At Middesk, our mission is to make it easier for businesses to work together by providing instant access to the data, documents, and insights needed to onboard and transact in the global economy. Today, we're excited to introduce our latest innovation: Signal. This new product was designed to provide instant insights for businesses on their prospective customers with a score-based approach that helps qualify the identity, legitimacy, and risk profile of potential customers.
Why Signal?
Having quick and accurate insights into the legitimacy and risk profile of a business means the difference between onboarding the right business, onboarding a bad business, or missing the opportunity to work with that business altogether. Kyle Mack, Middesk CEO and co-founder, sums it up perfectly:
“The speed, accuracy, and affordability of Signal is a fit for businesses looking for a solution that can be run across the entire customer lifecycle. Our earliest partners have been most excited about using Signal at the top of the funnel, to get an instant lightweight glance at prospects. As a result, they save time and money, increase profits, and grow relationships with the right businesses.”
Signal is designed for use cases with high application volume that require a lightweight, cost-effective solution that can be run at the top-of-funnel. The most common use cases from our earliest customers include digital marketplaces onboarding new vendors, and payment platforms filtering out businesses that do not meet requirements.
Fast, Accurate, and Affordable Insights
Signal was built to provide our customers with the flexibility to tailor data fidelity to their specific needs and acquisition goals. When customers hit the Signal API, it returns a score alongside a variety of different reasons that explain the score. Signal uses a variety of reason codes that are categorized into three main groups: Identification, Verification, and Evaluation. For example, Signal can return information such as whether the business has an active registration with a Secretary of State or if the business is an LLC or Non-profit.
Here are the top 5 most common data points used to inform the Signal score:
- The business has or has not filed for bankruptcy
- The business was formed more or less than 2 years ago
- The business is or is not registered with a state
- The submitted address is or is not a registered agent address
- There are or are not OFAC or sanctions results for the business
These reason codes help businesses quickly and effectively evaluate potential customers, ensuring that you can make informed decisions every step of the way.
Tailored Solutions for Your Needs
We know that every business is unique, and Signal is designed to offer the flexibility you need. Customize the level of detail and type of data you retrieve to optimize your processes and achieve your acquisition goals more efficiently.
Get Started with Signal
We’re thrilled to see how Signal will transform your business onboarding processes. Ready to experience the difference? Contact our sales team to learn more.
