Today we are launching Company Signals, a simple way to integrate data using an API that leverages our public data graph to provide unified, relevant, and timely intelligence about small businesses. By understanding the unique public data fingerprint of each company, Company Signals can help anyone who needs to reduce fraud through verification, improve a customer experience through better segmentation, or to differentiate their credit or insurance products.
Small and medium sized businesses are a critical part of the US economy, collectively making up 46% of the country’s GDP. As any small business owner will tell you, the ability to borrow money and access credit is essential to what they do. However, for banks and other lenders, it can be extremely difficult to judge the creditworthiness of any particular small business. This means that lots of people who would be great borrowers simply aren’t getting access to the capital they need. Why is this?
Consider the hypothetical case where two restaurants -- Saigon and Indochine -- apply for a line of credit. If you pull reports on these restaurants from any of the traditional data providers, you will find they are both categorized as Vietnamese restaurants, they both are located in fashionable downtown New York City neighborhoods, and have both been in business for more than 10 years. If you went a step further and looked at social data, you would see they both have 4-star Yelp reviews from several hundred people.
However, there’s much more to the story. Saigon has twice as many health inspection violations as Indochine does, an indicator which is often correlated to the quality of management. In addition, Indochine has filed an H1-B visa for an executive chef they are paying $137,000 per year. The beneficial owner of Indochine has several other businesses in New York -- each with their own profiles that can be considered -- and personally owns millions of dollars of real estate in Brooklyn. When you dig into it, public data can paint a much more nuanced picture of a firm than is commonly in use.
With the launch of Company Signals, this data can be unlocked at scale for the first time to help anyone who needs to understand small businesses better. To learn more about Company Signals and how it can help your organization build best-in-class products and customer experiences, get in touch.