Company news

iSignthis - Stops fraud before it happens - under Patent - “Zero Day Fraud Protection”

Should we rely on historical fraud data and 'after the fact' vendor alerts - what's the alternative - what can we add? How do merchants prevent fraud at customer on-board and ongoing...?

This begs the question: What are KYC vendors supplying? KYC data validity continues to weaken, poor due to 20 years of social hacks and breaches, in trying to mitigate this data quality question, or lack of any useful data in most jurisdictions; static vendors integrate to 3rd party vendors of fraud tools to support poor KYC, that can't be the answer?

Here are seven reasons why it could make sense to move your businesses Online, customer on-board process away from static, historical KYC data vendors and KYC vendor aggregators of the same:

1. 100% match rates/All jurisdictions: We offer electronic identity verification (eKYC) for every financially included person, no matter where they are located, in the world. Delivering 100% match rates at customer on-board.

2. CNP Liability Shift: Mitigate and manage friendly fraud using our service, (we stop fraud before it happens via our patented process - “Zero Day Fraud capture”). Our Online KYC/on-board customer journey also includes Strong Customer Authentication (SCA) Anti-Fraud, CNP Liability Shift ("One Click" chargeback reversal dispute report) and 2FA payment instrument verification.

3. No manual process: We remove manual KYC processes, one common example is a result of a static data vendors KYC failing to match your new customer. This leaves your compliance team to on-board the customer manually or via a secondary vendors desktop service. iSignthis removes the manual exceptions process and customer friction.

4. Ongoing Transactional monitoring: iSignthis delivers live ongoing due diligence throughout the customer lifecycle via Patented Strong Customer Authentication SCA and 2FA Payment Instrument Verification PIV.

5. eKYC is charged when customer trades/eKYC success: Low customer friction, increase in conversion (eKYC is billed on successful eKYC not on attempt, and only when your customer begins trading with your business).

6. Meets or exceeds regulation: Our service provides the basis for compliance with 4th AML Directive, incoming ESA risk factor guidelines and the PDS2 via one solution.

7. Patent Solution: iSignthis (ASX: ISX) offers a patented solution. IS27001 compliant, PCI DSS Tier 1 certified, Nederland's DDPA Audited, UK ICO Registered, ASX/ASIC regulated.

I found this site interesting, names we all know:

We've all heard the following from charming KYC vendor sales people; "yes..., we can deliver KYC to 40 jurisdictions Mr Customer," however, in reality we know that only half a dozen of the jurisdictions offered will either meet or exceed minimum KYC, with automated failure into manual exceptions being as high as 10% in the UK through 90%+ elsewhere.....

Would be pleased to discuss 1 through 7, contact


Wednesday, 16 Mar, 2016 / 12:42

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