Building a product that makes a meaningful difference for our customers is what brings us into the office every day. And, of course releasing our work gets us even more jazzed. Our latest release of the IdentityMind platform (v1.34) is out. It introduces new features to facilitate smoother money-laundering detection and identity proofing.

AML Transaction Monitoring

AML Transaction Monitoring is a core piece of our compliance capabilities. The new AML Transaction Monitoring features arm compliance Analysts with quicker ways to hone in on problematic transactions or users and better visualise flagged transactions against the context of a user’s past behavior, while also allowing Analysts to gain better overviews of transaction monitoring activities as a whole. They help to improve your Analysts’ speed and accuracy, while also increasing investigatory detail consistency between junior and senior Analysts.

In release 1.34:

  • The new Active Alerts widget, part of the ongoing redesign of AML Transaction Monitoring, provides a more a user-centric view of alerts. Analysts can now use the Active Alerts widget to list the users and source transactions that they need to evaluate based on the triggered alerts.
  • We have redesigned our Analyst UI to provide a more a user-centric view of alerts. We have added new graphs, available through the Transaction History widget, to help analysts quickly find abnormal activity, and see it split into deposits and withdrawals.

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  • The new UI lets you add notes to individual transactions, capturing investigation notes and updates.
  • The AML Report provides an auditor-friendly, high-level summary across all transaction monitoring activities including operational insights on alert investigations, like severity distributions and alert types.

Document Verification

Document Verification is an important part of the KYC process. As part of the KYC process it serves to help with identity proofing, and ultimately contributes to higher quality user analysis, reducing processing times and costs.

In release 1.34:

  • We have added a step to check image quality into our document verification process. Now, when a document is uploaded through our API or user interface, the image resolution and size are checked before a document is accepted. Users receive real-time feedback after uploading an image, which reduces drop-off rates and improves document verification rates.
  • Document Verification capability has been added to our KYC plugin for ICOs. Users can upload their ID/ driver’s license/ passport in addition to a selfie. Image quality is also assessed here.

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These features are available to customers using our AML and KYC capabilities. If you are a customer and have questions about these features, please contact the support team here. If you are interested in these features, contact the demo team to get started.