- Slice of Finance
- Posts
- Backbase Partners with Middesk to Streamline Business Onboarding and Verification
Backbase Partners with Middesk to Streamline Business Onboarding and Verification
Slice of Finance Team
08 Oct
Key Highlights:
Backbase integrates Middesk's business identity platform to enhance Know-Your-Business (KYB) efforts.
Real-time data verification from multiple databases ensures legitimate business onboarding.
The partnership reduces fraud risk and meets regulatory requirements.
Banks and credit unions can create custom onboarding journeys with minimal technical work.
Available now to all Backbase clients and prospects.
Source: Business Wire
Notable Quotes:
“Businesses today want a seamless verification process that meets compliance standards while limiting delays during the onboarding process."
“By partnering with Backbase, we are proud to expand access to our business identity platform to help financial institutions make informed decisions with access to accurate and fresh data, updated in days rather than months.”
Our Take:
This strategic integration between Backbase and Middesk addresses the growing demand for more efficient and accurate business verification in the financial sector. As regulatory scrutiny intensifies, the ability to onboard businesses quickly, while ensuring compliance, becomes a key differentiator for banks and credit unions. Backbase and Middesk’s collaboration empowers financial institutions to streamline their Know-Your-Business processes, leveraging real-time data to reduce fraud risk and enhance customer experiences. This partnership exemplifies the industry’s shift towards more flexible, API-driven solutions that can scale with modern financial institutions’ needs.