Refinitiv reveals Qual-ID to fight identity fraud and financial crime

Tuesday 24 September 2019 11:26 CET | News

Refinitiv has launched Qual-ID; a solution that is meant to help financial services providers fight identity fraud and financial crime.

The initiative combines digital identity verification with risk screening, in a bit to help facilitate digital onboarding of consumers and compliance with KYC and AML regulations around the world. Qual-ID is designed to facilitate the consumer experience while helping to protect against fraud and money laundering. Also, it supports a fast and secure way to digitally onboard consumers through a combination of Refinitiv’s World-Check Risk Intelligence with Trulioo’s digital identity network.

Moreover, Qual-ID enables organisations to verify identities against trusted data sources, proof legal documents, conduct anti-impersonation checks, and screen for regulatory and financial risk, including sanctions, PEPs, and adverse media. Refinitiv Qual-ID comprises three steps:

  • Identity verification (IDV): Verifying that a person actually exists and that they are who they say they are;

  • Identity proofing (IDP): A facial comparison element adds additional assurance and both automated algorithmic and manual checks are available for effectiveness;

  • Risk screening: Access to Refinitiv’s Risk Intelligence data via World-Check, enabling comprehensive customer screening.

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Keywords: Refinitiv, Qual-ID, financial services providers, identity fraud, financial crime, digital IDs, KYC, AML, regulations, fraud, financial risks, identity verification, identity proofing, risk screening
Countries: World