Silt provides an identity verification platform that automates KYC and KYB processes, enabling businesses to onboard users in under five seconds while significantly reducing operational costs. By minimizing the need for document uploads and enhancing fraud detection, Silt helps companies increase customer acquisition and streamline compliance with regulatory requirements.
Funding
$850K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses face challenges in efficiently and securely verifying the identities of new users and companies during onboarding. Traditional Know Your Customer (KYC) and Know Your Business (KYB) processes often involve manual document uploads, leading to friction, delays, and increased operational costs. This can result in lower customer acquisition rates and potential compliance issues.
Solution
Silt offers an AI-powered identity verification platform that automates KYC and KYB procedures, enabling businesses to onboard customers rapidly. The platform minimizes the need for manual document uploads by leveraging AI to extract and verify information from various sources. By streamlining the onboarding process, Silt helps businesses improve customer acquisition, reduce operational expenses, and enhance fraud detection. The platform's user-friendly interface ensures a fast and efficient verification experience, allowing users to access services quickly.
Target Audience
Silt primarily targets businesses in fintech, crypto, neobanks, mobility, marketplaces, online gambling, and companies with massive hiring needs that require efficient and compliant user onboarding.
Features
- AI-driven identity verification in under 5 seconds
- Automated data extraction and verification from identity documents
- KYB solution with UBO discovery and verification
- AML and PEP screening
- Misconduct list checks
- Customizable rule engine for tailored risk assessment
- Complex document processing capabilities
- Phone verification