How Markaz’s automated business screening and decision APIs make it easier for banks to prospect small business customers
One of the biggest pain points for banks and financial institutions is not being able to accurately vet the small businesses they want to onboard. With limited information available to the public for small businesses and most business databases focusing on more easily accessible public business data, small businesses are often left out, and small business-focused businesses miss out on the opportunity to serve their services to potential small business customers. :
Another challenge is the time it takes on a small business. Many businesses with poor match rates are forced to use multiple business data sources or manual screening processes to try to screen their potential small business customers and often fail. Each batch of searchable data involves a dollar and time cost, and let’s not forget about fraudulent and cloned businesses.
Reliably sorting good from bad business records can be a nightmare.
We can help you screen and make better decisions so you can access more relevant, healthy small business customers you want to do business with.
Markaz’s business decision and approval APIs help you get faster answers to whether these small businesses meet your data criteria and speed up your onboarding workflows with high levels of small business compliance and answers available no or hours, but in milliseconds. While other providers take time to search for data, Markaz has created a universal, always-available, global data source that represents business health, brand and compliance data to shorten your review time and speed up decisions, meaning you you can get the right to attract customers to your small business.
It’s time to stop wasting time and money searching through some outdated databases.
Business Verification API Suite
Our Business Verification API Suite enables businesses to access the Markaz directory in real-time to verify small business applicants. Our Markaz directory features over 300 million global small businesses, and the API Suite provides 50 standard data fields that can be customized with up to 200 elements of firmographic, business health and compliance data.
The Business Verification API package searches the Markaz directory with just a few variables and provides firmographic, compliance and business health data. This API collection includes several API endpoints that can return within milliseconds a customized selection of data points about the business you’re trying to validate based on your unique needs.
Business Verification API Suite script
The bank should quickly attract new small business customers. How Markaz’s Business Verification API Suite increases verification rates and speeds up your login workflow.
Business Decisioning API Suite
Our Business Decisioning API suite enables enterprises to build on Business Verification APIs and apply preconfigured rules to over a dozen metrics. These rules will provide a real-time application approval decision and the details behind that decision based on the metrics you define.
Any decision can be manually checked by requesting decision details to determine which rules were met and which were not. Decision results can be customized by editing parameter thresholds.
Business Decisioning API Suite script
The bank must qualify the potential applicant. How are the Markaz Decisioning APIs working for you?
Our 300+ million global business directory offers more global business listings 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 approval and customizable decisions, reducing the need for manual approvals and saving you costs and time in your onboarding workflows.
Our enterprise customers can also increase regulatory compliance exposure and neutralize costly AML and fraud risks with better AML and compliance coverage using Markaz API Suites.