Banking and financial services
Know Your Business (KYB) processes in banking and financial services ensure the identity verification and legitimacy of businesses during client onboarding, aiding in fraud prevention and regulatory compliance.
Approve more SMBs while managing risk, compliance, and retention. Integrate our business verification solution directly with your onboarding and verification workflows for instant results.
Our better business data delivers the most accurate results on:
Unique accuracy, broad global coverage, and superior breadth of data points
Instant data results for real-time verification and approval decisions
Services enterprise-scale portfolios with technology that integrates seamlessly to complement existing workflows
MARKAAZ DATA COVERAGE
Countries or jurisdictions with robust business data coverage & depth
Countries or jurisdictions with some business data coverage
Countries or jurisdictions with low business data coverage
Connect with our team to test our match rates on your customer, vendor, or supplier portfolio and to see how we are expanding our data coverage.
For a top five bank, Markaaz identified an additional 29% of potential SMB card customers that would have been declined a bank card with traditional verification services.
This results in three-digital incremental revenue for the bank over the card lifecycle – a multi-million dollar missed opportunity across the customer portfolio.
Know Your Business (KYB) processes in banking and financial services ensure the identity verification and legitimacy of businesses during client onboarding, aiding in fraud prevention and regulatory compliance.
Lenders utilize KYB processes to verify the legitimacy of businesses during loan applications, ensuring compliance and mitigating fraudulent activities.
Card processors employ KYB processes to verify the legitimacy of businesses during merchant onboarding, ensuring compliance and reducing the risk of fraudulent activities.
Business insurance providers use KYB to verify the identity and legitimacy of businesses during underwriting, assess risk accurately, ensure compliance, and monitor ongoing risks. It enables them to offer suitable coverage, prevent fraud, manage claims efficiently, and maintain a healthy insurance portfolio.
Markaaz delivers data based on your needs.
Enable higher business match rates and improve onboarding success with lower false positives and false negatives.
Enable real-time verification, reducing the time to onboarding and increasing efficiency for your teams.
The most accurate data directory and advanced algorithms help reduce SMB onboarding risks and improve compliance.
Accelerate your approval process with configurable “yes/no/requires further due diligence” decisioning in real-time.
Manually audit any decision by requesting decisioning details to determine which rules were satisfied and which were not.
Edit parameter thresholds to optimize your decisioning processes without sacrificing accuracy.