Detected: Frictionless global business onboarding

AFC Autumn 2022 Conference: Fintech Innovator Award

Winner: Detected

The Fintech Innovator Award Winner for Autumn 2022, sponsored by Lendscape, was unanimously voted for by the Fintech Innovator judges and AFC conference delegates. The winner for Autumn 2022 was Detected.

Liam Chennells, Chief Executive Officer and Co-founder of Detected took to the stage at the AFC Autumn 2022 conference to pitch Detected to the Fintech Innovator judges and conference delegates.

Detected, which was founded in July 2020, is a London-based fintech that provides frictionless global business onboarding, the key to driving profitable customer relationships.

Detected believes that, up to now, business onboarding has been slow, complex, manual and unfit for purpose and that current Know Your Business (KYB) verification is ineffective for both the businesses who are doing the onboarding who have to connect with multiple data providers, take the information and manually upload to their system, as well as the businesses who are being onboarded and being asked for vast amounts of information that technology could support.

Detected has fixed this problem on both sides by focusing on how technology can make the process better. Detected think about KYB like e-commerce – how many businesses arrive, on one side, and how many are onboarded on the other side.

Detected utilises over 1,700 data sources – including big providers such as Orbis as well as local providers in different countries – to create a detailed and accurate profile of any business in the world. It supplements this with information that can be added by the business that is being onboarded.

Detected uses an advanced matching algorithm to simplify the process – the algorithm combines all the data to create the most up-to-date profile of a business. The level of matching is over 98% and the experience is connected via powerful APIs.

“We can’t innovate unless we are creating proprietary technology and the advanced matching algorithm is what defines our business.”

Using artificial intelligence (AI), Detected have built logic into their system so that genuine AI pulls the information together in a single source and creates AI insights, identifying fraudulent actors and determining risk categories at scale.

Ongoing management is an important aspect of the system according to Chennells, as the client is alerted when anything changes within the business.

Chennells sees Detected as “the world’s first fully end-to-end KYB software.”

“Detected is the world’s first fully end-to-end KYB software.”

Frictionless onboarding – Easily capture verified information about your business customers anywhere in the world, with just one link.

Why Detected?

A customer-first approach to business onboarding
Unlock growth – Achieve a faster time to revenue and lower churn rate
Improve efficiency – Reduce your operating expenses
Gather unrivalled global business data
Partnerships – The onboarding platform of choice for Fintech – Detected is an accredited Visa Fintech Connect partner
Business profiles – Capture and monitor exactly what you need
Technology that scales and is built for enterprise