Refinitiv has integrated World-Check and the EPIC platform from GIACT, which it acquired late last year, behind a single API, bringing together the former’s risk intelligence data and the latter’s ability to positively identify and authenticate customers in the fight against fraud and risk-related threats.
“For over a decade, legacy solutions have failed to adequately protect financial institutions, businesses and consumers from identity and payments fraud,” says James Mirfin, global head of digital identity and fraud solutions at Refinitiv. “Combining the power of the EPIC platform and World-Check into a single comprehensive solution eliminates gaps in the fraud prevention process, helps protect financial institutions, businesses, government entities and others against the latest fraud threats, and improves customer experience through real-time, fact-based decisioning.”
The single API solution is designed to offer an holistic approach to fraud and risk, covering the customer lifecycle from enrollments, payments, change events and compliance, to ongoing KYC and due diligence.
It provides access to: a real-time network of identity verification, authentication services and compliance screening; an holistic set of enrollment, payment, identity, compliance, screening, and mobile solutions on a single platform; the ability to proactively identify and mitigate traditional and emerging risks, including payments, identity and vendor fraud, as well as money laundering, bribery and corruption; and enforcements and fines. It also addresses newer and more sophisticated fraud threats, including identity theft, synthetic identity fraud, true name fraud, account takeover, and business email compromise.