Middesk Solutions &gt; 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?

Start verifying businesses 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

Tax Identification Number

We verify that the TIN is valid and matches the name. If the TIN is unable to be verified, we'll perform a series of lookups to identify alternate names that may be associated with that TIN.

Tax Identification Number

With limited inputs, we provide comprehensive outputs

Documents

We automatically find the documents, such as Articles of Incorporation and Annual Reports, associated with each business.

True Industry

True Industry generates a set of labels and prediction values that can be used to identify entities operating in high-risk industries.

People Matching

We provide a holistic picture of all the people associated with each business.

Accurate customer results that speak for themselves

Validated by innovative technology companies and large national banks.

92%

Records refreshed within the last 30 days

Accurate customer 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

Maximize conversion with data on businesses

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

The leading business identity platform

The complete solution to identify and verify any business

Maximize decisions with data on 100% of businesses

Reduce operational overhead

KYB and KYC compliance with one integration

Reduce risk with updates pushed in real-time

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 with real-time updates

We'll automatically notify you about changes to your customer base, enabling you to make informed decisions during and after onboarding.

The complete solution to identify and verify any business

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? *