Top 10 KYC Software & Tools Solutions 2023

When it comes to digital footprint analysis, SEON is an incredibly helpful tool to help you glean your customers’ true intentions.

SEON does not provide full KYC functionality – but it can save companies a lot of time and money spent on KYC by weeding out fraudulent users before they reach that crucial step.

As a result, you will not need to spend money running KYC checks on demonstrably bad actors who would be rejected anyway. In addition to helping save resources, this boosts an organization’s fraud prevention efforts.

SEON Pricing

• Starts at $599. Free version available with limited API calls.

Choose SEON If

• You are concerned about your KYC costs and want to streamline the process.

What do companies such as Revolut, Remitly, and Bitstamp have in common? They all verify identities with Onfido. The company leverages its AI models to verify 2,500 kinds of ID documents in 195 countries.

With Onfido, you’ll get liveness verification, biometrics analysis, and, of course, an AI system that will automatically accept or reject applications – with the added bonus of manual review for cases that fall within a grey area. Last but not least, Onfido is suitable for both KYC and AML checks thanks to its PEP screening and transaction monitoring features.

Onfido Pricing

• Available after a sales demo.

Choose Onfido If

• You want to go above and beyond with the accuracy of your KYC and don’t mind friction.

Trulioo (pronounced truly-you) offers ID document verification by scanning its huge list of five billion identities in 195 countries. The company provides access to 11,800 types of documents, from driving licenses to residency permits. It’s ideal to meet KYC requirements and to check AML watchlists.

All of Trulioo‘s products, which also include business verification, are available via API integration. You can try the solution for free, then move up to the Growth plan (for KYC and AML checks only). The Enterprise plan includes business verification too.

Trulioo Pricing

• No pricing is available online, but you have three options: a free trial, the Growth plan, or Enterprise (which includes business verification).

Choose Trulioo If

• You have customers all around the world, and you need to verify their identity.

KYC-Chain lets you verify identities, run Know Your Customer and AML checks and, perhaps more innovatively, leverage blockchain KYC. The latter is offered via its sister company, SelfKey, which allows users to store their KYC details on-chain. The company prides itself on its bank-grade compliance toolkit, which can scan more than 10,000 data sources in 240 counties with a response time of 30 seconds.

At the time of writing, KYC-Chain claims to have helped more than half a million customers create accounts in various industries, such as telecoms, trading, and fund management.

KYC-Chain Pricing

• No pricing information is available online.

Choose KYC-Chain If

• You want to demonstrate to the crypto community just how invested you are in it.

What do you do if you’re the victim of an online scam? Complain to the police? Boost your online security?

For Darrin Edelman, the answer was to build a better KYC tool. This was exactly how Token of Trust was born in 2015. The Minnesota-based company now offers electronic ID verification as well as document scanning and age verification. The latter is particularly useful for companies in the adult or iGaming industry.

Token of Trust Pricing

• Unavailable online.

Choose Token of Trust If

• You’re in an industry that requires age verification and also want to conduct identity document verification (IDV) and biometric authentication. The company’s unique PACT Act compliance feature is also targeted to companies in the tobacco industry.

ComplyAdvantage is another solution whose goal is to make compliance less painful. It offers customer screening and monitoring for KYC, but also transaction screening and media checks, making an ideal solution for all your AML needs.

All the integration is done via APIs, and one of its key advantages is that you can try a free version if you’re a fintech startup or scale-up. For the sake of transparency, we should point out that Charles Delingpole, one of ComplyAdvantage’s founders, is a SEON investor.

ComplyAdvantage Pricing

• Pricing is available upon request. The ComplyLaunch program gives fintech startups and scale-ups free access to some of ComplyAdvantage’s tools.

Choose ComplyAdvantage If

• You are eligible for its free services for startups and want to leverage APIs for AML and KYC.

If you need video ID verification and facial biometrics, Ondato should be on your radar. The Lithuanian company hopes that its KYC software is so frictionless that it will be close to enjoyable for your customers.

It certainly seems to have its fans, as companies such as General Financing, Swedbank, and NFT Venture rely on its technology for both KYC and AML.

Ondato Pricing

• The lowest price is a $569 license per month, to which you must add $0.85 per verification. It is a sliding scale, though, and prices vary depending on whether you need to verify IDs only, or also check PEP lists, for instance.

Choose Ondato If

• A full suite of KYC tools is what you require.

Actico, which offers full digital transformation and decision automation products for some of the world’s leading financial institutions, also offers a complete compliance suite. It is designed specifically for AML, KYC, sanction list and PEP screening, and transaction screening. It also provides trade surveillance and even plays nicely with the renowned Avaloq Core banking system.

Companies currently relying on Actico include Santander, Volkswagen Financial Services, and ING, among others, and there is a definite focus on traditional banking rather than, say, neobanks or challenger banks. 

Actico Pricing:

• Not available online.

Choose Actico If

• You are a traditional financial institution needing KYC and AML compliance – especially if you rely on the Avaloq Core banking system.

iComply, also known as iComplyKYC, clearly states that it offers all the tools you need for identity validation. What are these tools exactly? Well, for starters, you have document verification, identity proofing, and identity verification using biometric authentication. There are also KYB tools to help your compliance even further.

If you also need anti-money laundering tools, the company has got you covered with watchlists, PEP, and adverse media checks – all available via modules that you can enable or disable depending on your current regulatory needs. 

iComply Pricing

• You have to contact the iComply team for pricing details.

Choose iComply If

• You want modular KYC, KYB, and AML tools that integrate in various ways with your business processes.