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Simplify the process of opening commercial bank accounts
Accelerate customer onboarding with the data and documents required for automating Know Your Business (KYB) compliance
reduce risk and onboard customers faster
The Problem
Opening commercial bank accounts is slow and inefficient. Relying on your customers for proof of documentary verification makes it a challenge to onboard new clients, especially in today’s environment.
The Solution
Middesk provides real-time access to the data and documents required for automating KYB and CIP regulatory compliance, mitigating front and backend risk.
Driving Impact
Digital account opening
Start the customer journey on the right foot by reducing friction and modernizing the onboarding process for new commercial accounts
Onboarding at scale
Minimize reliance on manual processes, allowing your team to focus on what’s most important—onboarding the right commercial customers, faster
Modern approach to risk
A holistic product experience allowing you to effortlessly implement the best practices from industry leaders in financial services
Middesk has 100% coverage of all businesses registered with any of the 50 Secretary of States
Solving problems
Identify your customers
Identity is an automated non-documentary verification tool, ensuring that you know who each of your customers are
Screen for sanctions
Watchlists allows you to automate Customer Due Diligence requirements by screening OFAC and other government watchlists
Validate beneficial owners
People helps you to understand more about the relationships between a business and its ownership
Automate formation documents
Documents automatically sources the supporting evidence you need for customer identification program (CIP)
Determine nature of business
True Industry provides an accurate perspective into what each of your customers do, make, or sell