Acquirers and PSPs are facing new challenges that old risk mitigation tools and platforms can’t address effectively. We are focused in providing them with the platform required to face these new challenges
Palo Alto, CA (PRWEB) November 28, 2012
IdentityMind™, today announced the release of version 1.7 of its evolutionary anti fraud and risk management platform. This version introduces real-time merchant risk monitoring and alerting, the enhancement of the platform’s framework for validating merchant account information during the onboarding and underwriting process, and support for multiple payment gateways to decide transactions within the platform thus supporting the transaction’s full lifecycle.
This version of the IdentityMind’s platform addresses key challenges that Payment Service Providers (PSPs) and Acquirers face in identifying fraudulent or risky merchants during the underwriting and during merchant’s operations. Furthermore it provides Acquirers with the required visibility to proactively monitor the performance of their merchant portfolio.
“The evolution of the payment space and the growth of mobile platforms are pushing new payment models that require a more dynamic and continuous monitoring of merchant risk performance” said Mr Gafke, IdentityMind’s president and CEO. “Acquirers and PSPs are facing new challenges that old risk mitigation tools and platforms can’t address effectively. We are focused in providing them with the platform required to face these new challenges.”
As more and more individuals are applying for merchant accounts, the necessity of vetting these individuals against their payment activity based on their electronic footprint becomes more relevant. While it is still very valuable to check against historical public records to assess the validity of the information presented by the individual, it is no longer sufficient to get their full risk profile. IdentityMind’s platform offers the ability of checking both their payment reputation associated to their electronic footprint as well as checking the historical records based on public information.
“IdentityMind’s unique technology and the deep integration with key partners allows us to offer PSPs and Acquirers a unique complete solution to assess the risk during the lifetime of a merchant” said Mr Jose Caldera, VP of Platform Management. “The risk landscape is changing as PSPs become more prevalent in the industry and individuals can apply for merchant accounts more easily”.
IdentityMind provides an evolutionary Anti Fraud and Risk Management On-Demand Platform. For online merchants, it stops payment fraud in real-time while reducing and expediting manual reviews. For Acquirers and Payment Service Providers, it detects risky merchants during and after the on-boarding process.For more information, visit http://www.identitymind.com or email pr(at)identitymind(dot)com
© 2012 IdentityMind. All rights reserved. IdentityMind, IdentityMind Platform, IdentityMind eDNA, and the IdentityMind logo are trademarks or registered trademarks of IdentityMind, Inc in the United States and other countries. All other brand, service or product names are trademarks or registered trademarks of their respective companies or owners.
Media Contacts: IdentityMind Email: pr(at)identitymind(dot)com