Markaaz has launched a pioneering global business identity platform to help banks, FinTechs, and enterprises verify and onboard businesses of all sizes, especially smaller ones. After four years and incorporating millions of data points, Markaaz aims to transform business access to essential services.
A Groundbreaking Solution
“No one has created a single pre-populated directory with a comprehensive view of every business worldwide and a two-sided platform for secure, real-time, mutually consented monitoring,” says Markaaz CEO Hany Fam.
Fam emphasizes that Markaaz addresses a longstanding issue: outdated and incomplete business data, especially for small and medium-sized enterprises. Thirty percent of small businesses globally are rejected for basic services because they can’t be verified.
Proven Leadership
Fam, who previously developed Mastercard Track, aims to connect small businesses with suppliers, customers, and financial institutions. Markaaz’s team includes experienced executives and advisors from leading organizations, giving them a head start in creating a global business directory.
Comprehensive Directory
Markaaz’s directory includes 480 million businesses worldwide, sourced from 65,000 global sources and refined for accuracy. This data helps banks, FinTechs, and enterprises identify, verify, onboard, and monitor businesses in real-time. Markaaz partners with Centerfield, Byfunder, Lendfoundry, Temenos, and Paysafe, among others.
Beyond Credit Scores
Markaaz offers a comprehensive view of business health, beyond traditional credit scores, through a proprietary business health score. This real-time contextual score provides banks with a more accurate picture of a business’s viability and creditworthiness.
Future Vision
Markaaz plans to establish a trust bureau for business data and offer real-time transaction-level financing. The platform is designed to support global business growth and enhance profitability.
“We’re dedicated to supporting business growth and enhancing profitability worldwide,” Fam says. “Business inclusion is a key focus for us.”
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