Unlocking the Power of

Business Verification (KYB)

 Will
Charnley
Managing Director
Liminal
 The KYB market
is shifting 205 12%
Jurisdictions committed to Fraud due to
FATF standards4. merchant fraud5
 Regulatory Pressure Drives Demand
.
 Fraud Prevention Use Cases Emerging
$1.3B 46
 Strong Investment into the Space
Invested into KYB since M&As since 20211
 Buyer Demands are Unmet 20201

46% 8-12
Buyers say data quality Vendors used by buyers
is an issue3 of KYC / KYB6
.

(1) Liminal Investment Trends Data (2) Liminal, Link (3) Refinitiv, “Accelerating Digital Transformation” (4) FATF, “Transparency and Beneficial Ownership” (5) Mastercard, “Merchant fraud predictions…” (6) Ericsson, ”Mobility Report”
 Solutions have tried to address key problems
Problems Causes Current Solutions

KYB processes can take weeks Manual processes are lengthy & costly New automated entrants

Businesses face global regulatory risk Regional regulations shift constantly Legacy incumbent solutions

Merchant onboarding / monitoring

Merchant fraud is an emerging issue KYB solutions lacks fraud capabilities
solutions

Vendors stacks are too complicated Solutions are single point-solutions Account opening platforms
 Vendors have had mixed results
New Automated Merchant Onboarding Account Opening
Legacy Incumbents
Entrants Solutions Platforms

Example
Vendors

Automation to streamline
Approach Large global data Multi-faceted platforms Use KYC data to ID UBO
processes

Success Medium Medium Low Medium

Outdated datasets create Lack of focus at account Mostly repackaged

Challenge Not global, creating gaps
manual processes opening consumer KYC data
Buyers today are
forced to make a
Current Market Opportunity for KYB Vendors
Chart is illustrative
choice

High
Legacy
Incumbents
 Large datasets, but highly manual
 Lack of focus, falling behind

Total Data Access

 Consumer-focus creates data gaps
Merchant
 Still highly regional Onboarding

Account Opening
Platforms

New Automated
Entrants
Market
Demands
Low

Low Automation High

Future demands
will center on
Future Market Opportunity for KYB Vendors
Chart is illustrative: Arrow size indicated magnitude of movement
automation

High
Legacy
Incumbents
 Investment into tech needed
 Need to build actual products / solutions

Total Data Access

 Add quality entity data
Merchant
 Acquire global data sets Onboarding Future
Demands

Account Opening
Platforms

New Automated
Entrants
Market
Demands
Low

Low Automation High

Future-facing
vendors will have
strong tailwinds
1 Regulations drive demand 4

2 Enterprises expect automation

3 Fraud can drive further adoption 5

2

4 Regional data is hard to obtain

5 Criminals are a step ahead of solutions 3 2

4
1
Investors, buyers,
and vendors Investors

should act now

We anticipate a large, $8.2B total addressable
market (TAM) for vendors in KYB in 2023

 Investors: Large, expanding TAM

Buyers
 Buyers: Get a strong ROI solving fraud
and compliance issues Buyers can reduce fraud and compliance costs,
saving 3-5x by choosing the right vendor
 Vendors: Opportunity to consolidate the
current technology stack

Vendors
$1.2B invested into KYB, well capitalized vendors
can capture the emerging market opportity
Meet us at
Booth #1342
Or scan the code to
learn more online:
THANK YOU!