Market and Buyer’s Guide for Business and Entity Verification in Financial Institutions and Fintechs


The Essential Guide for Navigating the Business and Entity Verification Technology Landscape Beyond Regulatory Compliance

Report Overview

In the digital era, there is ample opportunity for bad actors to exploit vulnerabilities in both customer and business verification processes. However, 98% of financial institutions and fintech providers rely on inefficient and costly manual reviews to verify legitimate businesses, where robust screening checks are not only a regulatory requirement but an operational necessity.

Business and entity verification (BEV) is the cornerstone of trust and security in financial institutions and fintech, serving as a defense against fraud and money laundering. However, it faces challenges in keeping up with evolving fraud tactics and technological advancements, ensuring global compliance with diverse regulatory frameworks, and balancing rigorous security measures and a seamless business customer experience. 

These developments have compelled the financial services and fintech providers to seek more robust verification tools, streamlining the screening process, creating greater business confidence and managing regulatory compliance. Liminal projects the total addressable market to grow from $4.4 billion in 2024 to 5.5 billion in 2028 at a CAGR of 6.1%

Access the market and buyer’s guide for market trends, buyer insights, and essential information to select a business and entity verification solution, enabling you to maintain confidence and compliance in the screening process. 

The full research report includes:​

  • Market Overview
  • Business and Entity Verification Definition
  • Current State of BEV in Financial Institutions and Fintech
  • Role and Importance of BEV Solutions
  • BEV Typologies and How Solutions Work
  • Necessary Product Capabilities
  • Market Dynamics, Challenges, and Demands
  • Market Opportunity & Drivers
  • Future Outlook
  • Buyer’s Guide
  • Notable Vendors List

This market research is a valuable resource for financial institutions and fintech companies looking to make informed decisions about implementing business and entity verification solutions to safeguard their business customers and organization, including a downable buyer’s guide and notable vendors list.

Ready to get started?

Our identity experts and advisors are available to discuss your requirements, answer questions, and set up a demo of our innovative market intelligence platform.