IdentityMind Global included in Forrester's Vendor Landscape: Anti-Money Laundering Solutions 2017

In this report, Forrester explains the main reasons why Anti-Money Laundering (AML) programs are key for companies that facilitate financial transactions, including:

  • Organized crime’s and extremist groups’ schemes are more sophisticated.
  • Regulatory scrutiny is stricter and more comprehensive.
  • Reputational damage due to AML issues can be catastrophic.

According to Forrester, when selecting the right AML technologies you should consider the broader financial crimes prevention and risk management architecture within which AML sits, with special focus on:

  • Customer identification and due diligence. Whom you allow to transact with your firm has a huge impact on how well you can intercept money laundering and meet compliance regulations.
  • Sanctions screening, and transaction monitoring.

The good news is that our platform can help you with all of the above.

Back in 2009 we envisioned the need in the industry for digital identity-based solutions as the new prerequisite for Know Your Customer (KYC), Anti-Money Laundering (AML) compliance solutions and overall online fraud prevention. The use of IdentityMind’s Digital Identities based AML solution is proven to streamline compliance operations by: 
  1. Providing real time online transaction monitoring, accurately capturing user behavior and whether such behavior is in regulatory violation or considered suspicious.
  2. Having access to +20 services pre-integrated via a single API to perform Know Your Customer and identity proofing on your customers, leveraging our own unique database of more than 200 million digital identities.
  3. Significantly reducing Sanctions and PEP screening false positives, from industry average of 12% to less than 4%.

Forrester evaluates IdentityMind's AML solution and shares the following insight: "IdentityMind provides eDNA - a shared electronic human profile data service. The solution provides investigators with a complete understanding of the identity behind transactions"; and "Vendors that include new data sources will come out on top. Beyond identity verification, vendors such as IdentityMind will offer a broader set of data sources, and will provide better AML detection rates".

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About IdentityMind

IdentityMind supports your AML and fraud prevention needs across a range of solutions covering Know Your Customer (KYC), sanctions screening, anti-money laundering (AML) transaction monitoring, and chargeback detection. We help you ensure regulatory compliance and protect against fraud losses with our digital identities, providing the most complete picture of a customer’s risk.

Instead of analyzing entities and attributes of a transaction in isolation, IdentityMind builds and verifies identities and draws correlations with other entities and attributes such as shared physical and email addresses. Learn More.

Analyst Recognition

GARTNER
Sample Vendor in Identity Proofing and Corroboration

“Hype Cycle for Identity and Access Management Technologies, 2018”

GARTNER
Sample RegTech Vendor

“Hype Cycle for Digital Banking Transformation, 2018”

AITE GROUP
Leading AML Advanced Analytics Vendor

“The AML of Tomorrow: Here Today” 2018

INTERNATIONAL DATA CORPORATION
Innovator

“IDC Innovators: Identity Proofing Solutions to Prevent New Account Fraud and Enhance KYC Compliance, 2018"

GARTNER
Representative Vendor

“Market Guide for Identity Proofing and Corroboration" 2018