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Five years of of innovation

The insights of over 250 clients

40 iterations

All of this has led us to IdentityMind 2.0. We’re very proud to be here, launching a new generation of AML transaction monitoring.

And, we’re excited to tell you about it.

Our compliance and risk management knowledge, marketplace experience, and conversations with clients made it clear that expanding our platform’s risk-based approach would be an important focal point for our next release. For starters, regulators have been advocating for a risk-based approach as a way to improve results in the US and internationally. But a risk-based approach also benefits our clients by reducing compliance costs and improving their customer’s experience.

This became the centerpiece of 2.0 as we built a dynamic, contextual and transparent platform. And with that focus in mind, we ensured that our platform used a risk-based approach. As a result, we know it has better accuracy, and faster decisions on alerts.

So, let’s take a peek.


A risk-based approach means that organizations apply risk mitigation techniques that match identified risks. By adjusting the level of scrutiny applied to a user or transaction based on their individual risk levels, compliance teams can focus their attention on suspicious users or transactions.

This approach allows companies to focus their resources on the highest risk areas instead of running everyone through the same set of checks. The result is improved operational efficiency and cost savings. It also improves customer experience for their good customers by providing the level of due diligence required based on their risk level.


Dynamic systems are ones that adjust. However, when looking at how risk is handled in typical KYC systems, we see that it is relatively static. That is, there is an event that leads to a KYC check, and the KYC level applied to the user remains fairly static from that point on. Dynamic modeling recognizes that users change and evolve over the course of time, and the risk level assigned when you first meet them only reflects that point in time. IdentityMind takes a dynamic/ continuous approach to KYC that learns more about users the more interactions it has with them, and evolves their risk profile to match.


Contextual means that an identity is more than just the sum of their transactions and personal attributes. Outside factors are also connected. Attributes such as country of origin, people they know and interact with etc., also affect their risk profile. IdentityMind takes these attributes into account, comparing identities, evaluating the risk of each. Because the system can consolidate a broad range of signals and orchestrate its analysis into a consistent model, the result is more accurate risk assessment.


It is important to know how your system arrived at a decision, however, many AML systems are black boxes. They don’t give you a view into the decision process. IdentityMind, on the other hand, provides you with the transparency to see how decisions were made. This is an important piece of information for auditors should they choose to review your process and results.

Our clients were instrumental in helping us understand what functionality they needed for operational efficiency, as well as sharing what the regulators were asking of them, and how we could best support them. Martin Kopacz, Chief Compliance Officer of Xapo said, “We have been using the IdentityMind platform since we started our operations. It provides the needed services for implementing a KYC and AML cost-effective, risk-based approach worldwide. The IdentityMind team has demonstrated commitment to our team by working on specific features that meet our operational needs.”

Learn more about Version 2.0

If you would like to learn more about IdentityMind 2.0, you can watch our webinar “IdentityMind 2.0: How our Clients Helped us Shape Transaction Monitoring” on demand. You can also read the datasheet on 2.0, and if you would prefer to speak to someone please get in touch by email.