Fraud Prevention

Use Digital Identities to reduce fraud by 20%, chargebacks by 55%, manual reviews by 18%, and processing expense by 22% 

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Superior Fraud Prevention for Merchants, Financial Services Companies, and Payment Service Providers

The balance between best experience and least fraud is tough to find. Too much risk means chargebacks that can hurt your bottomline. Too much security means fewer customers and more unhappy customers. What's the balance? Knowing who's on the other end of the transaction is the best start.

IdentityMind lets you see who's on the other end of the transaction so you can identify the good guys you want to do business with and the bad guys that you want to avoid. And, using digital identities powered by eDNA™ technology, you can get a more accurate picture of risk to enable better customer selection and fewer rejections of good customers. eDNA leverages machine learning to not only build identities but to also analyze them for the most accurate reputation score (risk profile) possible. Our algorithms provide reputations for each entity tailored for the industry in which you do business. And, we enable you to modify your risk process on the fly, adding in additional checks where merited.




Benefits

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Configure Risk 

Protect against fraud, identity theft, fraud rings, phishing, account takeovers, and more, setting the best balance between risk and user experience.

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Reduce Chargebacks

Reduce and maintain a low chargeback rate by setting your risk thresholds to match your business needs.

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Reduce Ops Costs

Automated transaction processing reduces the number of escalations while lowering your risk processing cost.

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Any Transaction Type

Prevent fraud associated with online payment transactions through eDNA™ across any payment type from credit cards, ACH, digital wallets, bank accounts, wires, etc.

Features

  • Stop onboarding fraud
  • Stop transaction fraud
  • Digital identity creation
  • Identity validation
  • Real time risk scoring through machine learning
  • Rules based transaction monitoring
  • Configurable rules for optimal process
  • Case management for escalations
  • Event-driven alert
  • Automated compliance processes
  • Compliance reports
  • Rest API for easy to use, standards-based access
  • 20+ data services, one API
  • Access to ldentityMind network of over 200 million identities

 

How it Works

1. Trusted Digital Identities

IdentityMind's eDNA(TM) builds and analyzes digital identities so you can see who's on the other end of the transaction and decide what to do in real time.

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2. IdentityLink Analysis

Our eDNA correlates the attributes (50+) within an identity, taking into account changes over time. And it also discovers relationships with other identities.

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3. Identity Reputation

IdentityLink Analysis also provides a reputation score that reflects the latest information about an entity and gives you a basis for trust decisions. 

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4. Rules Engine

The IdentityMind platform includes a rules engine so you can set transaction acceptance and rejection thresholds. Determine when you want to send a transaction to be reviewed by your analysts.

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5: Many Data Services, 
One API

IdentityMind allows you to verify user provided data to determine it validity. We integrate with a wide variety of third parties to verify name, address, phone number, TIN, SSN, IP address, email, documents and more.

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6: Identity Network

Our identity network let's you see who's on the other end of the transaction, even if you haven't seen them before, if they've transacted with another IdentityMind customer. Encryption ensures that privacy across all the identities on our network.

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

book-mockup-2.pngWhite Paper: 

8 Effective Anti-Fraud Strategies


Our "8 Effective Anti-Fraud Strategies" guide represents some of the most effective anti-fraud strategies compiled from conversations with the IdentityMind team and our customers.

Read the Tips

Blog Post: Regulatory Compliance Agility With RegTech


A computer can work around the clock with a level of accuracy that does not vary as it does across a team, reducing the potential for fraud. Greater volume also means data that can’t be captured effectively in high volume manual processes, and a greater chance of being out of compliance.

Read More


Blog Post: FinTech AML Self Regulation in Emerging Markets


In many countries there are no regulations to abide by, or the regulations aren’t clear. However, in many cases, these companies are reaching out to local authorities and pushing agendas to help develop regulatory frameworks with the hope that it will give legitimacy to their industries.

Read More