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SUPERIORAML

IdentityMind’s 2.0 platform is focused around allowing you to adjust your processes for more trusted users and less trusted users. Spend more time on suspicious users while showing your trusted users the fast lane. Approach favored by regulators.

Key Benefits

Risk-Based Approach Improves Productivity

IdentityMind2.0 allows you to apply more hurdles to suspicious users while showing trusted users the fast lane. The result is fewer alerts where you don’t need them, the right amount where you do need them and less time spent chasing them down.

Dynamic Modeling Is Risk-Based Approach on Steroids

IdentityMind takes a continuous approach beyond the initial KYC event. This approach recognizes that a user’s risk profile changes over time. And, as the IdentityMind platform learns more, group risk models evolve too.

Contextual Analysis Provides Greater Accuracy

IdentityMind compares identities, evaluates the risk of the identity’s country of origin, and considers situation and environment. 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.

Transparency Speeds Set-Up and Understanding

Custom solutions focus resources on building and testing instead of compliance, and can often lag on helping users arrive at insights. Our standards-based platform, is highly configurable, allowing you to select what you need and enabling you to get started as soon as possible.

Key Capabilities

Building Digital Identities

  • eDNA – build digital identities using eDNA engine
  • Partner Ecosystem – ecosystem of 30+ partners to gather insights on all user attributes – e.g. ID Data, Device/IP, Email Reputation, Doc Validation, Biometrics, Social Networks
  • Reputation – calculated in real time using machine learning, graph intelligence – looks at user attributes, attribute relationships,  Digital Identities Network and delivers Trusted, Suspicious Digital classification
  • Business Relevant Information – collect and associate additional user information for KYC

KYC Plugin

  • Plug and Play – embeddable web plugin that provides all the functionality and user experience for customer onboarding and KYC
  • Risk Based Approach – optimized to collect relevant information per region/country and risk based approach to perform CDD/EDD
  • Configurability – highly customizable to match look and feel of client websites
  • Image Capture Capabilities – enhanced image capture capabilities allowing better document verification results and facial verification

 

KYC and Monitoring

  • Digital Identity Verification – Is this a real person? Is this a synthetic identity? Does the PII provided belong to this person? Can we do business with this person?
  • Staged KYC – risk-based approach balances customer experience with needed due diligence
  • Risk Profiles – risk profiles to separate KYC rules for customer risk, products, regions etc.
  • Continuous Monitoring – digital identity is continuously updated with user actions performed through client interactions and partner ecosystem e.g., sanctions, negative news etc.
  • Global ID Verification – ability to perform global digital identity verification

 

 

 

Sanctions

  • Sanctions Lists – integrated with many sanctions lists in multiple formats
  • OFAC, SDN (Regs, Evaders, Global Terrorism, Narcotics), U.S. Dept. of State, FinCEN US PEP Lists – US, Canada, Europe etc., Regional Lists – Countries, IMF, World Bank etc.
  • Updates – frequently updated lists (e.g., in real-time or at specified interval based on list)
  • Applicability Configuration – set lists that are applicable to a country or transaction
  • Matching Algorithms – compare names, addresses, countries, business names etc.
  • Fuzzy Matching – near matches, exact matches, phonetic matches
  • Tuning Capabilities – set thresholds for results of matching algorithm
  • Continuous Monitoring – define interval at which a group or all active users are re-scanned
  • Real-time and Batch Scan – real-time (during KYC) or batch scans

Transaction Monitoring

ldentityMind processes transactions in real time -everything from applications in on boarding processes to purchase transactions

Rules

Sets thresholds for accepted transactions, rejected transactions and transactions that require further evaluation

Case Management

Automatically activates case management for transactions that require further review by your

Alerts

Uses event-driven alerts to notify the team of the need to respond to cases, and of other activity

“IdentityMind’s Version 2.0 platform provides a risk and digital identity-based solution that helps determine the appropriate risk level of each user,” said Julie Conroy, Research Director for Aite Group’s Retail Banking & Payments practice. “In doing so, IdentityMind helps businesses protect against illicit activities, provide actionable insights into their AML program, realize greater operational efficiencies, and meet regulatory requirements.”

Julie Conroy, Research Director for Aite Group’s Retail Banking & Payments practice

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

Guide: A Framework for Proofing, Monitoring, and Trusting Identities

A recent report “Market Guide for Identity Proofing and Corroboration,” breaks down the key functions for full identity proofing and corroboration. As one of the few who performed all of the required functions, we wanted to grab this opportunity to walk through how our platform achieves each one of these functions.

Get the Guide

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