Product

Business Verification Solution

Confirm the legitimacy of businesses and their owners in seconds. Help reduce fraud, support KYB compliance, and make more confident decisions when onboarding clients, vendors, or partners.
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Verify Business Entities. Reduce Risk Fast.

In today’s dynamic marketplace new business applications are growing at an unprecedented rate. With an average of 400K+ new business applications submitted every month, it has become more and more difficult for businesses to know who they are doing business with prior to forming a relationship.

Equifax goes beyond basic checks with enriched data, confidence scoring, TIN match, OFAC screening and linked business analysis. Our solution empowers faster onboarding and support KYB compliance–at scale, in near real time.

Assess Potential Fraud
Leverage the Business Verification Index to analyze the business and assess the potential for fraud.
Know the Company
Review information that most closely matches the inquiry information, including business and legal name, address, and more.
Know the Owner
Identify the business principal, guarantor, or both, as well as address and tax ID matches (if available).
Confirm Applicant’s Identity
Leverage six critical identity and digital data points to verify the applicant's identity.
Verify Applicants Employment
Validate the applicant's SSN is active with the company's active payroll and help determine current employement.
Secretary of State Review
Assess potentially adverse events related to the business, including bankruptcies, judgments, and liens.

How It Works

Know Your Business
Utilize the business verification indices and Digital Identity Trust to spot potential fraud. Then, review the company profile and public records to get a clear picture of the business you're dealing with.
 Ensure Compliance
Screen the business against OFAC lists, and confirm the EIN status using IRS data to support you're fully compliant with regulations.
 Identify the Owner
Access Owner/Guarantor Information, including address and tax ID matches. Review Associated Businesses to uncover any other entities linked to the owner or principal.

More Than Verification. Actionable Intelligence.

The Business Verification Solution is an online offering designed to help onboard new business accounts or vendors quickly. Through a rigorous validation process, The Business Verification Solution will help confirm the business information provided matches verified data collected from a number of trusted sources.

Frequently Asked Questions

Yes. Confirming the active status of a business directly with the IRS is one of the best ways to determine if you’re working with a legitimate business.

There is a variety of data sources that provide the most comprehensive view of a business, including the Secretary of State, bankruptcy filings, public records, Office of Foreign Assets Control (OFAC), as well as our proprietary Commercial Financial Network (CFN) and The Work NumberⓇ.

It is available in near real time via the Equifax Developer Portal. 
 

Related Resources

Product Sheet

Main Street Lending Report

Produced monthly, the Main Street Lending Report helps lenders and service provider track changes in the small business marketplace by providing insights into both lending and delinquencies.
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Product Sheet
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Product Sheet
Business Verification Solution
PDF Guide
PDF Guide
Business Verification Solution Sample Report
Product Sheet PDF Guide

Related Products

From establishing business legitimacy to verifying the identity of consumers (both online and in-person), explore all the ways to verify businesses you plan to partner with.
TIN Match
Establish the legitimacy of a business by confirming their EIN status with the IRS
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Digital Identity Trust
Reduce fraud losses and make data-driven decisions to verify your customers with confidence.
Learn More
The Work Number ID
Our identity validation service helps give you assurance early in the credit cycle
Learn More
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See How Our Solutions Work

Our online offering for Equifax customers helps onboard new business accounts or vendors quickly through a rigorous validation process.

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