Money Service Businesses (MSB)
Money Service Business Compliance Solutions: Compliance Automation for MSBs
Delivering money transfer services, whether to the banked, unbanked or underbanked can be extremely challenging when payment processors and banks continue to derisk Money Service Businesses. The result is that MSBs have a difficult time meeting their customer’s needs, and customers have a harder time accessing the money transfer services they need.
What can you do? ldentityMind has a fraud prevention and compliance automation solution for integrated merchant services. ldentityMind for MSBs is an all-in-one solution that combines ldentityMind’s market-leading risk and compliance platform with IDMPay’s merchant services and payment processing. Reduce the risk of doing business by knowing your customer before diving in and risking fraud or KYC compliance.
Quickly Onboard and Begin Processing
Simplified boarding, and easy integration to start processing payments as soon as possible.
Prevent Losses With Built-In Protection
Our powerful, built-in risk platform helps prevent fraud and analyze the risk of each transaction.
Expand Your Business
Accept payments in 63 countries, perform KYC and stay on top of AML regulations almost every where in the world.
Reduce Your Operational Costs
Integrated solution to achieve KYC, Transaction Monitoring for Anti Money Laundering, Sanctions Screening and PCI Compliance
Merchant Services and Payment Processing
Processing accounts for Credit Card and ACH payments for money transfer organizations around the world. Prevent fraud and analyze risk on every transaction.
Sanctions Screening
Improve the accuracy and efficiency screening against sanctions programs and Politically Exposed Persons (PEPs). In addition, detect individual’s known associations through public data, social network analysis, deep + dark web, and other data sources.
AML Compliance
Know Your Customer: Verify sender’s identities worldwide.
Transaction Monitoring: Create alerts to detect potential money-laundering.
Fraud Prevention
Detect and prevent payment fraud, account takeovers, friendly fraud, and onboarding fraud, all in real-time.
Integrated Platform
One solution for Payments, and Risk+ Compliance (KYC, Transaction Monitoring, Fraud Prevention, Sanctions and PEP screening)
Single Vendor
Scalable Solution
The Network Effect
Payment Processing
Credit card and ACH processing
International and high-risk processing
Tokenization
Shopping cart
Hosted payment page
Fraud Prevention
Exclusive MSB customer white, black list
Global identity validation
Risk scoring through machine learning
Automated, continuous monitoring
Rules, alerts, cases
Sanctions Screening
Built-In SAR filing
Social network, deep and dark web data
and more…
Compliance reports
Queue management
Geo-fencing
30+ data services, one API
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."
Physical Identities
- Name
- Address
- Device
Information is limited, static, siloed and, in some cases, easy for a fraudster to acquire.
Digital Identities
- Name
- Address
- Payments
- DOB
- SSN
- 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
Information is interconnected and reflects a wide variety of information on top of physical documents.
Trusted Digital Identities
- Name
- Address
- Payments
- DOB
- SSN
- 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
Further Reading
Webinar: State of the Money Transfer Industry
Join Hugo Cuevas-Mohr, Director at IMTC Conferences and Mohr World Consulting; Fernando Fayzano, CEO at Pontual Money Services; and Jose Caldera (moderator) VP of Products at IdentityMind Global in discussing:
– The top of mind issues that are keeping Industry leaders busy (and up at night) in 2017
– AML and Fraud Prevention: strengthening your processes through technology
– De-Risking: What’s in store for the year ahead?
– Land ahoy! – The promise of new markets: the unbanked and underbanked
– Going digital: What it means to your business
6 Can’t-Miss Sessions at Money20/20
We’re gearing up for Money20/20 in Las Vegas, the unmissable conference for those in payments and financial innovation. With about 12,000 attendees, the four-day show promises insights from hundreds of speakers on a broad range of topics, with valuable discussions and...
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Automated Review Policy – Effective Reduction of False Positives
Introduction to Automated Review Policy Last week, we received a patent for our Automated Review Policy. Automated Review Policy, or ARP, is a way to look at “risky” data and remove the cases that aren’t, in fact, risky for the business. So, in other words, it’s a way...
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