A KYB software that makes onboarding easy
With direct connections to government departments and regulatory agencies, Middesk’s KYB software provides all the info you need to verify businesses.
Business Profiles
Coverage in the US
Update frequency
Business registries
What is KYB software?
KYB software automates business verification by retrieving identifying information on businesses, such as Secretary of State fillings, business details, TIN (Tax Identification Number), EIN (Employer Identification Number), and more. This enables companies to validate and qualify businesses easily and with confidence.
This not only helps you apply with AML/CFT laws and regulations, but also helps you effectively manage and mitigate risks associated with potential B2B relationships. With Middesk, companies can easily search businesses by name (or other identifying information) to quickly retrieve verification documents, along with risk scores.
How the KYB software tool works
Step 1
Enter the business name and office address.
Step 2
We return up-to-date information that helps you identify the business so you can verify and onboard them quickly.
Step 3
Order additional information about the business, including adverse media screening, and more.
Information you can get with our KYB platform
We provide a variety of business details that help you make fast, reliable decisions about your B2B relationships.
Middesk Business Verification Data Sources
Data You Can Access
What Do You Need to Know?
Business documents
Can I confirm this is a real business by reviewing their Articles of Incorporation and Certificate of Good Standing?
What is the risk associated with conducting business with this entity, and is that risk tolerable?
Business license
Is the business legally allowed to operate in the regions it’s conducting business? Is it in good standing with all necessary regulatory agencies?
People associated with a business
Do I know who I’m actually conducting business with, and what risks are associated with working with businesses tied to these individuals?
Business name, address, & phone number
Does this basic data match what I have, and does it match SOS filing information? Was the business accurate and upfront with these details?
Business industry classification (NAICS, SIC)
Is this business conducting the type of business it says it does? What industries do they operate in?
EIN / Business Tax ID
Is this business registered with the IRS and does it have a tax ID number? Can you use this information to identify the business, or at least screen it for initial risk factors?
Watchlist hits & PEP screening
Are any people associated with the business on a watchlist, US sanctions list, or PEP list? And if so, are there any potential compliance issues that may prevent me from doing business with this business?
Liens & litigations
Are there any outstanding liens or litigations that are filed against the business, and what potential risk might these pose for a B2B relationship?
Bankruptcy data
Has this business ever filed for bankruptcy, and are there any other severe financial risks?
Applications of an automated Know Your Business software
Companies in a variety of different industries need to verify business to effectively manage their B2B relationships.
Fintechs
To deliver customers the speed and convenience they’re looking for, fintechs need to deliver a fast, seamless onboarding experience while still meeting necessary regulatory compliance requirements and effectively preventing risk.
Insurance
Confidently underwrite business customers with details that allow you to accurately assess risk of conducting business with them. Easily request business documents that help you meet KYB and CIP regulatory requirements and make informed decisions about an entity’s risk.
Commercial banking
Before opening financial accounts for business customers, it’s critical to verify the business is registered and representing itself legitimately. Quickly get business verification documents that allow you to authenticate entities, register their account, and get them up–and-running quickly.
Lenders
Understand the risk associated with lending to clients so you can extend capital worry-free. Easy access to business documents allow companies to verify and assess risk quickly so they can lend credit to corporate clients without exposing them to undue risk.
Marketplace
To operate harmoniously, marketplaces rely on trust between consumers and vendors. Being able to quickly and confidently verify business information enables companies to onboard trustworthy businesses and mitigating potential risks.
Payments
Payment Service Processors (PSP) need to be able to validate companies they conduct business with before authorizing payments, keeping merchants and consumers protected and their payments secure.
Accelerated business verification with KYB software
Know you’re onboarding an authentic business
Verify business registration details with official regulatory and government agencies to ensure the business is registered, and is who they claim to be.
Automate bulk data lookup for business validation
Conduct bulk lookups for business verification documents to get all the information you need to verify a business in a single search.
Create a comprehensive view of risk
Effectively determine the risk of conducting business with particular entities using available data from watchlists, industry classification, bankruptcy history, and more.
Get all your information from a single place
Rather than searching a multitude of regulatory agencies and government departments for all business verification details, you can get all this information from a single, reliable source.
Start building today with our easy-to-integrate APIs
What makes Middesk’s KYB software different?
Comprehensive US data
We have direct connections with official data sources, including Secretary of State offices, the IRS, and other US government agencies, ensuring 100% coverage of US business.
Reliable data freshness
With 92% of our data updated every 2 hours, our business records are up-to-date so you are always working with fresh data.
Automatic data updates
You get automatically updated to changes to the status of your customers, helping you adapt to changes that occur after onboarding.
Manually operated reviews
If we’re unable to find you an instant match, one of our team members will conduct a manual review within 5 minutes to ensure you get a response.
Frequently Asked Questions about KYB software
When starting a B2B relationship, you will want to authenticate certain details about a business, including its legal name, registered address, formation documents, proof of licensing, and tax ID. To further authenticate the business and assess risk, you’ll also want information about the Ultimate Beneficial Owners (UBOs).
The majority of our business information comes directly from US Secretary of State offices. We also source some data from regulatory and US government agencies, including the IRS. Our partnership with Socure facilitates data on people associated with a business.
This information is not consolidated, but instead spread out across different regulatory agencies and government departments that operate in many different jurisdictions. Without a solution, you’d have to collect this information by manually searching each of these sources individually. This requires multiple accounts and service fees for each data source. Each interface is unique as well, which means you would have to learn how to navigate each individual search tool.
KYB software allows you to retrieve a bunch of business verification information with a single search, saving you time and effort. You get all the business verification documents you need to validate and assess the risk of a B2B relationship.
You can get started immediately with a dashboard, or set up an API integration (that will automatically retrieve data) in a matter of days.
Get business verification details to approve businesses in minutes
Leverage our KYB solution to authenticate businesses effectively and reliably