Avox, a DTCC subsidiary that maintains business entity reference data, has launched several APIs to improve access to its database. Avox maintains business entity identifiers, legal names, addresses, industry classifications and other data. Prior to the API release, Avox provided access to such data via end-of-day delivery or a Web portal. Avox conducts the behind-the-scenes collection, inspection and improvement of business entity data, so customers can quickly and easily retrieve quality data.
"We recognize that our clients require high standards of data accuracy and completeness, and now more than ever the timeliness of updates is critical," Avox managing director Mark Davies said in an article. "This release is a critical step to help our clients to achieve their aim of much needed STP in the sourcing and ongoing maintenance of legal entity data."
While the API provides programmatic access to Avox's entire database, the work conducted to maintain and improve the database requires massive manpower. More than 400 analysts manually collect, collate, cross-reference and continually update the Avox database. Unfortunately, a human check is still required to achieve a quality database. However, Avox's data quality is top notch, which makes API access to its data so attractive, according to the company. To keep up with the ever growing database that now covers 1.7 million entities has required a 100% increase in analyst head count over the past two years.
Avox's API strategy provides customers with a simple request/response procedure to obtain needed data. Customers no longer must log in to a Web Portal or wait until the end of a day for delivery. The API provides direct transfer of data into existing applications and workflows. For those with a need to retrieve business entity data on a consistent basis, check out Avox and its new API services.