The Markaaz ID is a unique identifier assigned to each business in the Markaaz platform. It serves as a digital fingerprint, ensuring that every business in our ecosystem is distinctly recognized and easily accessible. This ID is integral to verifying the authenticity and details of a business, facilitating smoother interactions and transactions within our network

Markaaz leverages proprietary data matching algorithms, designed by data experts and reinforced with AI/ML, to select the best data elements across global sources and streamline business identity verification at scale. 

We deploy our advanced data matching algorithm to connect variants of each small business data field, including multiple registered addresses, into a single Golden Record. 

Markaaz leverages cutting-edge technology crafted by data experts to ensure unparalleled accuracy during the verification process. 

Our platform rapidly sifts through over half a billion global records to identify matches for customer business records within just 2 seconds. Unique to Markaaz, our proprietary data matching algorithm can handle minor discrepancies—such as spelling errors or multiple registered addresses—by utilizing advanced AI and machine learning. 

This capability allows us to precisely consolidate data variants and correctly match business records during the verification process. 

Tax ID refers to identifiers like Employer Identification Numbers (EIN), Federal Employer Identification Numbers (FEIN), or Taxpayer Identification Numbers (TIN), which are issued by the U.S. Social Security Administration (SSA) or Internal Revenue Service (IRS) for tax returns and other tax-related documents. 

National ID refers to country public unique identifiers (UID), such as value-added tax identification numbers (VAT) for countries of the European Union, that are issued both for tax purposes and to recognize the identifying details of the business entity to which the ID has been allocated. 

Geo-precision refers to the exact latitude and longitude coordinates of a business location. 

A latitude/longitude precision code is far more detailed than a typical building number, street name, and zone information—such as city, state, and ZIP code—used in standard address information and can represent physical location with greater accuracy. 

The Business Indicator refers to whether an address is a business address or a residential address, such as a suite in a corporate building or a personal home office. 

Non-matches are match responses that fall below the specified Match Confidence Threshold for a business entity search. 

The Markaaz Match Confidence Threshold is an analysis of the match confidence level on a scale of 10 (strongest) to 1 (weakest). Non-matches ignore the Match Confidence Threshold and return entities considered to have attributes and tokens of similarity, such as a business operating with a different name (DBA) but with the same registered officers and address. 

Discrepancies are no challenge for Markaaz Advanced Match. Markaaz collates multiple sets of data from numerous sources, including inconsistent business records, and merges them into a single Directory containing a ‘Golden Record’ for every business entity. 

Our proprietary data matching algorithm can standardize data, leverage multiple addresses—including the registered address, physical, mailing, and former addresses—and coordinate multiple attributes to reach a final confident match. With Markaaz, no business is left behind.

Markaaz simplifies international business identity verification with an extensive global database that spans 200 countries and counting, including specialized coverage in key regions across the United States, Europe, Japan, Latin America, and Asia Pacific. 

We track country public unique identifiers, such as value-added tax identification numbers, for accurate verification.

Yes, you can adjust match criteria to meet your specific needs. 

Match criteria can be adjusted to not get just one perfect match response, but up to 10 entities considered to have attributes and tokens of similarity. In cases where the identity of a business is not obvious, such as a business operating with a different name (DBA) or in industries where business names are heavily populated, you can lower the Markaaz Match Confidence Threshold.

The Markaaz Match Confidence Threshold is an analysis of the match confidence level on a scale of 10 (strongest) to 1 (weakest). The recommended value is 8.4; however, the Threshold can be modified to view entities that may match some, but not all, parameters. 

Additionally, Markaaz provides the option for field-level grades for each entity returned, making it simple for you to identify the commonalities and differences in the searched parameters and returned entities.

Markaaz collects business firmographic data from global premium sources, freely available public information, and direct contributions from SMBs, using advanced, proprietary technology to verify and consolidate business records. Firmographic data is updated on a weekly or monthly basis, depending on the availability and nature of the source data.

Markaaz sources its firmographic data from 65,000+ trusted and authoritative data providers, including public records, government databases, industry directories, and premium proprietary datasets. We also leverage data contributed directly to Markaaz by businesses themselves to ensure the information we provide is comprehensive and current. 

Our proprietary approach to matching, deduping, scrubbing, and triangulation of data results in a high-confidence unique identifier for every business. Our process allows for the most accurate firmographic information, giving you a holistic view of each business you interact with.

Industry codes refer to the North American Industry Classification System, or NAICS, a standardized system used to classify businesses and industries in North America. Developed jointly by the United States, Canada, and Mexico, NAICS provides a consistent framework for collecting, analyzing, and comparing business data across these countries. 

Businesses are required to report their NAICS code in a variety of contexts, including formation documents, state business documents, federal tax returns, and government reporting, which are then acquired by Markaaz via our network of trusted and authoritative data providers. 

If an international business does not use NAICS, its industry code will be converted to NAICS code on the Markaaz platform. 

An Active business name in the firmographic data results indicates that a business is currently operational and legally recognized under the specified name. 

This status confirms that the business is actively conducting operations, complying with relevant regulations, and maintaining its registration with appropriate authorities. 

Markaaz offers two Sales Volume models, Sales Volume Precision and Location Sales Volume Precision. 

To forecast the quantity of goods or services sold over a specific period, we gather historical sales data, including quantities sold and any associated revenue, as well as information on market trends and industry performance. We then apply machine learning to normalize the data, handle missing values, and aggregate the data as needed for analysis.

Yes, Markaaz provides Ultimate Beneficial Owner (UBO) data and verification services.

UBO verification helps identify and verify the individuals who ultimately own or control a business. This is crucial for compliance with regulatory requirements, such as anti-money laundering (AML) and Know Your Business (KYC) regulations.

By leveraging comprehensive data sources and advanced verification techniques, Markaaz ensures accurate identification of UBOs, enhancing transparency and reducing risk in business transactions.

Yes, you can customize firmographic data reports.

Once you’re set up in the Enterprise Partner Portal, you can customize your desired firmographic data groups to include or exclude data points like business legal status, business legal structure, business size, registration date, number of employees, sales volume, and more. Adjust the API code to change or add body parameters, and tailor the firmographic data you receive in response.

Markaaz prioritizes the confidentiality of firmographic data by implementing robust security measures across all aspects of our operations. We use advanced encryption standards to protect firmographic data both in transit and at rest. Additionally, we store it with cloud providers that have top-tier physical security controls, limiting access to authorized personnel only.

Firmographic data is refreshed on a weekly or monthly basis, depending on the availability and nature of the source data.

Markaaz assesses the health of a business by considering multiple factors, such as the company's bankruptcy history and its Failure Risk Score. 

The Markaaz Failure Risk Score evaluates the likelihood of the business ceasing operations with a loss to creditors over a 12-month period, using a scale from 1 to 9, where a rating of 0 indicates bankruptcy. 

We use a variety of firmographic data, public records, and proprietary algorithms to generate a comprehensive risk assessment. Several attributes play into the business risk score that a specific entity receives, including business size.

Markaaz collects business health data from credit bureau partners to make this data available to its clients.

If a company does not have readily available business health metrics, then the data group will have a gray alert icon and still be expandable; however, the data response will be None.

Yes, you can monitor business health scores over time.

Markaaz Monitoring provides monthly business and daily compliance monitoring reports in the Enterprise Portal. You must retrieve the Markaaz ID using Markaaz Match, and add that entity to a portfolio before enabling the Monitoring API. 

Yes, the Markaaz risk scoring model is customizable. 

Several attributes play into the business risk score a specific entity receives, including business size and available business health data. Different industries will have different risk scores based on business failure and business credit. 

The Markaaz Business Decisioning API allows you to set custom parameters to your business’s custom requirements. Rather than a one-size-fits-all approach, flexible parameters allow you to apply a set of configurable data rules to assess the unique risk factors of each business relationship. 

This way, you can verify and approve the businesses that you want to work with.

Yes, the Markaaz compliance API provides detailed information on liens, judgments, and bankruptcy trade lines. 

This data is essential for assessing the financial health and legal standing of a business.

By accessing this comprehensive information through our API, businesses can make more informed decisions, mitigate risks, and ensure compliance with regulatory requirements. The integration of this data into your workflows helps maintain transparency and trust in your business relationships.

Markaaz customers are typically onboarded with our services within two weeks.

You will be assigned a dedicated Markaaz staff member, who will work with you during the integration process. 

The Markaaz onboarding team also works closely with the support team on getting new clients up and running throughout this process via Slack.

Yes, the Developer Portal provides access to the sandbox environment and allows familiarization with the Markaaz API service.

The sandbox environment limits the number of API calls that a trial user can make, and certain premium features in the Decisioning and Monitoring Suite are disabled. However, the response data returned by the sandbox APIs comes from the production Markaaz Directory of over half a billion global businesses.