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Mar 25, 2024

Middesk Named to Forbes Fintech 50 List and Liminal’s Industry Leaders in Business Verification

Kyle Mack
Co-Founder and CEO

We’re proud to share that, for the first time, Middesk has been named to Forbes’ Fintech 50 List for 2024 and in Liminal’s Link Index Report on Business and Entity Verification in Financial Services. Middesk rivals legacy databases through direct connections to primary government data sources, providing businesses with instant access to the information required to evaluate and onboard another business.

Each year, Forbes evaluates hundreds of fintech startups to identify leaders in growth and innovation, considering factors such as product novelty, customer and revenue growth, and headcount expansion. This year’s report cited notable growth and innovation in fintech, despite widespread layoffs, lower valuations, and a sharp decline in venture capital funding. More than 50% of the selected companies were in B2B categories. Forbes notes the significance of the opportunity: “Business is booming for the startups serving Wall Street’s big banks and financial institutions nationwide… with more cash at stake than ever, banks and fintechs are doubling down on keeping scammers away and keeping up with advances in artificial intelligence.”

Liminal, the leading expert in digital identity and cybersecurity, with clients ranging from Stripe, Square, and Airbnb, recognized Middesk as a leader in the Business and Entity Verification vertical, offering a configurable platform that helps companies manage risk and compliance effectively at scale to establish trust with customers. The report highlights several of our key market differentiators, including:  

  • Comprehensive coverage: Our direct access to U.S. government databases provides the most recent and accurate data about a business, including legal name, address, taxpayer identification numbers, court filings, adverse media, and watchlist screenings, and we partner with best-in-class KYC solutions to verify the identities of ultimate beneficial owners (UBOs) and other associated people. 
  • High level of automation: We offer one of the most automated solutions in the space, providing API solutions that reduce the need for manual intervention. As a result, customers are able to accelerate the onboarding process, reduce user friction, and approve more business applications with confidence.
  • Adaptable and configurable API: Our platform is designed to streamline compliance decisions and adjust to meet unique customer needs. Workflow and policy tools enable customers to maximize the efficiency of internal reviews, build custom rules, and monitor customers for ongoing compliance.

Despite a challenging year for the industry, we celebrated a strong close to 2023 at Middesk, and are incredibly excited to be included in both Forbes’ and Liminal’s reports. Check out the Forbes Fintech 50 2024 here to see a list of the other innovators (and Middesk customers!) in fintech, and the Liminal report here

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