"IdentityMind and Neoway are business-oriented technology companies focused on supporting real-time financial decisions,” said Jaime de Paula, Neoway’s CEO.
Palo Alto, California (PRWEB) October 25, 2016
IdentityMind Global, today announced a partnership to integrate its Trusted Digital Identity™ (TDI™) online fraud prevention and compliance automation platform with Neoway’s Advanced Data solution. The partnership offers Neoway a jumpstart in the North America FinTech market while expanding IdentityMind’s RegTech platform coverage in Latin America, with immediate support for Brazil and Mexico.
The partnership will strengthen compliance automation with real-time enhanced due-diligence (EDD) analytics and transactional decision based on IdentityMind’s Trusted Digital Identities, Neoway's data, and their combined data analytics capabilities. Performing real-time Anti Money Laundering (AML), Know Your Customer (KYC), Sanctions and PEP screening, Fraud Prevention and credit decisions will fast track traditional banks’ adoption of digital banking services and realize FinTech’s inclusion of unbanked and underbanked into the global financial system.
“Good, reliable data is key to validate identities and protect against synthetic and compromised identities” said Garrett Gafke, IdentityMind Global’s President and CEO. “The partnership with Neoway is important to IdentityMind in two fronts. First, it will immediately put us at the forefront of the FinTech and Digital Banking in LATAM. And second, it will help us further advance Trusted Digital Identities worldwide by collaborating with each other’s core technology on identity modeling and analytics. The latter is essential to solve the identification of all users electronically and in real time, which is fundamental to the expansion of financial services worldwide.”
In addition to open Neoway’s immediate access to the North American market, the partnership will also further strengthen Neoway’s position to expand services into their financial institutions clients with IdentityMind’s unique Trusted Digital Identities and compliance automation platform.
"IdentityMind and Neoway are business-oriented technology companies focused on supporting real-time financial decisions,” said Jaime de Paula, Neoway’s CEO. “Identities were never better crafted on the digital world than with IdentityMind’s Trusted Digital Identities solution, and using artificial intelligence to understanding identities out from data in a graph analytics platform is Neoway's core competence. The companies are now using Neoway's capabilities to collect and manage data, and IdentityMind’s eDNA™ model to deliver better results for their customers".
The functionality resulting from this partnership will be available for clients worldwide by the end of 2016.
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. For more information, visit: http://www.identitymindglobal.com
Neoway, born in Brazil in 2002, is focused on big data for business solutions. It merges over 52 billion vital signs, encompassing 69 million companies (15 million in USA) and 194 million individuals. Along with investment by Accel Partners, Endeavor Catalyst and Monashees, Neoway is recognized by Gartner Inc as a Cool Vendor in 2016. Neoway is committed to enabling companies to become data-driven businesses, through world class big data for business solutions. For more information, visit: http://www.neoway.com.br