Technology |Red Flags Solution

Wiz Sentri™: RiskID Makes Red Flags Compliance Easy

Developing appropriate policies and procedures is a critical step in creating your FACT Act Red Flags program-however this alone won't deliver compliance. For most institutions, it will be imperative to implement an automated solution that will enable you to detect and respond to all of the Red Flags for both new and existing accounts.

Wiz Sentri: RiskID - Our Fact Act Red Flags Solution

Wiz Sentri: RiskID is a comprehensive set of tools that will enable you to detect and respond to all of the Red Flags for both your new and existing accounts. In addition to automating ID Verification and ID Authentication, RiskID facilitates the investigation and documentation of all findings, enabling complete compliance with the new regulations.

Details:

Wiz Sentri: RiskID is a comprehensive CIP verification and account/ employee profiling solution that provides the framework to detect, prevent, and mitigate identity theft in connection with new and existing accounts. Key features and functionality include:

• Assessing the identity risk of your account applicants
• Verifying individual and business identities
• Screening applicants and account holders against government watch and other lists
• Risk rating customers at account opening
• Automating Customer Due Diligence (CDD)
• Authenticating customer identities
• Performing appropriate recordkeeping
• Account and employee profiling
• Ongoing activity monitoring
• Case management

To see how our Fact Act Red Flags solution will work – see the graphic below (click to enlarge)