Niva provides an AI-driven platform for automating Know Your Business (KYB) processes, enabling rapid and secure verification of business identities through real-time data validation and document analysis. By reducing application processing times to under 10 minutes, Niva enhances compliance and minimizes fraud risk, facilitating smoother onboarding for businesses globally.
Funding
$3.3M 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
Traditional Know Your Business (KYB) processes are often slow and manual, leading to extended onboarding times and increased operational costs. Inefficient verification methods can result in lost revenue due to application abandonment and create opportunities for fraudulent activities.
Solution
Niva offers an AI-powered platform designed to automate and accelerate business identity verification, streamlining the KYB process. The platform uses real-time data validation and advanced document analysis to provide a comprehensive 360-degree view of each business. By instantly pre-filling applications, validating customer inputs, and accurately reviewing complex documents, Niva reduces application processing times to under 10 minutes. This allows businesses to onboard customers faster, improve compliance, and minimize fraud risk through sophisticated pattern identification and due diligence checks.
Target Audience
Niva primarily targets businesses in regulated industries, financial institutions, and other organizations that require efficient and secure KYB processes for onboarding new customers and maintaining compliance.
Features
- Instant application pre-fill using public and private data sources
- Real-time validation of customer inputs to ensure accuracy and completeness
- AI-powered document review with 95%+ accuracy for complex documents like power of attorney and shareholder agreements
- Automated due diligence checks using government, public, and private sources to verify business legitimacy
- Comprehensive risk assessment covering document tampering, high-risk activities, and adverse media
- Customizable APIs that integrate into existing onboarding workflows
- SOC-2 Type 2 compliant security infrastructure with robust data protection measures
- Country-specific features available in the US and Mexico, with expansion to Brazil and Colombia planned