Persona Launches Know Your Seller (KYS) Solution to Help Marketplaces Comply with INFORM Consumers Act
SAN FRANCISCO, May 16, 2023 /PRNewswire/ -- Persona today launched a know your seller (KYS) solution designed to help marketplace businesses comply with the INFORM Consumers Act, bipartisan legislation passed to combat global marketplace fraud last estimated to exceed $500 billion annually1. KYS was purpose-built for marketplaces on top of Persona's automated know your business (KYB) solution launched last June. With enhanced features for bank account verification, KYS is uniquely positioned to help marketplaces save time and reduce errors when onboarding sellers based anywhere.
- Industry-first solution integrates KYB with bank account verification, streamlining
SAN FRANCISCO, May 16, 2023 /PRNewswire/ -- Persona today launched a know your seller (KYS) solution designed to help marketplace businesses comply with the INFORM Consumers Act, bipartisan legislation passed to combat global marketplace fraud last estimated to exceed $500 billion annually1. - KYS was purpose-built for marketplaces on top of Persona's automated know your business (KYB) solution launched last June.
- By automating extremely manual, complex, and error-prone processes, Persona not only helps marketplaces comply with the INFORM Consumer Act, but also enables them to enhance trust and deepen competitive differentiation."
- An out-of-the-box configuration designed for the INFORM Consumers Act means marketplaces can meet compliance requirements in days, rather than months, with minimal engineering resources.