Markaaz for Banking: Onboard more clients faster and more efficiently  

Markaaz Banking Use Case: How the Markaaz Business Decisioning API Suite and Markaaz Business Verification API Suite improve your onboarding workflows
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How Markaaz’s automated business verification and decisioning API services ease banks’ small business customer onboarding backlog 

Problem   

One of the most significant pain points for banks and financial institutions is being unable to accurately verify the small businesses they want to onboard. With limited publicly available small business information and with most business databases focused on more easily accessible public business data, small businesses often get left out, and small business-focused enterprises miss out on providing their services to a host of potential small business customers.   

Another challenge is the time it takes to onboard a small business. With poor match rates, many enterprises are forced to use multiple business data sources or manual verification processes to try and verify their potential small business clients and often fail. Every batch of data searched involves a dollar and a time cost – and let’s not forget about fraudulent and cloned businesses.   

It can be a nightmare to sort the good from the bad business records reliably.   

Solution

We can help you verify and make better decisions so you can onboard more compliant, healthy small business customers you want to do business with.  

Markaaz’s business decisioning and verification API services help you get faster answers to whether these small businesses are a right fit with your data criteria and speed up your onboarding workflows with superior small business match rates and answers available in milliseconds, not hours. While other providers take time hunting for data, Markaaz has built an all-in-one, always-available, global data source featuring business health, firmographic, and compliance data to shorten your time to verification and speed up decisioning, meaning you can get right to onboarding your small business clients.   

It’s time to stop wasting time and money searching multiple outdated databases!   

Business Verification API Suite   

Our Business Verification API Suite enables enterprises to tap into the Markaaz Directory in real-time to verify small business applicants. Our Markaaz Directory features over 300 million global small businesses, and the API Suite provides 50 standard data fields customizable with up to 200 elements across firmographic, business health, and compliance data.    

The Business Verification API Suite searches the Markaaz Directory with just a few variables and delivers firmographic, compliance, and business health data. This API Suite comprises multiple API endpoints that can return, in milliseconds, a customized selection of the data points about the business you are attempting to verify based on your unique needs.   

Business Verification API Suite scenario   

A bank needs to rapidly onboard new small business clients: How Markaaz’s Business Verification API Suite increases verification rates and speeds up your onboarding workflow. 

Business Decisioning API Suite   

Our Business Decisioning API Suite enables enterprises to build on the Business Verification API Suite and applies preconfigured rules across over a dozen metrics. These rules will supply an application verification decision in real time and the details behind that decision based on the metrics you set.    

Any decision can be manually audited by requesting the decisioning details to determine which rules were satisfied and which were not. Decision results can be tailored by editing the parameter thresholds.   

Business Decisioning API Suite scenario  

A bank needs to qualify a prospective applicant: How the Markaaz Decisioning API Suite does the work for you 

Result   

Our 300+ million business global Directory offers more global business records for broader coverage to verify small businesses, approve more small business applications, and grow your portfolio.   

Our Business Verification API Suite accelerates your approval processes with real-time verification and customizable decisioning – reducing the need for manual approvals and saving you both cost and time in your onboarding workflows.   

Our enterprise customers can also increase regulatory compliance discovery and negate costly AML and fraud risks with better AML and compliance coverage using the Markaaz API Suites.    

Why use Markaaz? 

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