Baselayer provides an automated platform for Know Your Business (KYB), risk assessment, and fraud management, utilizing real-time data validation and predictive modeling to enhance business verification processes. The platform addresses inefficiencies in manual reviews and the risk of overlooked fraud indicators, enabling financial institutions to streamline operations and reduce potential losses.
Funding
$20M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions face challenges in efficiently verifying businesses due to time-consuming manual reviews, the potential for overlooking fraud indicators, and incomplete business records from disparate sources. These inefficiencies increase operational costs, delay verification processes, and elevate the risk of financial losses.
Solution
Baselayer offers an automated platform designed to streamline Know Your Business (KYB), risk assessment, and fraud management processes. The platform aggregates and validates business identity data in real-time, providing comprehensive insights to enhance verification accuracy. By automating manual review processes and leveraging predictive modeling, Baselayer enables financial institutions to identify potential risks and fraud more effectively. The platform's monitoring capabilities also allow for continuous assessment of portfolio health, ensuring proactive detection of fraud, churn risk, and credit stacking.
Target Audience
Baselayer primarily targets financial institutions, lenders, and businesses requiring robust KYB, risk assessment, and fraud management solutions.
Features
- Instant verification for businesses using state secretary validation, IRS/EIN matching, and sanctions screening (OFAC, PEP).
- Detection of business officers and registered agents.
- Risk assessment based on industry, legal history, and web presence analysis.
- Advanced fraud solutions to detect banned borrowers and synthetic identity creators.
- Manual review automation to pinpoint businesses requiring attention.
- Portfolio monitoring for real-time updates on fraud, churn risk, and credit stacking.
- Customizable toolkit with individual solutions for Fraud, KYB, Risk, and Portfolio Monitoring systems.
- Predictive models to enhance operations with each new business onboarded.
- SOC 2 Certified Systems ensuring adherence to industry best practices and data security.
- Developer-centric API for integration into existing environments.