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IDnow offers AML screening and monitoring

Thursday 15 July 2021 09:15 CET | News

IDnow, an European Platform-as-a-Service provider for identity verification, introduces automated AML (anti-money laundering) screening to its platform.

This feature enables a combined screening of users against certain global watchlists to make a risk assessment and to avoid violating various sanctions. The solution is able to screen a person’s identity against PEP (politically exposed person) lists, sanctions lists, global watchlists and adverse media at regular and self-selected time intervals. This allows the IDnow platform to monitor thousands of AML lists concurrently and in real-time.

IDnow integrates this additional step into its platform to reduce complexity and to make the KYC (know your customer) flow smoother. The automated process spares companies from uploading data for the monitoring as the information was already collected during the identity check. With the option of ongoing monitoring, based on an individually set rhythm, businesses can maintain current risk profiles of their customers and perform the customer due diligence.

As a first step, AML screening and monitoring will be offered for IDnow AutoIdent, the automated identity verification solution within IDnow’s platform. Furthermore, it will be offered for all our identification methods in the future.

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Keywords: identity verification, risk management, AML, KYC
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Europe
This article is part of category

Securing Transactions