IdentityMind Global

IdentityMind Global

Type	Private
Industry	Financial Software
Founded	28th April, 2014
Headquarters	Palo Alto, California
Products	Fraud Prevention, Anti Money Laundering, Know Your Customer (KYC), Merchant Risk and Underwriting, Sanctions Screening
Number of employees	65
Website	www.identitymindglobal.com

IdentityMind Global is a Palo Alto based e-commerce and financial technology company, and is led by Garrett Gafke, who serves as CEO and President. The company provides fraud prevention and risk management services for financial institutions and online merchants. In 2015, IdentityMind Global opened a second office in Spokane Valley, Washington and plans were announced to open offices on the East Coast and in Asia by the end of 2015.^[1]

Overview

IdentityMind Global provides services in risk management, fraud prevention, and anti-money laundering technology for banks and online financial services.^[2][3] The company’s core technology recognizes electronic identities based on every attribute associated with a transaction, and how those attributes are validated and relate to one another.^[4][5]

Products

IdentityMind Global offers risk management and compliance solutions for online merchants, acquiring banks, payment processors and gateways, payment service providers, digital currency exchanges, and financial institutions.^[6][7] Core competencies include:

• Fraud Prevention: Issues recommendations for accepting, rejecting, or manually reviewing transactions.^{[8][9][10][11]}
• Anti Money Laundering (AML): Monitors transactions to detect potentially suspicious behavior.^[12]
• Know Your Customer (KYC): Ensures institutions have a configurable Customer Identification Program (CIP) along with enhanced due diligence (EDD) capabilities.^[13]
• IGNITE Program for Bitcoin Startups: Provides compliance services in the virtual currency industry, including for the New York State Department of Financial Services (NYSDFS) BitLicense. The company has received widespread recognition for its strong Anti Money Laundering capabilities for virtual currencies, offering Bitcoin Money Service Businesses (MSBs) an effective platform to comply with the requirements of the Bank Secrecy Act and operate legally in the United States.^{[14][15][16][17][18][19][20][21]}
• Merchant Risk and Underwriting: Assesses risk presented by merchants during the on-boarding process, and then provides continuous monitoring and automated alerts.^[22][23][24]
• Sanctions Screening: Screens for politically exposed persons (PEP) against government watch lists.^[25]

References

1. "The Dirt: IdentityMind Global opens Spokane Valley office" The Spokesman-Review. Retrieved 19 August 2015.
2. "Benhamou Global Ventures | Identity Mind". benhamouglobalventures.com. Retrieved 1 September 2015.
3. "IdentityMind Global Garners New Funding Round | Xconomy". Retrieved 1 September 2015.
4. "IdentityMind Global | Money20/20". www.money2020.com. Retrieved 1 September 2015.
5. "Lakewood & Company leads round for IdentityMind Global". Retrieved 1 September 2015.
6. "IdentityMind Global, Inc.: Private Company Information - Businessweek". Businessweek.com. Retrieved 1 September 2015.
7. "IdentityMind Global, Inc.: Private Company Information - Businessweek". Businessweek.com. Retrieved 1 September 2015.
8. "IdentityMind Augments Coverage of Identity Verification and Introduces Anti-Fraud Support for Affiliate and Mobile Traffic" PRWeb™. Retrieved 19 August 2015.
9. "Mozido Invests in IdentityMind Global, Forms Partnership for Unprecedented Fraud Protection in Mobile Commerce". Retrieved 1 September 2015.
10. "ID Analytics and IdentityMind Partner to Reduce Online Fraud and Stop Merchant Account Creation Fraud - LifeLock - Press Room". Retrieved 1 September 2015.
11. "IdentityMind Anti Fraud and Risk Management Platform - Magento Connect". www.magentocommerce.com. Retrieved 1 September 2015.
12. "IdentityMind Global Receives Safe Harbor Certification and Expands Anti-Money Laundering Solutions for Cryptocurrencies and Money Transmitters Worldwide" PRWeb™. Retrieved 19 August 2015.
13. "IdentityMind Global™ Receives Safe Harbor Certification and Expands Anti-Money Laundering Solutions for Cryptocurrencies and Money Transmitters Worldwide" PRWeb™. Retrieved 19 August 2015.
14. "IdentityMind Global™ Provides Bitlicense Compliance for Digital Currency Administrators, Exchanges, and Traders" CoinDesk. Retrieved 19 August 2015.
15. "IdentityMind Global™ Advises on BitLicense Compliance" Inside Bitcoins. Retrieved 19 August 2015.
16. "IdentityMind Global™ Announces 25th Bitcoin Client, Demonstrating Value of Compliance Platform for Virtual Currency Businesses" PRWeb™. Retrieved 19 August 2015.
17. "Cryptocurrency Firms Aim to Shed Rogue Image". American Banker. Retrieved 1 September 2015.
18. "Identitymind Launches Low-Cost Compliance Services for Bitcoin Startups". Retrieved 1 September 2015.
19. "AlphaPoint Partners With IdentityMind To Launch Exchanges At Speed". Retrieved 1 September 2015.
20. "IdentityMind Expands Bitcoin Compliance Technology to EU - July 24, 2014 CardNotPresent.com". 1 September 2015. Retrieved 2015-09-01.
21. "Risk management company expands coverage of AML product for cryptocurrencies". Retrieved 1 September 2015.
22. "The DeRisk Survival Guide: Banking High Risk Merchants while Maintaining Compliance" American Banker. Retrieved 1 September 2015.
23. "IdentityMind Global Announces Merchant Sentinel, A Cost Effective Compliance Program for Banks Servicing High Risk Merchants". Retrieved 1 September 2015.
24. "IdentityMind Global releases IDMPay payment service for online merchant accounts". www.thepaypers.com. Retrieved 1 September 2015.
25. "IdentityMind Version 1.20 Delivers Optimized Operations for Financial Crime Analysts and Compliance Officers" PRWeb™. Retrieved 27 August 2015.

External links

• Company Website