EQUIFAX B2BCONNECT IMPROVES COMMERCIAL MATCH RATES BY MORE THAN 30%
Commercial Data, B2bConnect
Unsurpassed data quality combined with flexible delivery lead to improved coverage for identity and fraud prevention partner.
Our partner’s innovative technology and expertise protects companies and their customers from payment and identity fraud. They deliver identity verification by gathering and analyzing data from multiple sources. With their recently launched commercial offering, our partner sought to assure clients that prospective small and mid-sized business (SMB) customers were legitimate before transacting.
However, their initial commercial match rates were mediocre, at best. Furthermore, their existing provider required an API interface, which caused several instances of service interruption due to spikes in request volume. They needed a scalable solution to eliminate downtime and assure millisecond response times. Such outages were unacceptable. Accustomed to industry-leading coverage on the consumer front, the company was in search of a new commercial data partner to help them achieve and maintain greater accuracy. Moreover, they wanted complete control over data delivery.
A Source of Truth for Business Identification
To strengthen and grow their commercial business, our fraud prevention partner needed better and consistent coverage across the SMB ecosystem. After a competitive bid, they licensed the Equifax B2bConnect™ data file to leverage as their “source of truth” for business identity.
Our B2bConnect™ data file, which houses more than 53 million records in the U.S., is used for marketing, customer and supplier data management, and analytic and fraud capabilities. It includes firmographic information — such as business names, addresses, industry coding, revenues, and number of employees — in addition to commercial credit scores. Equifax regularly analyzes the database to assess whether a business is marketable, active, or out of business.
High Quality Data and Customized Delivery
Our partner joined forces with Equifax because our B2bConnect file contains the best data across the board. They appreciated that we don’t just scrape websites to populate the file, resulting in less reliable data — a particular challenge with SMBs, many of which start and quickly fail or never get off the ground. Instead, we build the B2bConnect file by starting with trusted entities, such as the Secretary of State. Then, we reference our commercial risk file to identify hierarchies and other business associations. We can also cross-reference commercial data against our consumer file to reveal relationships between the two. We don’t accept a business into the B2bConnect data file unless we can corroborate it against three different sources.
When it came to how they received the data, our partner was understandably discerning. So our partner could maintain total control over client delivery, we set up regular bulk delivery of the B2bConnect file thus eliminating any issues with delays or outages.
Improving Coverage by More than 30%
With Equifax and our B2bConnect data file, our partner was able to improve coverage by more than 30%, resulting in increased client satisfaction. Our ability to offer the highest quality data in a flexible form of delivery at the right price resulted in an ideal partnership that has an opportunity for long-term, strategic expansion. By sharing data, both of our offerings improve, making us stronger together.
Our Commercial B2bConnect database includes over 53 million business records in the U.S. This unique data asset helps clients ensure the highest level of business identity verification and fraud prevention.
To learn more about how B2bConnect can help improve commercial match rates, reach out to firstname.lastname@example.org.