IdentityMind Global, today announced a partnership with White Wings Technologies to deliver an integrated platform for Money Service Businesses (MSBs). The partnership matches money transfer with risk and compliance capabilities that leverage IdentityMind’s Trusted Digital Identity technology.
MSBs are focused on helping their customers transfer money, with a minimum of friction, between family and friends within countries and across borders. That is one reason why MSBs have increasingly embraced the online channel. However, with the move to online comes progressively complex operations that involve assessing the risk of entities that the business often has never met, and compliance efforts across Anti-Money Laundering (AML) and Sanction Screening regulations. This is especially difficult under increased scrutiny from worldwide governments and in a post-Equifax world where static security tokens provide little if any security. IdentityMind’s Trusted Digital Identity technology (eDNA TM) helps MSBs more effectively assess risk and run compliance processes, while also developing identity assets that they can use to continually improve their revenue-risk balance and their operational efficiency. For key MSB processes like KYC, IdentityMind platform provides access to 20+ data vendors through a single API for a broad set of normalized identity verification capabilities.
“IdentityMind has worked with MSBs around the world to help them tackle their risk and compliance needs,” said Garrett Gafke, CEO, IdentityMind. “We are happy to be working with White Wings to provide a comprehensive solution that runs from web presence through to operations and real time risk and compliance, so MSBs can get up and running quickly and effectively, and remained focused on their core business instead of the tech that supports it.”
“White Wings Technologies MTS department works exclusively with MSBs to automate and simplify branch operations located globally,” said Ayyaz Khan, CTO, White Wings Technologies. “We are happy to be partnering up with IdentityMind to shift the mindset from ‘identify-and-report’ to ‘detect-and-prevent’ for MSBs from in-person branch operations to web based operations. We are also confident that our Multifactor Authentication technology will drive down risk levels faced by MSBs and branches, globally.“
The joint solution will be available starting in October 2017.
About IdentityMind Global
IdentityMind is the Trusted Digital Identity (TDIs) company. We offer a SaaS Platform that builds, maintains and analyzes digital identities worldwide. Our Platform allows companies to perform identity proofing, risk-based authentication, regulatory identification, and ultimate detect and prevent synthetic identities, and stolen identities. We extend our Platform with transaction monitoring for e-commerce fraud prevention, anti-money laundering, and the counter financing of terrorism (CFT). We continuously validate and risk score digital identities worldwide through patented our eDNA™ technology to ensure global business safety and compliance at customer onboarding and throughout their lifecycle. Our Platform securely tracks the entities involved in each transaction (e.g. consumers and merchant onboarding, account origination, money transfers, online payments, etc.) to build a unique digital identity trust reputation. This reputation is anonymously shared between IdentityMind customers within IdentityMind’s global Identity Network.
For more information, visit: http://www.identitymindglobal.com
About White Wings Software
White Wings Technologies, inventor of MTS – Money Transfer Software, offers a SaaS Platform designed to simplify global automation & organization of MSB operations. White Wings Technologies MTS thrives on the basis of the following Critical Success Factors – Convenience, Speed, & Reliability. With state of the art backend logistics it enables MSBs to provide an experience of safety and assurance to consumers that transactions will paid and received effortlessly. White Wings Technologies is proud to announce partnership with IdentityMind to deliver convenience, security, and speed to MSBs from internal and external threats.
For more information, visit: http://www.mtssuite.com