Identity verification RegTech GIACT has launched, gIDENTIFY Persistent Monitoring, a new identity monitoring solution that automates the monitoring of specific personally identifiable information.
The new product helps companies automatically triangulate customer information about the customer, against multiple sources, providing businesses with an up-to-date picture of their customer population.
It continuously check customers against their last names, their address, phone number, death indicator and initial and extended fraud alerts on credit reports. gIDENTIFY notifies the business immediately if any of those factors change.
By doing that, GIACT hopes to provide its clients with better onboarding processes, ensure they live up to their know your customer obligations, reduce false negatives and prevent fraud.
“Having up-to-date records on your customer population is one of the best ways to mitigate fraud and streamline compliance,” said David Barnhardt, CEO at GIACT. “With gIDENTIFY Persistent Monitoring, identity no longer needs to be reactive – gIDENTIFY Persistent Monitoring allows companies to proactively stay up to date on their customer’s identity. Should a change occur in the customer’s profile, the business receives a real-time alert that allows them to seamlessly pull a report, assess risk and proactively respond accordingly.”
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