Choosing Your Verification Partner: Cobalt vs Middesk vs Trulioo

Business verification isn't one-size-fits-all. Different lenders have different requirements—some need deep U.S. Secretary of State data, others need global coverage, and some want a full identity platform. Understanding how Cobalt, Middesk, and Trulioo differ helps you choose the right tool for your specific underwriting needs.

This best business verification API comparison breaks down the key differences so you can make an informed decision based on your actual requirements, not marketing claims.

The Quick Comparison

Feature	Cobalt	Middesk	Trulioo
Primary Focus	Direct SOS data	Business identity platform	Global identity verification
U.S. Coverage	All 50 states + DC	All 50 states	U.S. + 195 countries
Data Source	Live from state websites	Registry + proprietary data	700M+ business entities globally
UCC Liens	11 states	Yes (search + filing)	Limited
Screenshot Proof	Yes (timestamped)	No	No
Response Time	1–3 sec (cached), 7 sec–2 min (live)	Sub-second to minutes	Sub-second to minutes
Best For	Lenders needing live SOS data	Full KYB platforms	Global/multinational operations

Cobalt Intelligence: Direct-to-Source SOS Specialist

Cobalt focuses specifically on Secretary of State verification with a direct-to-source approach.

Core strengths

Live data, not databases: Cobalt queries state websites directly rather than relying on cached databases. When you need to know if a business is active right now—not 30-90 days ago—live queries eliminate the staleness risk that comes with aggregated data.

Timestamped screenshots: Every verification includes a screenshot of the actual state website result with timestamp and source URL. This creates visual audit evidence that's difficult to dispute—the screenshot shows exactly what the state website displayed at the moment of verification.

Flexible response modes: • Cached mode: Returns results in 1-3 seconds using recent data • Live mode: Queries the state directly, 7 seconds to 2 minutes depending on state • Waterfall: Tries cache first, falls back to live if no recent result

UCC lien data: Direct UCC searches in 11 states, with exact legal entity name matching to ensure accurate results.

Limitations

U.S. only: No international business verification Focused scope: SOS data is the core product—broader KYB features require integration with other tools State variation: Some states (especially Delaware) have limited publicly available data

Best fit

Lenders who need: • Definitive, real-time entity status verification • Visual proof for compliance documentation • UCC lien searches for secured lending • Direct-to-source data rather than aggregated databases

Middesk: The Business Identity Platform

Middesk positions itself as a comprehensive business identity platform with multiple verification products.

Core strengths

Broad coverage: Middesk claims direct connections to every Secretary of State office, the IRS, and hundreds of state, county, and city agencies. Their platform can verify 100% of registered U.S. businesses.¹

Signal scoring: In October 2024, Middesk launched Signal, a scoring product that provides instant risk assessment across three categories: Identification (who is this business), Verification (is this business legitimate), and Evaluation (what is the risk).²

Credit assessment: Middesk offers integrated credit assessment including UCC lien search, filing, and termination—a full lifecycle solution for secured lenders.

Address risk insights: The platform identifies high-risk addresses including registered agent locations and virtual mailboxes, helping detect potential fraud indicators.³

Web analysis: Middesk analyzes business websites to verify consistency between submitted information and online presence, evaluating website quality as an indicator of business legitimacy.

Limitations

Platform approach: Broader feature set may include capabilities you don't need Aggregated data: While they claim direct connections, some data comes from aggregated sources No screenshot proof: Verification results don't include visual evidence from source websites Pricing complexity: Multiple products with separate pricing can complicate cost projections

Best fit

Organizations who need: • A comprehensive business identity platform • Integrated credit assessment and lien filing • Risk scoring and fraud signals • Dashboard-based workflow management

Trulioo: Global Identity Leader

Trulioo focuses on global identity verification with strong international coverage.

Core strengths

Global scale: Trulioo covers 195 countries with access to 700 million business entities worldwide.⁴ For lenders with international borrowers or cross-border operations, this coverage is essential.

Combined KYC/KYB: 66% of Trulioo customers use the platform for both person verification (KYC) and business verification (KYB) in a single workflow.⁵

Fresh data: Trulioo refreshes business data up to four times daily, ensuring relatively current information.⁶

Language support: Support for 40+ languages and 14,000+ document templates enables verification in markets with complex local requirements.

Watchlist screening: Integrated screening against 6,000+ watchlists for sanctions and PEP checks.

Limitations

Global focus: U.S.-specific features may be less developed than specialists Complexity: Enterprise-scale platform may be overkill for domestic-only lenders Pricing: Enterprise pricing typically requires custom contracts Less SOS depth: May not provide the same level of direct state-source data as specialists

Best fit

Organizations who need: • International business verification across multiple countries • Combined KYC and KYB in a single platform • Multi-language support for global operations • Enterprise-scale identity verification

Decision Framework: Which Is Right for You?

Choose Cobalt if:

✓ You're a U.S. lender focused on domestic business verification ✓ Real-time, live SOS data is critical to your underwriting ✓ You need timestamped screenshots for compliance documentation ✓ You want direct-to-source data rather than aggregated databases ✓ You're doing secured lending and need UCC lien searches ✓ You prefer a focused tool over a comprehensive platform

Choose Middesk if:

✓ You want a full business identity platform with multiple products ✓ Risk scoring and fraud signals are important to your decisioning ✓ You need integrated lien filing and credit assessment ✓ Dashboard-based workflow management suits your team ✓ Web analysis and address risk insights add value ✓ You prefer a single vendor for multiple KYB needs

Choose Trulioo if:

✓ You operate internationally and need global coverage ✓ Combined KYC and KYB in one workflow is valuable ✓ Multi-language support is essential ✓ You're verifying businesses across multiple countries ✓ Enterprise-scale identity verification is required ✓ Watchlist screening integration is important

The Hybrid Approach

Many lenders use multiple verification providers for different purposes:

Common combinations:

• Cobalt + KYC provider: Use Cobalt for live SOS verification and screenshots, pair with a KYC provider for individual identity verification

• Middesk + specialized UCC: Use Middesk for general KYB, add a specialized UCC provider for states with complex filing requirements

• Trulioo + domestic specialist: Use Trulioo for international verification, add a domestic specialist like Cobalt for deeper U.S. SOS data

The right combination depends on your borrower profile, geographic focus, and compliance requirements.

Key Questions to Ask

When evaluating any verification provider, get specific answers to these questions:

Data sourcing

• Where does your business data come from? • How often is it updated? • Do you query state sources directly or use aggregated databases? • What's your coverage for [your specific states/countries]?

Verification proof

• Can you provide screenshots or visual evidence of verification? • What audit documentation is included with each verification? • How long are verification records retained?

Pricing

• What's the per-verification cost? • Are there volume tiers or minimum commitments? • Which features are included vs. add-on pricing? • What's the total cost for my expected volume?

Integration

• What's the API integration timeline? • Do you offer sandbox/testing environments? • What support is available during integration? • What's your uptime SLA?

Specific capabilities

• What UCC lien coverage do you offer? • Can you provide officer/beneficial owner data? • What's your response time for [my priority states]? • How do you handle entities not found in state databases?

Making the Decision

The "best" verification provider depends entirely on your requirements:

If live SOS data and visual proof matter most: Cobalt's direct-to-source approach and timestamped screenshots provide evidence that aggregated databases can't match.

If you want a comprehensive platform: Middesk's breadth of features—from verification to credit assessment to lien filing—simplifies vendor management.

If you operate globally: Trulioo's international coverage and multi-language support are essential for cross-border verification.

For many U.S.-focused lenders, the question isn't "which one" but "which combination." A Cobalt subscription for live SOS verification plus a broader platform for additional KYB features often provides the best of both worlds.

To explore whether Cobalt's direct-to-source approach fits your needs, see how lenders calculate the ROI of primary source verification.