CDD and EDD Automation Software for Business Verification

Verify and onboard your business’ customers with ease

Frequently asked questions

What is Customer Due Diligence (CDD)?

Customer Due Diligence (CDD) is a process used by financial institutions to collect and verify relevant information about potential customers, such as who they really are and whether the information they have provided is accurate. Its purpose is to uncover and analyze potential risks to the financial institution, so better decisions are made during onboarding to prevent things like fraud or losses to the financial institution.

What is Enhanced Due Diligence (EDD)?

Enhanced Due Diligence (EDD) is similar, but provides an even greater degree of scrutiny to the potential business partnerships, and is used by companies bound by AML regulations and other regulating bodies like the SEC or FINRA. EDD goes beyond CDD to establish a higher level of identity verification by making sure you really know who the business is and what kind of business they are really conducting.

What’s the difference between CDD and EDD?

Though both have the same basic processes that must be completed, EDD is typically used by businesses operating in high-risk environments (like fintech, banking, insurance, etc.), or with high-net worth customers or large transactions (which are more susceptible to money laundering or fraud schemes).

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

Your CDD and EDD efforts can start in less than an afternoon with our dashboard or our API.

How is Middesk 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 EDD & CDD 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

We provide accurate and up-to-date information needed for CDD and EDD requirements, including 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.

Establish UBO & Beneficial Ownership

With our data you can instantly access Articles of Incorporation and business formation documents, getting a holistic picture of business officers, registered agents, and other key people to determine the UBO of a business with confidence.

Watchlist, Sanctions, OFAC Checks, & PEP Screening

Our customer due diligence & enhanced due diligence software checks a company and its owners on watchlists and sanctions lists, as well as OFAC & PEP screening to ensure your new partnership is compliant with all AML laws and regulations.

Accurate business verification results that speak for themselves

Validated by innovative fintechs, large national banks, and neobanks.

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

We help companies build a proper EDD & CDD process that meets AML & compliance standards

Build an automated system with our CDD & EDD data

Built on our data infrastructure, Middesk provides up-to-date and complete business verification data on every registered business in the U.S.

The leading business identity platform

Cross off every item on your EDD & CDD checklist

Establish a higher level of identity assurance by obtaining a business’ address, EIN, UBO, and whether the company or persons of interest are on any watchlists - all in seconds.

Reduce risk while moving faster

Get notified of changes to your customer base, and automatically approve businesses that align with your policies across key CDD & EDD dimensions, such as business name, address, watchlists, and more.

KYB & KYC compliance

We offer the data needed for KYB & KYC compliance, which is key to creating a thorough CDD & EDD fraud detection system that alerts you of risks while giving you the information you need to onboard faster.

CDD and EDD requirements are met 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).

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KYB and KYC compliance with one integration

Automate business verification for CDD & EDD

Streamline KYB compliance without sacrificing enhanced due diligence requirements

Meet EDD & CDD requirements by verifying real documents

Check EIN / TIN, articles of incorporation, UBOs, watchlists, and more in seconds

Access data collected from all 52 SOS sites in seconds

Perform better business verification with 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?

Automate business verification for CDD & EDD