True Industry Overview

The Middesk True Industry product is an enterprise-grade, scalable solution for discovering what every business makes and sells. With a single request or API call, True Industry retrieves the web presence of a business entity, extracts and analyzes its content, and leverages a proprietary machine learning model to determine the industry of a given business. The True Industry product also offers a user-friendly industry selection front-end tool for a streamlined onboarding experience.

True Industry provides a powerful industry classification solution for companies that require verification of business industry during onboarding, when underwriting a financial product, while conducting a compliance screening, or any number of other use cases.

The True Industry product takes as input the website of a business and generates a set of labels and prediction values that a customer can use to identify the main industries in which an entity operates. Some industries will be flagged as high risk, indicating the business may operate in a high risk or regulated industry.

True Industry reports can be created in one of two ways:

Manually via the dashboard for one-off classifications
Programmatically and automatically via the API

Running a True Industry report

True Industry enables customers to retrieve a set of label classifications and predictions about the industry of a business just by providing the website of the business.


Website	*required*	The website for a given business. Must be passed in order to classify industry.

Middesk can return any of the following responses

status	label	sub_label
*Success*	This business likely does not operate in a high risk industry	No Hits
*Failure*	This business may operate in the “X” industry	Hits

Results of a True Industry report

The True Industry product is a scalable, straightforward resource through which to classify the nature of an entity's business. Beginning with high risk and regulated industries and expanding to other non-regulated industries, the True Industry product allows customers to quickly and automatically flag entities that require additional review or consideration before engaging with the business more formally.

Today the output of a True Industry report is a set of prediction values for each industry in which the business may operate. Below are some examples of the industries that Middesk classifies today.

Category	Examples	High Risk
Cannabis	Manufacturers Distributors Dispensaries	True
Drug Paraphernalia	Drug Manufacturing Items for Drug Use	True
Adult Content	Pornography Dating Sites Pay-per-View Chat	True
Gambling	Casinos Online Gambling Fantasy Sports	True
Financial Aggregation	Factoring Payment Processors Crowdfunding	True
Money and Legal	Bail Bonds Collections Agencies Adoption Services	True
Virtual Currency	Initial Coin Offerings Digital Wallets Video Game Credits	True
Investment and Credit	Securities Brokers Lending Instruments Credit Repair	True
Regulated Products	Weapons / Firearms Tobacco and E-Cig Prescription Drugs	True
Gift Cards	Gift Cards	True
Counterfeit Goods	Companies with Fake Brand Name Goods Unauthorized Resellers	True
Multi-level Marketing	Multi-level Marketing Pyramid Schemes	True
Get Rich Quick	Companies Promoting High Yield Investment Opportunities or Services	True
Social Media Activity	Sale of Twitter Followers Sale of Online Traffic Sale of YouTube Views	True
Pseudo Pharmaceuticals	Nutraceuticals Products making health claims not approved by the FDA	True
Drug of Concern	Legal substance that provides the same effect as an illegal drug (e.g., salvia, kratom)	True
Utilities	Electric Power	False
Construction	Construction of Buildings Construction of Engineering Projects	False
Manufacturing	Mechanical, Physical, or Chemical Transformation of Materials, Substances, or Components into New Products	False
Retail	Retailing Merchandise	False
Car Dealers	Used and New Car Dealers	False
Clothing Stores	Stores Selling Clothing	False
Electronics and Appliances	Stores Selling Electronics Stores Selling Appliances	False
Jewelry Stores	Stores Selling Jewelry	False
Used Merchandise	Consignment Stores Vintage Stores	False
Real Estate, Rental, and Leasing	Equipment Rentals Apartments Property Management Companies	False
Professional Services	Accounting Advertising Consulting	False
Health and Social Services	Hospitals Clinics In-Home Care	False
Other Services	Car Repair Religious Activities Personal Care Services	False

If you have questions or requests about the next industries Middesk should support in its next product launch, don't hesitate to reach out to [email protected]!