[nebezb]

Any time you interact with the financial services industry in a meaningful way, they are doing almost exactly all of these checks on you. It is mandated by law, and they're overseen by FINTRAC in Canada and FinCEN in US.

When you applied for a bank account for your freelancing business (or startup idea), some people googled you, looked for PEPs (politically exposed persons) in your family, stored photos of your IDs and probably even printed them off, and sent everything in a nice package to some "risk" department. Who knows how that department is handling your data.

The only difference is that Persona is trying to put a front-end on it and selling the process as a SaaS. Look up "KYC/KYB saas" and you'll find hundreds of businesses doing this (including, of course, Persona).

edit: I want to emphasize that this isn't restricted to just business banking. Poor wording on my part. Lots of industries are legally mandated to conduct KYC/IDV. Notaries do it in home sales, your stock brokerage is doing it, employers in regulated industries do it to everyone on payroll. The list is very long. Unfortunately...

The government should take on responsibility for KYC imo, instead of letting 100 vendors come up with their own solutions. But that would probably have some nasty externalities.