Know Your

Customer (KYC)

Know Your Customer is a requirement in many senses of the word. You need to do it because the government tells you to, and you need to do it because the future of your business depends on it. After all, your business based on attracting and retaining more good customers. And, digital channels definitely provide you with access to more customers… more good and bad. The trick is being able to weed out the fraudsters and the stolen identities, synthetic identities, etc. that come with them.

The good news is that IdentityMind has a solution. An easy to deploy KYC solution that let’s you decide whether you want to trust the person on the other end of the transaction.

The ldentityMind platform provides you with an automated customer onboarding process supported by a global online identity verification service that allows you to verify customer data using multiple KYC onboarding tests, build and risk score digital identities to ensure AML compliance, combined with new account fraud prevention.

Our identity verification service API provides you with access to 20+ identity data verification vendors and multiple identity checks, from name and address verification through to ID document verification. Our eDNA technology leverages machine learning to not only build identities but to also analyze them for the most accurate reputation score (risk profile} possible. Plus, we enable you to modify your risk process on the fly, adding in additional KYC checks where merited, so you can show the good guys the fast lane and the bad guys the exits.

Use the ldentityMind platform as your main identity verification, fraud prevention and KYC compliance system or use our API to layer our capabilities on your existing platform.

Benefits

Efficiently Onboard Customers

Show your best customers the fast lane and provide additional checks for unknown individuals.Through our API, we provide one place to for you to integrate with 20+ vendors to validate provided information. Using our Identity Network, we can tell you whether a prospect has been seen in the network and what their reputation is. Our eDNA engine assembles and updates and our graph intelligence provides a reputation score so you can figure out what to do next.

Know if They Are Authorized 

Using graph intelligence and machine learning, we look at user behavior across phone, email and transactions over a period of time to determine the validity of transactions over time. We’II even consider the type of chargeback involved, for instance, to detect identity theft, or vulnerable victim fraud.

Reduce Your Risk

Identify the good guys you want to do business with and bad guys you want to avoid. Our eDNA engine assembles digital identities for each entity you do business with. Using graph intelligence, we create a reputation score that allows you to assess the amount of risk you are willing to take on.

Stay Ahead of Regulations

Maintain a proactive compliance program, be ready for auditors, and stay prepared for stricter regulatory requirements.  The IdentityMind platform’s flexibility enables you to be ready to respond quickly to new legislative developments.

Selected Customers

Key Features

  • ldentity creation
  • ldentity validation
  • Real time risk scoring through machine learning
  • Automated, transaction monitoring
  • Sanctions screening
  • Document upload, verification
  • Customer white list
  • Customer black list
  • Configurable rules
  • Account dashboard for viewing reports, individual interactions and more
  • Visual link analysis for rapid assessments
  • Event-driven alerts
  • Escalation, rule-driven cases
  • Queue management • Compliance reports
  • 20+ data services, one API
  • Access to ldentityMind network of over 200 million identities

Trusted Digital Identities

Identity is critical to reducing risk and ensuring compliance in today’s digital financial services. Trusted digital identities help you Identify who is on the other end of the transaction and help you decide whether you should do business with them.

"2017 will be the year of digital identities...there is no identity without trust and vice versa. Further identity and trust impact and influence payment methods and enable or disable currencies. I view digital identities as the corner stone of the future of financial services industry."

Pascal Bouvier

Physical Identities

  • Name
  • Address
  • Device
Basic identity information that is based on physical documents.

Information is limited, static, siloed and, in some cases, easy for a fraudster to acquire.

Digital Identities

  • Name
  • Address
  • Payments
  • DOB
  • SSN
  • Email
  • IP Geo-location
  • Device
  • Ship to Address
  • Payment Behavior
  • Black/White Lists
  • Sanction Lists
  • Document Verification
  • Social Media
  • Carrier/Mobile Data
  • Bill to Address
  • Account Validation
More detailed information that includes digital information such as email, IP address, mobile phone. It may also include verification of provided such as account information.

Information is interconnected and reflects a wide variety of information on top of physical documents.

Trusted Digital Identities

  • Name
  • Address
  • Payments
  • DOB
  • SSN
  • Email
  • IP Geo-location
  • Device
  • Ship to Address
  • Payment Behavior
  • Black/White Lists
  • Sanction Lists
  • Document Verification
  • Social Media
  • Carrier/Mobile Data
  • Bill to Address
  • Account Validation
  • Graph Intelligence
Trusted digital identities are digital identities that are analyzed to verify identity, to identify the most recent information and known associates, and to ultimately risk score the identity. The result is an evaluation based on the most recent picture of the entity in question.


Use this slider to see the advantages granted by our patented Trust Digital Identities.

Further Reading

White Paper: KYC Fundamentals Guide

This guide, based on important takeaways provided by the expert panelists of a KYC webinar we hosted, will provide a high level analysis of the things you need to pay attention to meet regulatory guidelines when performing Know Your Customer analysis on new and current customers, the approach you should follow on your relationships with regulatory agencies and industry peers, and how to stay out of trouble and avoid fines.

Get the Guide

90 Minutes with the SEC on ICOs

90 Minutes with the SEC on ICOs

Last week, the SEC asked to speak with us. The SEC has been very active recently, issuing numerous subpoenas. Interestingly, we are not conducting an ICO, presale or SAFT. Instead, we support companies who are, providing Know Your Customer (KYC) support, sometimes called AML/KYC.

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Kill Excel: Better Compliance Efficiency Through Regtech

Kill Excel: Better Compliance Efficiency Through Regtech

Your company expanding is exciting, growing your client base is very exciting, but if you are the compliance officer or a compliance agent managing this growth in Excel spreadsheets, that excitement might be mixed in with worry and trepidation. After all, those...

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To find out more about our solutions, simply fill in the form or call us at 650.618.9977.