KYC software for marketplaces

• Onboarding faster than review: a funnel that converts well produces sellers faster than a person can look at them.
• Payouts are the exposure: sending money to a seller who is designated, or owned by someone who is, can breach sanctions law.
• Business sellers behind personal accounts: traders registering as individuals hide the company and the owners behind them.
• Cross-border sellers: sellers arrive from many countries while the platform's obligations follow where it is established and where it pays out.
• Fraudulent and repeat sellers: banned sellers come back under new accounts, emails and devices.
• Reputation: when a seller becomes a story, the question is what the platform knew at onboarding and what it did about it.

1. 1

   Filter sign-ups

   Email, phone, IP, velocity and bot checks stop fake and repeat seller accounts before verification is paid for.

2. 2

   Identify the seller

   Collecting and checking who the seller is: identity details for individuals, and company details, directors and beneficial owners for business sellers.

3. 3

   Screen before the first payout

   Sanctions, PEP and adverse media screening of sellers and their owners, so no money reaches a designated person.

4. 4

   Re-screen the seller base

   Checking existing sellers again when lists change, as a batch, rather than only at sign-up.

5. 5

   Keep the evidence

   A record of who was checked, when and with what result, for regulators, payment partners and the platform's own trust and safety team.

Anti-money laundering law usually does not name marketplaces as such. Sanctions law applies to everyone, though: a platform must not make funds available to a designated person, directly or through a company they own or control, and a seller payout is exactly that kind of payment.

If a marketplace collects buyers' money and passes it on to sellers itself, that activity can be a regulated payment service, which may require payment authorisation and bring anti-money laundering duties with it; many platforms use a licensed payment provider instead, which will in turn expect the platform's help with seller due diligence. In the EU, the Digital Services Act requires online marketplaces to collect and make reasonable efforts to verify information on the traders who use them, and the DAC7 rules require digital platforms to collect information on sellers and report it to tax authorities.

• Volume: a real-time API for sign-up and a batch route for re-screening a large seller base.
• Business sellers: company lookup and ownership screening, not only checks on the individual who registered.
• Payout timing: screening that can run before the first payout as well as at onboarding.
• Fraud signals: email, phone, IP and velocity checks that catch repeat and fake sellers early.
• Explainable matches: every hit carries the source record behind it, so a trust and safety analyst can decide quickly.
• Data handling: control over where seller data is processed and how long screening records are kept.