Modern KYB frameworks should include:

• Live registry data from global company databases

• Ongoing UBO and director mapping with change alerts

• Integrated sanctions and PEP screening refreshed daily

• Workflow automation for onboarding and periodic reviews

• Risk-based scoring aligned with the firm’s compliance policies

How azakaw Is Helping Firms Rethink KYB

azakaw offers a digital KYB solution designed for compliance teams navigating today’s complexity. Built for global coverage, azakaw connects to live registries across 100+ jurisdictions, automating everything from entity verification to UBO tracking and risk scoring.

This means:

• Faster client onboarding, with 60 percent reduction in review time

• Greater accuracy in UBO identification and ownership tracing

• Real-time alerts on regulatory or structural changes

• Integrated sanctions, PEP and adverse media screening

• Custom workflows that reflect your risk appetite and policies

“KYB must move from a checkbox exercise to a proactive compliance strategy,” notes Michael Harris, Head of Financial Crime Compliance at LexisNexis Risk Solutions. “Data timeliness and automation are the foundation.”

KYB Without Borders: Moving Forward in 2025

In an environment shaped by instant transactions and increasing scrutiny, KYB must evolve. The future of compliance lies in agile, automated solutions that provide clear visibility into who you are doing business with — not just today, but continuously.

Whether you are onboarding fintechs, corporates, or partners across borders, now is the time to rethink your KYB approach.

Discover how azakaw can help you simplify and strengthen your KYB process. Get in touch with us!