11/16/ Know Your Customer (KYC) How well do you Know Your Customers? Identity - Compliance - Fraud

Know Your Customer (KYC) Rules What is KYC? Governs transactions made by financial institutions with potential clients and customers Ensures that financial institutions and businesses do not knowingly or unknowingly facilitate money laundering Accomplished by organizations through the use of identity verification techniques to establish the true identity of customers from the onset

How do KYC Rules Help Organizations Know Customers? Compliance with Regulations KYC Rules vary by country In the US, the USA PATRIOT Act requires businesses to follow KYC Rules in order to prevent money laundering and/or terrorism financing Fraud Prevention By establishing the identity of customers, organizations ensure that they are doing business with legitimate accountholders This prevents potential fraudsters from accessing products and/or services Ease of Access/Customer Satisfaction By speeding up the process for verifying identities, companies increase customer satisfaction and also make it easier to assess potential risks when processing transactions Customers appreciate the protective measures being taken to safeguard personal information

Effective KYC Diligence To help standardize KYC data collection, organizations can ask a series of questions based on the V3 Challenge: The Variety of data that requires analysis The Velocity at which this data must be analyzed and its rate of change The Vagueness of the data which requires analysis – often conflicting, unclear and biased.

Incorporating Additional Identity Intelligence Organizations need to do more than just remain in compliance Going a step further by incorporating identity verification and fraud prevention tools will help you detect any discrepancies and enable you to dynamically decision off of identity, activity, location and device- based attributes This way you can quickly and automatically open more accounts, lower operating costs, and increase efficiency and revenue – all while preventing fraud and remaining in compliance It’s time to examine your current processes so you can identify room for improvement and find a solution that is tailored to your needs.

IDology’s KYC & Fraud Prevention Platform Identity verification that helps you drive revenue, deter fraud and meet compliance. Advantages you can expect: Drives revenue through faster transaction approvals Decreases costs through reduced manual review processes Promotes customer privacy and protects your business from fraud Provides flexible control for businesses to change rules and criteria settings Helps you meet compliance regulations Improves customer satisfaction by requiring minimal personal identifying information For more information go to

IDology Customer Satisfaction Survey 90 Neutral % 99% 90% 90% Rank their overall experience as very satisfied and satisfied. “I like that I don’t have to think about it much” -Online Training Customer “IDology is constantly working to develop new features and tools.” - Customer, Financial Services “I am impressed by the ongoing commitment to innovation and real service mindset from the company.” - Customer, Banking 99% Rank products & features much better, better or the same as the competition. “I like the customization available for each enterprise and how each verification delivers either a pass or fail result.” -Customer, Prepaid “Solid customer care. Knowledgeable and friendly.” - Customer, Financial Services 88% Would recommend IDology services to other people. Experience Products Advocacy