Ondato provides a KYC compliance platform that integrates identity verification, AML screening, and client lifecycle management to streamline onboarding processes for businesses. By automating these procedures, Ondato reduces KYC-related operational costs by up to 90% while ensuring adherence to regulatory requirements.
Funding
$14.5M 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.
SFounders
Product
Problem
Businesses face increasing challenges in complying with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, leading to high operational costs and complex onboarding processes. Traditional KYC and AML procedures are often manual, time-consuming, and prone to errors, making it difficult for businesses to efficiently verify identities, screen for risks, and manage client lifecycles.
Solution
Ondato offers a Software-as-a-Service (SaaS) platform that streamlines KYC, Know Your Business (KYB), and AML compliance through automated identity verification, risk screening, and client lifecycle management. The platform integrates digital identity services and tools, enabling businesses to remotely onboard clients, perform due diligence, and continuously monitor for potential risks. By automating these processes, Ondato reduces operational costs, simplifies internal workflows, and ensures adherence to evolving regulatory requirements. The platform's modular design allows businesses to customize their compliance processes, set specific rules, and stay up-to-date with regulatory changes, regardless of location.
Target Audience
Ondato primarily serves businesses in regulated industries such as financial services, cryptocurrency, telecommunications, gambling, insurance, and the sharing economy, as well as legal firms and adult content platforms.
Features
- Identity verification using document verification, biometric age detection, and AI-driven checks
- Business onboarding with remote KYB compliance
- AML screening and monitoring, including PEP, sanctions, and adverse media checks
- Transaction monitoring through integrated partner solutions
- Customer Data Platform (CDP) for centralized customer data management
- Authentication solutions for streamlining returning user journeys
- Customizable rules engine for tailoring onboarding and lifecycle management processes
- Virtual Branch feature for remote client interactions