InstantID® Business

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Verify the Business and its Authorized Agent…Without Awkward Pauses

Profitable decisions depend on truly knowing your customer. When you have a customer who is ready to open a business account or secure a loan, LexisNexis® InstantID® Business helps you quickly capitalize on the opportunity while reducing risk.

Through instant access to proven business content, stronger entity linking and advanced analytics, you gain a precise decisioning perspective to speed the onboarding process, reduce customer friction and maximize approval rates through an expansive and accurate view of the business and people associated with it. You will quickly be alerted to “red flags” that warrant further inquiry.

Capitalize On Powerful Performance

InstantID® Business gives you the competitive advantage of next generation business verification. By combining the reach of more than 10,000 data sources with the intelligence of industry leading linking capabilities, you gain the ability to:

  • Access 25% more U.S. businesses, including  hard-to-access small and new businesses
  • Increase auto-verifications by 20%
  • Improve the connection between a business and a person by 30%

Now is the time to put the power of superior verification to work for you to enable real-time decisioning, manage complex fraud and identity rules and sidestep hidden risk. InstantID® Business offers a precise business decisioning perspective that increases focus on your core business goals.

InstantID Business is available via XML and batch, and online via LexisNexis® AML Insight™, LexisNexis® Risk Management Solutions® and the LexisNexis® Dynamic Decision Platform. For verification of individuals, see LexisNexis® InstantID®. 

Benefits

Advance the Identification of Valuable Customers

InstantID® Business quickly verifies the identity of a business applicant by leveraging unmatched business content, sophisticated entity linking and advanced analytics. With a combination of significantly improved linking, market leading data quality and robust alternative data assets, you not only auto-verify more businesses, you also achieve it without unnecessary friction.

Verify the Identity of a Business, The Person(s) Associated With the Business and Find Hidden Connections

Simplify verification requirements by assessing up to five authorized representatives associated with the business for a broader understanding of a business and its key people.

Increase Approval Rates and Grow Your Business

Connect to detailed intelligence on both the business and the authorized representatives behind the business to easily evaluate risk, automate approvals and capture new opportunities to expand your portfolio.

Accelerate Manual Reviews and Exceptions Processing With Lower Cost and More Simplicity

Attain precise insight with flags and reason codes that highlight specific areas of concern, increasing decision clarity and consistency.

Reduce Documentation Requirements From Customers

Proactively identity risk and enable more confident approvals while safeguarding the customer experience and removing time-consuming documentation and unnecessary friction and delays.

Standardize Decisioning Processes With Detailed Verification Indices

By delivering concise, easy-to-interpret results in a 0-50 risk verification index, InstantID® Business helps streamline approvals and eliminate variances. Moreover, it summarizes the source in which the subject was verified and the source count.

Build Consistency Between Front- and Back-End Account Workflows

Auto-verify more businesses and create a more seamless workflow.

Features

By combining robust commercial content that includes business names, locations, FEINs and firmographics with the renowned reach of LexisNexis® Risk Solutions consumer content, InstantID® Business represents one of the most powerful small business-to-authorized representation verification tool available in the market today.

Available on the LexisNexis® Dynamic Decision Platform, InstantID Business can be built into onboarding workflows to incorporate different levels of verification and fraud mitigation. With an easy-to-use, intuitive API and self-service decisioning to enable customer scoring based on your business logic and risk objectives/constraints, the platform empowers continually improved risk decisioning.

The LexisNexis® Dynamic Decision Platform also supports multiple product policies, and provides advanced forensics investigation capability with sophisticated analyst UX.

InstantID Business helps you boost onboarding speed and capitalize on growth opportunities with all these features:

  • Leverages more than 10,000 proprietary and public data sources to link people and business entities
  • Covers 25% more businesses than any other provider—including more small/new businesses
  • Contains built-in intelligence, detects mis-keyed/incomplete information and corrects it on the spot, reducing false positives
  • Provides a Business Verification Index (BVI) that ranks risk propensity (0-50); completes watchlist checking; and flags other risk indicators (e.g., invalid phone number, SSN of deceased person)
  • Offers an Authorized Verification Index that ranks risk propensity (0-50); completes watchlist checking; and flags other risk indicators (i.e., SSN of deceased person, invalid phone number)
  • Highlights relationships between the business and its authorized representatives
  • Compares input data against verified data and presents any supplemental data that was found

Want to know more? Download our LexisNexis® InstantID® Business brochure.

Get it now: For more information about InstantID Business, call 1-408-200-5755.

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The InstantID Business services are not provided “consumer reporting agencies,” as that term is defined in the Fair Credit Reporting Act (15 U.S.C. § 1681, et seq.) (“FCRA”) and do not constitute “consumer reports,” as that term is defined in the FCRA. Accordingly, the InstantID Business service may not be used in whole or in part as a factor in determining eligibility for credit, insurance, employment or another purpose in connection with which a consumer report may be used under the FCRA. Due to the nature of the origin of public record information, the public records and commercially available data sources used in reports may contain errors. Source data is sometimes reported or entered inaccurately, processed poorly or incorrectly, and is generally not free from defect. This product or service aggregates and reports data, as provided by the public records and commercially available data sources, and is not the source of the data, nor is it a comprehensive compilation of the data. Before relying on any data, it should be independently verified. InstantID is a registered trademark of LexisNexis Risk Solutions FL Inc. Other products and services may be trademarks or registered trademarks of their respective companies.