A landscaping company applies for a business checking account. Three days later, they open one with your competitor.
What happened? They submitted "Green Thumb Landscaping" but they're registered as "GTL Services LLC." Your KYB provider saw a name mismatch and routed to manual review. By the time an analyst confirmed they're the same business, the customer was gone.
Your manual review queue is larger than it needs to be. Not because of fraud. Not because of risk. Because traditional KYB providers compare lines of text instead of understanding businesses.
Enigma KYB API changes that. Entity resolution that matches operating names to legal entities. SSN verification for sole proprietors. Principal identity checks. Address intelligence that catches fraud. We auto-verify submissions that other providers can't touch.
In customer evaluations comparing V1 to V2 of the Enigma KYB API:
Other KYB providers benchmark auto-approval at 50%. They check registered businesses against Secretary of State records. That's it.
Enigma delivers ~70% auto-verification because we go beyond SOS. We verify sole proprietors who file under SSNs. We match DBAs to legal entities. We connect operating names to state registrations even when the strings don't match.
It's not a marginal improvement. It comes from a fundamentally different approach predicated on understanding businesses.
Traditional KYB providers compare lines of text. Enigma understands businesses. Our entity resolution technology automatically connects:
The result: matches that others miss, at scale.
Auto-verification handles most submissions. But what about the rest?
Competing providers return pass/fail on basic datapoints (name, address, EIN, ownership) and leave analysts to chase down context from disparate sources. Enigma returns the complete business identity package:
Analysts become decision-makers, not data gatherers. The submissions requiring review get resolved faster because the context is already assembled.
According to the SBA, 82% of US businesses operate without employees. The vast majority are sole proprietorships. These businesses don't have EINs. They file taxes under their Social Security Number.
Until now, this created a verification dead end. No EIN meant no automated path. Rejecting all unregistered sole proprietorships means turning away the majority of American businesses.
The SSN verification task validates submitted SSNs against IRS records. For contractors, freelancers, gig workers, and consultants, this unlocks automated verification where manual review (at $20-50 per case) was previously required.
Business legitimacy isn't just about the entity. It's about who's behind it. The person verification task matches submitted names against officer records on Secretary of State filings, connecting business identity to human identity automatically.
For beneficial ownership requirements and fraud prevention, this adds a verification layer without manual investigation.
New address attributes surface risk signals that would otherwise require manual investigation:
Virtual address detection: A business claims headquarters at a UPS Store or Regus location. The virtual flag automatically identifies Commercial Mail Receiving Agencies. No analyst lookup required.
Deliverability validation: An applicant submits an address that doesn't exist or can't receive mail. USPS delivery point validation catches it before you send welcome materials to nowhere.
Residential vs. commercial: A "commercial trucking company" lists a residential apartment as headquarters. The rdi classification surfaces the mismatch for risk review.
These signals feed directly into decisioning logic. Fraud patterns that took analysts 15 minutes to investigate now resolve in milliseconds.
Identify: Business entity matching, address verification, data enrichment. For marketplace onboarding, SaaS customer verification, pre-fill workflows.
"Instacart" is registered as "Maplebear Inc." "Brooklyn Pizza" operates as "JPR Holdings LLC." A freelance consultant does business as "Sarah Chen Consulting" but files taxes under her SSN.
Verify: Everything in Identify + registration status, person verification, full audit trails. For compliance work in payment processing, lending, and business banking.
Both packages support add-ons: TIN verification, SSN verification, OFAC watchlist screening.
Check out the documentation to learn more.
Enigma KYB API integrates natively with Alloy, Taktile, Oscilar, and Hummingbird. Or integrate directly via REST API.
Contact our team to start the conversation.
Enigma KYB API: ~80% coverage, ~70% auto-verification rates, ~1 second response times. Entity resolution that matches operating names to legal entities across all 52 US jurisdictions.