KYB Software for Business Verification

Verify and onboard your business’ customers with ease

Frequently asked questions

What is Know Your Business (KYB)?

Know Your Business (KYB) is an organization’s regulatory and legal obligation to verify the identity of any entity they do business with. This ensures the organization does not participate in money laundering, financing terrorism, or other financial crimes.

Does my company need to implement KYB?

In the US, KYB processes are currently regulated by the Financial Crimes Enforcement Network’s (FINCEN) Customer Due Diligence (CDD) Final Rule. In short, this rule states that the following entities should implement KYB checks: - Banks and other financial institutions (including fintechs) - Mutual funds - Securities brokers or dealers - Futures commission merchants - Commodities brokers - Other financial institutions stipulated in the Bank Secrecy Act Financial entities such as banks, lenders, and payment service providers are required to implement the CDD Rule.

What is the difference between KYB and KYC?

Know Your Business (KYB) is an organization’s regulatory and legal obligation to verify the identity of any entity they do business with. This ensures the organization does not participate in money laundering, financing terrorism, or other financial crimes. KYB is similar to Know Your Customer (KYC) except with an extra layer of complexity because it focuses on verifying that the business and any ultimate beneficial owners (UBOs) are all legitimate.

What is required for implementation and how long does it take?

Your business verification efforts can start right away using our dashboard, or implement our API in an afternoon.

How are you different from other providers?

Our platform is built on our own data infrastructure. Middesk provides complete and up-to-date data on every registered business in the United States. If we're unable to match your business to our database, we'll have someone from our team manually review your request in under 5 minutes. We'll automatically notify you about changes to your customer base, enabling you to make informed decisions during and after onboarding.

Frequently asked questions

With limited inputs, we provide comprehensive outputs

Business Registration

Get an accurate, up-to-date view of your customers’ entity names, addresses, which states they’re registered in, and the status of those business license registrations.

Business Registration

With limited inputs, we provide comprehensive outputs

EIN / TIN Verification

We verify that the business’ EIN / TIN is valid and matches the name. If it can’t be verified, we'll perform a series of lookups to identify alternate names that may be associated with that EIN / TIN.

Business Documents

We automatically find the most important documents associated with each business, including Articles of Incorporation, Certificate of Good Standing, and Annual Reports.

People Matching

We provide a holistic picture of business officers, registered agents, and other key people associated with each business.

Accurate business verification results that speak for themselves

Validated by innovative technology companies and large national banks.

92%

Records refreshed within the last 30 days

Accurate business verification results that speak for themselves

2-3X

Improvement in auto-approval rates

75%

Reduction in document requests

KYB and KYC compliance with one integration

We've partnered with the leading user identity verification platform, Socure, to seamlessly integrate the two components of identity verification required by B2B businesses: Know Your Business (KYB) and Know Your Customer (KYC).

KYB and KYC compliance with one integration

We help companies reduce risk and onboard customers faster

Smooth onboarding, higher conversions

Accelerate onboarding, approve more business applications, and stay ahead of the competition — all while reducing fraud and staying compliant.

The leading business identity platform

The complete KYB solution to identify and verify any business

Verify business licenses, EIN / TIN, documents, and more

Access data collected from all 52 SOS sites in seconds

Maximize decisions with data on 100% of businesses

Streamline KYB compliance while reducing risk

Reduce operational overhead

If we're unable to match your business to our database, we'll have someone from our
team manually review your request in under 5 minutes.

KYB and KYC compliance

We've partnered with the leading user identity verification platform, Socure, to seamlessly integrate the two components of identity verification required by B2B businesses.

Reduce risk and move faster

We'll notify you of changes to your customer base, and automatically approve businesses to align with your policies across key dimensions, such as business name, address, watchlists, EIN, and more.

Verify any business using our easy to use dashboard or API

Tell us about your business

Who’s this demo for?

Are you looking for a modern way to onboard new businesses?

The complete KYB solution to identify and verify any business