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IdentityMind Global, today announced the latest version of its Enterprise Fraud Prevention platform, designed to increase operational efficiency and reduce manual review time for medium to large Etailers. The new version extends the user interface with customizable dashboards, queue management, reporting, and machine learning analysis intelligence, in addition to IdentityMind’s eDNA™ trusted digital identity core technology.

According to the Merchant Risk Council (MRC) Global Payments Survey, the typical manual review rate for online orders was 8% in 2016 with an average per transaction review time of 5.6 minutes (2015). In the same survey, 46% of merchants site “lack of sufficient internal resources” as a major fraud challenge.

Version 1.29 of the IdentityMind platform addresses this head on by enabling fraud analysts and managers to configure operational dashboards with widgets tailored to expedite transaction review. Through the dashboards, analysts can quickly see overall transaction processing statistics as well as exceptions that require manual review, and they can resolve transactions in bulk, assign to queues, and review individual or escalated transactions. The average manual review time is below 4 minutes for IdentityMind’s enterprise etailer beta clients, versus the average of 5.6 minutes per transaction reported by MRC. This average reduction of nearly 30% translates into better processes and better cove rage by fraud analyst teams. In addition, through its use of graph intelligence to analyze digital identities, IdentityMind can reduce transaction fraud by 60% and review of card not present (CNP) transactions by 50%.

“Etailers and other enterprises require solutions that can efficiently handle large volumes of transactions seen online,” said Garrett Gafke, CEO of IdentityMind Global. “IdentityMind not only provides a highly scalable solution that leverages digital identities to help Etailers make the best automated risk decisions, but we provide a solution that increases the efficiency of your manual operations to reduce manual review time and make every one of your fraud analysts, your most efficient fraud analyst.”

Enterprises require highly scalable solutions that aid account opening and transactional fraud decisions in real time across all channels where they interact with their customers. IdentityMind addresses this requirement starting with its core strength in digital identities. IdentityMind’s patented eDNA™ engine continuously builds and validates identities. These identities grow with each customer interaction across the secure IdentityMind Identity Network and are validated through a variety of third party data services available through the IdentityMind API. Using machine learning and graph intelligence, IdentityMind builds reputations for each identity allowing enterprises to understand the true risk of doing business with any particular entity. The Rize report allows enterprises to understand where they can maximize revenue and minimize risk, and which rules they need to modify to get there.

IdentityMind’s Enterprise Fraud Prevention platform can be leveraged as a platform with dashboards, graph intelligence, reports and digital identities included, or a la cart via the IdentityLink API that allows companies to integrate IdentityMind’s advanced analytics into their existing risk management platform. IdentityMind’s newest platform is readily available worldwide.

About IdentityMind Global

IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS Platform for online risk management and compliance automation. We help companies reduce and improve client on boarding fraud, transaction fraud, AML compliance, sanction screening compliance and KYC compliance. IdentityMind continuously builds, validates and risk scores digital identities through our eDNA™ engine to ensure global business safety and compliance from customer onboarding and throughout the customer lifecycle. We securely track the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allow companies to identity and reduce fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify money laundering. For more information, visit:



IdentityMind Global and, today announced a partnership that combines IdentityMind’s risk management and compliance platform with Confirm’s ID authentication APIs and SDKs. The partnership exclusively offers Confirm’s advanced document authentication technologies for US driver’s licenses and IDs within IdentityMind’s RegTech platform.

Javelin Strategy and Research’s “2017 Identity Fraud Study”, found that $16 billion was stolen from 15.4 million U.S. consumers in 2016, up from $15.3 billion the prior year and amounting to $107 billion over the past six years.

The partnership strengthens regulatory and compliance automation with fully integrated, real-time mobile identity authentication services in support of Know Your Customer (KYC), Sanctions and PEP screening and Fraud Prevention. For instance, account opening and customer onboarding processes require verification that the information being presented is real and can be used by the entity providing it. enhances IdentityMind’s Platform coverage of identity document validation, and specifically with’s strong support for US state driver’s licenses and state identification.

“Trusted Digital Identities requires strong validation of the underlying identity attributes,” said Garrett Gafke, CEO of IdentityMind Global. “ provides best in class identity document validation for the United States, especially for the very difficult to validate state IDs that are very common with our Millennial generation. The partnership also delivers on the promise of a frictionless user experience that provides the ability to understand and guard against risk while also keeping customers happy.” enables secure transactions between businesses and consumers by authenticating Government issued ID documents with easy-to-use mobile SDKs and RESTful APIs. Through remote identity proofing, its solution aids customers in solving the ‘Know Your Customer’ problem that exists in highly regulated industries such as banking, insurance, and healthcare.

“Confirm’s ability to tie credible data to a trusted document at account origination strengthens downstream authentication checks and services. This adds tremendous value to any KYC process requiring remote identity proofing,” said Confirm’s CEO and co-founder, Bob Geiman. “The partnership provides IdentityMind Global with fast and accurate identity document data for it’s RegTech platform.”

About Confirm

Confirm provides APIs and SDKs that help organizations rapidly validate customer identity from a driver’s license or ID. The solutions utilize proprietary machine learning and computer vision technologies to conveniently and accurately capture, extract, classify and authenticate consumer identity document data for downstream authentication.

Follow Confirm: Twitter: Blog: LinkedIn:

About IdentityMind Global

IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS Platform for online risk management and compliance automation. IdentityMind continuously validates and risk scores online identities worldwide through its eDNA to ensure global business safety and compliance at customer onboarding and throughout their lifecycle. It securely tracks the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allows companies to identity and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering. The Identity Bureau is a registered trademark of IdentityMind Global.

For more information, visit:



Financial institutions are required to carry out due diligence to identify their customers and satisfy themselves of all relevant information before doing business with them. This is intended to ensure that no financial institution is used by criminals in furtherance of money laundering. Here are 10 startups operating in the KYC/CDD space.
  1. Albany
Founded in 2007, Albany is a due diligence solution provider based in the UK. It has worked with banks and insurance companies to create a suite of platforms which interact with each other and can be customized to your compliance needs and regulatory obligations.
  1. ComplyAdvantage
ComplyAdvantage is a UK based firm established in 2014 and provides AML data and surveillance solutions. The firm’s global proprietary database on AML risk exposure covers politically exposed persons, global sanctions, watch lists and adverse media. ComplyAdvantage provides such solutions as AML screening, identity verification, live transaction monitoring and screening.
  1. Contego
Contego was founded in the UK in 2011 and provides KYC validation tools to companies and individuals. It enables you to conduct identity verification and screen for multiple risk factors. Its SaaS model with a browser-based interface that has a full featured API makes it possible to handle more data in real time.
  1. Cynopsis Solutions
Cynopsis Solutions is a Singaporean regtech startup that was established in 2014. Its services include transaction monitoring for combating criminal activities involving money laundering and terrorism financing. The firm focuses on three key areas; risk, compliance, and regulations in the professional and finance industries.
  1. Encompass
Encompass was founded in 2012 and is headquartered in the UK. It provides automated due diligence and onboarding solutions to financial services companies. As a result, the companies are able to comply with internal KYC procedures and ultimately meet the regulatory requirements.
  1. Fenergo
Fenergo is an Irish based regtech firm founded in 2009. It provides client lifecycle management solutions including KYC data management and client onboarding. More specifically, Fenergo offers:
  • AML and KYC compliance
  • Client onboarding and lifecycle management
  • Client and counterparty data management
  • Digital client journey
  1. Arctic Intelligence
Arctic is an acronym for audit, risk, compliance, technology innovation company. The firm focuses on several areas. The company has developed a platform for batch populating AML, CRS and FATCA self-identification forms used for obtaining customer declarations. These enable organisations to obtain client information quickly, cheaply and in a non-intrusive manner.
  1. IdentityMind
IndentityMind was founded in the U.S in 2011 and its KYC solutions involve risk assessment for merchant accounts. in addition to KYC automation, the company deals with fraud prevention, AML compliance, and automated onboarding among others.
  1. KYC Exchange
KYC Exchange is a Swiss-based firm founded in 2013. Its main object is the collection of KYC data over its platform. It has developed a platform designed like a front office system which enables the client onboarding team or relationship managers to get KYC data directly from clients.
  1. SimpleKYC
SimpleKYC was founded in 2015 and is based in Australia. It provides solutions in the KYC workflow space including visualization and identity verification for different entity ownership structures such as trusts and companies. Read More