G2 Business Classification scans business customer portfolios — both online and offline customers — and provides a NAICS code and description for each business customer. G2 highlights business customers that correspond with a high-risk NAICS code list, which can be customized based on the needs of your organization.
Correct errors in NAICS lists, terminate prohibited businesses and investigate inactive websites based on the report findings.
Improve your understanding of the types of business customers in your portfolio, segment them according to risk level, and apply the appropriate processes to manage them.
Reallocate personnel that may be collecting this information manually today to more strategic functions.
Demonstrate a standard classification to examiners and auditors, and
provide proof of an independent third party review of the NAICS codes in
Before, I had someone on my team who literally every day reviewed all of the NAICS codes on newly onboarded business customers to make sure we’re confident they’re accurate. We would correct them when appropriate. So certainly a more automated fashion of doing this has been helpful.Bank with $27B in assets