How does Entity Verification API compare to Bank Verification?

Moody's Entity Verification API provides real-time access to comprehensive entity data from over 200 countries, sourced from national registries and company databases. This solution streamlines the Know Your Business (KYB) process by delivering up-to-date information on more than 500 million global companies, aiding in compliance with anti-money laundering (AML) and anti-corruption regulations. By integrating this API, organizations can enhance their compliance workflows, reduce manual efforts, and ensure accurate business verification.

iDenfy's Bank Verification service is designed to verify customers' bank account details accurately and securely. This service ensures that the submitted bank account information corresponds to the individual or business being verified. By integrating this verification step into the onboarding process, businesses can prevent fraud and enhance the reliability of their financial transactions. The service is particularly beneficial for industries that require secure payment processing or fund transfers.

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Moody’s is a globally recognized integrated risk assessment firm best known for its credit ratings, research, and analytical tools in the financial sector. Founded in 1909 by John Moody, the company has grown over the past century to become one of the “Big Three” credit rating agencies, alongside Standard & Poor’s and Fitch Ratings. Moody’s provides ratings, insights, and risk analysis that inform and guide investors, financial market participants, and policymakers around the world.

At the core of Moody’s offerings are its credit ratings—an evaluation of creditworthiness that measures the likelihood that a borrower (such as a corporation, government, or structured finance entity) will be able to meet its debt obligations. These ratings, expressed through a standardized alphanumeric scale (ranging from Aaa for the highest-quality obligations to C for those in default), help inform lending decisions, influence interest rates, and shape investor perceptions. They are often required by regulatory bodies and are considered an essential component in global capital markets.

Moody’s also provides a wide array of research, data, and analytic tools to support risk management, portfolio analysis, and strategic decision-making. Through its subsidiary Moody’s Analytics, the firm delivers software solutions, economic data sets, quantitative models, and advisory services. These offerings support customers in areas ranging from credit risk measurement, stress testing, and regulatory compliance to supply chain management and environmental, social, and governance (ESG) assessments.

Another critical function of Moody’s is its role as a thought leader. Its analysts regularly publish sector research, market outlooks, and special commentary on emerging economic and financial trends. These insights help shape market discourse and policy debates on issues ranging from global debt sustainability to climate risk and systemic financial vulnerabilities.

iDenfy, founded in 2017 and headquartered in Kaunas, Lithuania, is a technology company specializing in identity verification, fraud prevention, and compliance solutions. Their platform assists businesses in adhering to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations by transforming customers' smartphones or computers into identity scanning terminals equipped with facial recognition capabilities.

The company's services encompass a range of verification processes, including address and business verification, proxy detection, fraud scoring, and sanctions screening. By supporting over 1,300 types of identity documents across 200 countries and territories, iDenfy enables organizations to reduce risk and minimize fraud in online transactions.

iDenfy's solutions cater to various industries, such as fintech, blockchain and cryptocurrency, gaming, and the sharing economy. Their innovative end-to-end fraud prevention ecosystem is designed to detect and prevent cybercrime in real-time, ensuring AML and KYC compliance for businesses of all sizes.