Automated Tax & Credit Document Extraction
Context
Enhance Anti-Money Laundering (AML) checks and reduce failed transfers by reconciling commercial brand names with legal corporate identities.
Challenge
During international transfers, users frequently input a company’s commercial brand name rather than its registered legal name. This discrepancy triggers AML flags, causes manual intervention, or results in rejected payments by intermediary banks
Solution
The bizAPIs Brand Validation tool provides data linking commercial brands to their parent legal entities. When a user inputs a brand name, the API returns the associated legal name and tax ID, allowing for automated validation before the transfer is initiated.
Key Benefits
- Frictionless UX: Users can search by the names they know (brands).
- AML Accuracy: Ensures the recipient’s legal identity matches the account holder.
- Operational Efficiency: Significantly reduces the volume of “held” transfers requiring manual review.
Ready to move from data lookup to Identity Orchestration?
Implement bizAPIs Smart ID in your onboarding flow today.