Easily assess industry risk with our NAICS code API
Middesk’s NAICS code API automatically retrieves industry classification information that helps you assess risk so you can onboard businesses quickly and confidently.
Business Profiles
Coverage in the US
Update frequency
Business registries
What is a NAICS code API?
A NAICS code API is a tool that automatically retrieves a business’ North American Industry Classification System (NAICS) code. This numerical code represents what industry a business is in, as standardized across the United States, Canada, and Mexico. A business can have more than a single NAICS code.
Being able to classify a business’ industry is extremely important for assessing risk, as certain industries can pose substantial risks based on their activities, because of current economic trends, or even because they are outright prohibited.
How the NAICS code API works
Step 1
All you need to start is an API key, along with the names and addresses of the businesses you want to retrieve NAICS codes for.
Step 2
Our Industry Classification package will automatically retrieve NAICS codes for the businesses you’re screening.
Step 3
Middesk will classify businesses into any of the 300+ industry groups as defined by the NAICS standard, or find a SIC or MCC code equivalent.
Step 4
Middesk identifies high-risk industries you should avoid working with, and you can optionally order Web Analysis to instantly conduct a risk assessment on a business’ entire web presence.
Information you can get using our NAICS API tool
Beyond just industry classification, Middesk can retrieve a wealth of other business verification information.
Middesk Business Verification Data Sources
Data You Can Access
What Do You Need to Know?
Business industry classification (NAICS, SIC)
What industry does the business operate in? What does the business make and/or sell? Are their operations potentially illegal, or do they have a high risk of attracting criminal activity? Does the industry have heavy regulations that demand stringent compliance requirements, and if so, are these requirements too costly to make it worth operating in this industry? Could working with businesses in this industry hurt my brand or reputation?
Business name, address, & phone number
Does the business have basic identifying information and a physical presence? Is this information consistent with how the business is registered with government agencies and regulators?
Business license
Does the business have a proper business license and is it registered to operate in a particular industry?
EIN / Business Tax ID
Does the business have a registered tax ID for filing taxes in the jurisdiction it operates in?
People associated with a business
Who owns the business and who is otherwise involved with the business? Are there any individuals that pose a financial, criminal, or reputational risk?
Business documents
Do the businesses' other documents match what I know about their operations and services? Are there any other risk signals that may necessitate further review before entering a B2B relationship with this business?
Liens & litigations
Are there any liens against the business? Is the business currently in legal trouble or undergoing litigations that could pose a financial threat to the business? Are they in danger of losing assets if they don’t pay off their debt?
Bankruptcy data
Has the business ever been bankrupt in the past, or is it currently in the process of filing?
Watchlist hits & PEP screening
Are there any restrictions or prohibitions on dealing with the business due to the jurisdiction it operates in or individuals associated with the business?
Applications for a NAICS lookup API
Using our NAICS code API, organizations are able to quickly get industry classification details for businesses they are entering a B2B relationship with.
Fintechs
Fintechs differentiate themselves from traditional banks by focusing on speed and convenience. These financial institutions may want to gain a competitive edge by catering to businesses that legacy banks won’t work with. Identifying industry classification is essential for understanding risks and ensuring compliance.
Insurance
Insurers need to identify the industries their clients operate in so they can effectively underwrite policies that are risk-appropriate. Easily identify businesses that are operating in high-risk industries so you can exercise necessary precautions (or even deny service).
Commercial banking
Banks need to be extremely cautious about who they extend financial resources to. Using our NAICS code API, traditional financial institutions are able to conduct industry classification for businesses they onboard, helping them protect against fraud and financial crimes.
Lenders
By understanding the industry a business operates in, they’ll have a better idea of what financial support a business needs in terms of borrowing. Lenders can draw up suitable loan terms while considering the industry the business operates in — and any associated risk of doing business.
Marketplaces
Marketplace managers need to balance financial, criminal, and reputational risk, all while maintaining a quality shopping experience. To effectively maintain marketplace integrity, they need to be aware of which businesses they allow to operate on their marketplace.
Payment platforms
Payment processors that facilitate money movement need to adequately protect against fraud, money laundering, and other financial crimes. Accurately classifying businesses using an NAICS code API helps them do that by understanding the common industry risks.
Assess Industry-based risk effectively with our NAICS code API
Determine industry classification for all code types
Reliably classify businesses into any of the 300+ industry groups as defined by the NAICS standard, as well as SIC and MCC code equivalents.
Stay compliant by screening for high-risk industries
Classify the industry for businesses early in the funnel to quickly determine their risk profile.
Automate manual tasks and free up your analysts’ time
Classify high-risk industries automatically so you can onboard businesses quickly with confidence.
Get additional business verification details
Retrieve business verification information on any business, allowing you to detect early signs of risk and verify businesses during onboarding.
Start building today with our easy-to-integrate NAICS API
What makes Middesk’s NAICS code API unique?
Get all classification codes
Retrieve NAICS codes, along with equivalent SIC codes and Merchant Category codes so you can quickly and reliably verify businesses.
Confidence scores
Get a measurable score that indicates how likely the business industry classification is accurate, so you can onboard faster.
Fresh data
92% of our records are refreshed monthly (or sooner), so you’ll know of any industry classification changes as they happen.
How Radius Bank finds more hours in the day with Middesk
“Every minute we’re able to save in processing loans is a minute faster than a small business will have access to the capital they need. With Middesk, what ordinarily would have taken us hours to do is now taking us minutes. We take pride in partnering with technology companies that help us serve our customers better.”
How Novo redefines its KYB process with Middesk’s verification product
“Middesk's market-leading methods challenge the established legacy approach to verification. Their product has unlocked significant efficiency, enhancing the onboarding experience for small businesses to access Novo. Middesk’s ground-up approach to product development played an integral part in increasing confidence in KYB, both internally and with partners.”
Driving team efficiency and performance with Clearco
“Middesk's Lien Search product has allowed my team to focus on value-add activities like making deals rather than tedious tasks like sifting through UCC portals. My team is faster and happier with getting business owners the capital they need to grow their businesses.”
Leveling up Plaid’s onboarding process with seamless KYB
“When a customer signs up for Plaid, they want to start building on our APIs right away. Middesk has been a critical partner enabling us to quickly and seamlessly onboard new customers.”
Frequently Asked Questions about NAICS API tool
Since the NAICS code indicates the industry the business operates in, it’s a vital tool for risk assessment and compliance purposes during KYB. Businesses retrieve NAICS codes as part of business verification during onboarding, ensuring they mitigate against criminal and financial risk. It can also be used to screen against industries you may want to avoid conducting business with due to reputational risk.
Businesses typically choose a NAICS code themselves when required (e.g. on censuses, tax forms, or other government contract applications). Government agencies may also assign a NAICS code to a business so they can carry out their functions.
Yes. A business that offers diverse product or service offerings may have more than one NAICS code to reflect the different industries it operates in. For example, Apple Inc. is commonly listed using NAICS code 334111 (Electronic Computer Manufacturing), but is sometimes assigned 334220 (Radio & Television Broadcasting and Wireless Communications Equipment Manufacturing) or even 511210 (Software Publishers).
Standard Industrial Classification (SIC) codes were the United States’ standard for industry classification. As the economies of North American countries became increasingly intertwined in the 1990s, the United States, Canada, and Mexico collectively developed and adopted the NAICS code system. This replaced and expanded upon the SIC code system and made it much easier for these nations to conduct business while cooperatively combating crime.
Some US agencies still use the SIC code system, which may require the SIC codes to be crosswalked to their NAICS counterparts.
Industries are prohibited based on the judgement of each individual business. Most commonly, businesses are prohibited because they are inherently involved in criminal activity. Alternatively, they can be prohibited simply because they have a high risk of criminal activity, which are then avoided to mitigate risk. In other cases, businesses choose not to do business with certain industries simply because they are heavily regulated, and therefore require a significant investment in compliance or may pose a reputational risk to their business based on potential associations.
The automated & accurate NAICS API you need
Get started with our NAICS code API
