Overview

The Business Classification Report (beta) classifies a given business into their industry (or industries), with NAICS code, based on business name and website.

The report relies on real-time scraping of a provided website to determine the business's primary activities. Organizations can use the report to also flag high-risk industries based on factors such as reputational risk, fraud risk, legal risk, etc.

Why is this report type valuable?

Knowing the industry in which a business operates is crucial for various aspects of customer onboarding, underwriting, and monitoring. Often times, customers have compliance requirements for doing business with certain high-risk and regulated industries. For some customers, they want to outright decline businesses that fall in any of these categories.

What information does this report provide?

The report provides a list of Industry Classifications and the NAICS Code if applicable. The North American Industry Classification System (NAICS) is the standard used by federal agencies for the purpose of collecting, analyzing, and publishing statistics related to the U.S. business economy.