Verifying Corporate Data - Freemium Service

Corporate data verification is an optional service that searches for registered companies matching a third party, to help you confirm that you are dealing with the correct legally registered entity. 

This page describes how to verify third party corporate data if your platform is configured to use the Freemium verification service. Note that:

• The process is slightly different if your platform uses the Open Corporate service.
• Some platforms may be configured to use auto-verification.

To verify third party corporate data:

These instructions can be used for both new and existing third parties - i.e. during the onboarding process or afterwards.

1. For existing third parties, go to the Third Party Profile and click  (top right) to open the profile for editing.
2. If you are in the process of onboarding a new third party, ensure that a minimum of Name and Jurisdiction have been entered.
3. If you have more information (e.g. part of the company's address or the URL of their website) then add it to improve the verification search results. Best possible search results are retrieved by entering the company registration number.
4. Go to the 'Verify Entity' section of the page and click Start verification:
   
5. Potential matches for your third party are listed. If the correct company has been found, select it using the checkbox on the left-hand side of the list.
6. At this point, you can choose from the following options:
   • Confirm
   • Confirm and get Premium Corporate Data
7. If you select Confirm, this will:
   • Update the third party name, address and jurisdiction so that they match the official details exactly.
   • Add the company's principal associate.
   • Add the company's registration number and/or website URL if these are available in the official records.
   • Set the third party's legal name and jurisdiction to 'read-only'.
   • Apply the 'verified data' stamp to the third party.
8. If you select Confirm and get Premium Corporate Data, this will do everything that the 'Confirm' option does and it will also add in-depth corporate data to the third party record (see Premium Corporate Data for details). Note that Premium Corporate Data:
   • Is chargeable and will use platform credits.
   • Can also be ordered after onboarding, in the same way as any other EB360 service. 
   • Is subject to ongoing monitoring, and will be updated if changes are detected (e.g. if the company directorship changes).
9. Click Submit to save the verified third party details.  

Improving the quality of the verification search results

If you do not see the company you are looking for, you can improve the quality of the search results by making sure that the third party name is entered as accurately as possible. Include any corporate suffixes, such as LTD, PLC, etc. It also helps to add any other information that you know - e.g. the company's address or the URL of their website.

If you know the company's registration number, entering this will give you the best possible search results.

Match confidence

Match confidence uses a scale of 0-10, where 10 is the highest level of confidence. To achieve a confidence score higher than 7, you will typically need to enter more than just the company name and jurisdiction. The following guidelines exist around match confidence scores:

8-10: Strong Match

There is a strong match on the name. Other supporting elements (e.g. address) may also have a strong match.

6-7: Good Match

There is slight discontinuity between name or address.

5: Name Match

There tends to be a strong match on name with a poor match on address.

4: Address Match

There tends to be a strong match on address with a poor match on name.

3-1: Weak Match

Although returned, it is more likely not to be a match.

See also:

•  Corporate Data Verification