Responsibility of intermediaries: KYB obligations for fintech and platforms

Responsibility of intermediaries: what due diligence for platforms and fintech

Les financial and digital intermediaries, whether they are fintechs, banks, neobanks or B2B marketplaces, are now directly responsible for compliance KYB (Know Your Business) and KYC (Know Your Customer).

KYB is no longer just an obligation for the partner company. Intermediaries should verify, analyze, and document all information relating to the business entities with which they collaborate. Compliance with directives AMLD (Anti-Money Laundering Directive) and national laws is imperative to limit the risks of fraud, money laundering and regulatory sanctions.

Why intermediaries are at the heart of KYB

1. Protection against fraud and money laundering
   Intermediaries play a preventive role by controlling companies from the B2B onboarding stage. Without this check, they risk:
   • Fraudulent transactions
   • Accounts created by shell companies or fictional entities
   • Significant financial losses and reputational damage
2. Legal responsibility and regulatory compliance
   European regulators require intermediaries to document:
   • The legal existence of the company
   • The identity of managers and beneficial owners
   • Inter-company and subsidiary relationships
   • Financial and geopolitical risks
3. Transparency and trust for B2B partners
   A platform that strictly applies KYB strengthens its credibility and attracts serious partners. Transparency has become a strategic lever in a globalized economic environment.

Detailed obligations of intermediaries

To comply with the guidelines AML/KYC/KYB, intermediaries must:

1. Document collection and validation
   • Company statutes, Kbis extract or equivalent
   • Identity documents for managers and shareholders
   • Financial documents and proof of address
2. Verification of beneficial owners (UBO)
   • Identification of final shareholders
   • Control of cross-shareholdings or shell companies
   • Risk analysis related to high-risk or sanctioned countries
3. Ongoing monitoring and dynamic due diligence
   • Update information regularly
   • Detection of structural or ownership changes
   • Analysis of alerts related to transactions or partners
4. Reports and documentation
   • Secure archiving of documents
   • Follow-up of procedures for internal audits and regulators
   • Full onboarding and verification history

The consequences of non-compliance

Non-compliance with KYB obligations by intermediaries results in:

• Financial sanctions : fines of up to several million euros depending on the country
• Criminal liability : managers exposed in case of complicity or negligence
• Reputation loss : suspicious partners and customers
• Operational risk : undetected fraud or suspicious transactions that can disrupt business

Solutions and best practices

1. KYB automation
   • Use of software to automatically validate documents and identities
   • Cross-check with public registers and international databases
2. AI and OCR integration
   • Automatic document recognition
   • Detection of anomalies and inconsistencies in real time
3. Centralization and monitoring of data
   • Unique platforms to track all verifications
   • Simplified reporting and auditing for compliance teams
4. Training and awareness-raising
   • Internal teams trained in the latest AML/KYB regulations
   • Regulatory monitoring to anticipate changes

Conclusion

For intermediaries, the KYB is not just a regulatory requirement, it's a strategic tool. Rigorous business verification makes it possible to secure B2B onboarding, to prevent fraud, to protect reputation and to strengthen the trust of partners.

The future of KYB involves automation, centralization, and the use of smart solutions like Dataleon, which simplify business verification while ensuring full compliance with AML and KYC standards.

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