Automate Industry
Classification with
Precision
Improve approval speed and reduce risk with consistent,
AI-powered industry classification.
Faster Processing.
Accurate
Underwriting
Lending institutions rely on accurate industry classification for risk and compliance, but manual methods are slow, inconsistent, and hard to scale. HyperVerge’s AI-driven engine transforms fragmented business data into reliable SIC/NAICS codes for faster, smarter decisions.
Key Challenges in Industry Classification
for Small Business Lending
For small business lenders, accurate industry classification is essential for risk assessment, compliance
and portfolio management, but the process is often manual, time-consuming, prone to errors
and inefficient at scale
Classifying businesses into SIC/NAICS codes is manual and slow
Research is error prone given subjectivity in names, websites, addresses, etc.
Limited online presence & inconsistent data lead to misclassification
The Solution: AI-Powered Industry Classification
Our intelligent small business lending solution harnesses the power of generative AI to
automate and refine the process of industry classification
Accurate SIC/NAICS Code Mapping using an AI-driven approach using multiple datapoints
Automated Data Extraction from online sources and transactional data
Enhanced Matching Capabilities for businesses with limited online presence
What Our Customers Say
Real outcomes from lending teams using HyperVerge to
speed up underwriting without losing control of risk.
"We were not buying software. We were optimising one of the most important steps in our funnel.
Working with HyperVerge felt like a partnership from
the get go - from spending time understanding our
challenges, sitting down with teams to codify the tribal
knowledge and tailoring the output to exactly suit our
needs. The outcome: 80% productivity improvement
for background checks."
"HyperVerge is a key partner in Breakout’s journey to
provide a seamless experience to our ISO partners and
borrowers. HyperVerge's solutions now enable our
partners to seamlessly configure and select the best
offers based on borrower needs. For us, this means
clearer communication, faster decisions, and improved
take rates."
"HyperVerge has been a great AI partner in helping to automate parts of our pre-underwriting workflows
and drive efficiency in our application funnel.
They delivered the business impact within a short span
of time, making them a dependable partner to work
with."
“HyperVerge helped us make application intake cleaner and more reliable, with 95%+ straight-through automation.
We were impressed by their innovation on challenges like reading ‘watermarked’ apps and bank statements where most other solutions struggled. This has helped underwriters spend more time actually underwriting, instead of manually entering apps.”
Why is industry classification important for small business lending?
Industry classification is important for small business lenders as it helps assess risk, comply with regulations, and manage portfolios more accurately.
What data does your AI use for industry classification?
We use business names, websites, bank transactions, addresses, and online directories for our industry classification.
Can your system handle businesses with limited online presence?
We use advanced matching techniques and alternative data points to arrive at SIC/ NAICS codes of the businesses with limited online presence.