With FrankieOne’s flexible, future-proof solution, Shopify benefits from:
- A seamless business onboarding from with end-to-end verification
- Single-click UBO reports
- Quick implementation
- Integrated solution for all verification required
- Single integration and commercial arrangement for multiple vendors
Shopify selected the FrankieOne solution for verifying its merchants and their businesses because of its unique ability to provide seamless, end-to-end KYB verification. By using FrankieOne’s platform, Shopify benefited from our single commercial arrangement and single API to gain access to multiple vendors and data sources much faster than otherwise possible. In addition to verifying businesses (known as “Know your business” or “KYB”), Shopify also needed to verify the ultimate beneficial owners (“UBOs”) of each business. Through a nesting feature on our platform, the UBOs can be linked to the businesses verified, and KYC on those individuals can be performed automatically within the platform, reducing the complexity for operational teams who would otherwise need to manage multiple systems.