Acuant Integration delivers superior customer experiences, leading global coverage and real-time risk detection with speed and scalability
LOS ANGELES, July 26, 2022 /PRNewswire/ — Acuanta GBG company and leading identity verification provider, today announced an integration with ServiceNow Financial Services Operations, providing customers with seamless online identity verification, Know Your Customer (KYC) , Know Your Business (KYB) and Anti-Money Laundering (AML) regulatory compliance in one solution.
In the digital world, financial institutions must balance the customer experience with compliance while also reducing the risk of fraud. It is important to build trust with customers from the beginning. This partnership offers businesses a streamlined way to automate, accelerate and scale onboarding, while maintaining regulatory compliance and reducing risk.
“Navigating the complexities of regulatory compliance while delivering an experience that meets the expectations of customers and competitors is no easy task,” said Christina Luttrell, Chief Executive Officer, GBG Americas (Acuant and IDology). “Through this integration, we’re helping financial institutions deliver the best digital experience possible, from start to finish, and succeed in an environment of increasing fraud, regulation and competition.”
With ServiceNow’s Financial Services Operations offering companies can get up and running fast to deliver best-in-class solutions from Acuant’s Trusted Identity Platform:
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A Risk-Based Approach to Automated KYC and KYB. Acuant’s risk-based approach is favored by regulators and has helped a range of companies not only comply with regulations but provide a customer journey that eliminates unnecessary friction and reduces financial crime . The platform’s orchestration layer and workflow feature verification automation that ensures high-risk customers are screened against global sanctions lists and, if necessary, subject to additional checks with due diligence. Friction is applied only to suspicious identities, delivering a fast, seamless experience with trusted identities and guarding against fraud, terrorism, human trafficking and other forms of corruption.
Using global data sources, Acuant verifies businesses (KYB) with a high degree of accuracy and conducts proper consumer due diligence on Ultimate Beneficial Owners (UBOs) while also ensuring that financial institutions do not engage -liaison with sanctioned entities. Risk assessments are automated and standardized by analyzing business type, legal entity structure, business category and more with relevant data available through a single platform.
Acuant’s sanctions screening uses more than 400 sanctions and Politically Exposed Persons (PEPs) lists that are constantly updated and applies a wide range of algorithms to reduce false positives. Automated screening is implemented using powerful tools, including rule configurability, for case and queue management.
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Real-Time Risk Detection using Graph Intelligence and Machine Learning. Acuant addresses continuous monitoring with patented technology that validates and assesses the risk of identities and businesses over time following the onboarding phase to track identities, reputations and transactions to assess and quantify risk over time and throughout their lifecycle. Its industry-leading digital identity technology uses AI machine learning and graph intelligence to provide highly accurate risk signals in real time. Supervised machine learning algorithms are trained to identify identity graphs that are likely to be dangerous and therefore need to be evaluated. These algorithms can learn the details of your business by including tags that represent your particular risk.
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Superior, Includes Global Coverage. Acuant believes that all customers should have the ability to be verified in order to transact with any business. This includes the underbanked, credit invisible, thin-file individuals and those who may be new to the country. Acuant’s technology provides multiple ways to verify identities based on the characteristics that customers have presented to a business (whether personal data points, identity documents or biometrics). Acuant provides superior global coverage and holds the largest, continuously updated identity document library in the industry with more than 6,000 global documents covering over 200 countries and territories.
About Acuant
Acuant, a GBG company, fosters trust in the digital world. Acuant’s Trusted Identity Platform improves every customer journey (onboarding, tracking, reusing and sharing digital identities) allowing businesses and governments to combat fraud and manage risk in one place. Omnichannel, AI-powered identity verification, and KYC/AML solutions deliver actionable insights and operational efficiencies. Built to be privacy-minded and inclusive, Acuant’s technology is accessible to all demographics worldwide and has the largest identity document library in the industry. Facilitating millions of transactions in over 200 countries and territories every day, Acuant is trusted by industry leaders in finance, crypto, retail, healthcare, gaming, hospitality and more.
Media Contact:
Kathy Berardi
Carabiner Communication
678.644.4122
[email protected]
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SOURCE Acuant