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Tech Lowdown: SmartSearch, WorkLife, Smart Pension, mGage

This week, our tech round-up features a new TripleCheck KYC and AML solution from SmartSearch, Smart Pension's integration with WorkLife and a new mobile payments service from mGage.

6th Oct 2020
Staff Writer AccountingWEB
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SmartSearch launches KYC and AML solution

Anti-money-laundering (AML) specialist SmartSearch has released TripleCheck, a digital know your customer (KYC) and anti-money laundering solution.

TripleCheck uses three verification methods:

  • Level 1 – Identification and Verification with sanctions and PEP screening SmartSearch’s basic identity verification system uses credit reference agency data and the Dow Jones Global Watchlist to run AML checks with automatic sanctions and politically exposed persons (PEP) screening. Only a name, address and date of birth are required. AI logic triggers due diligence on any matches and resolves false positives.
  • Level 2 – Facial recognition, document capture and liveness appraisal Optical character recognition (OCR) is combined with the latest biometric facial recognition techniques. An algorithmic check applies biometric detection to verify customer selfie liveness videos. The process compares the real person with the document provided to prove the image and information are genuine.
  • Level 3 – Digital fraud checks with data referencing and triangulation Digital Elements (DEs) like mobile phone numbers, email and IP addresses are used to build fraud risk indicators and deliver an overall risk score. A dashboard offers information to back additional due diligence, and prompt further investigation of high-risk events. SmartSearch TripleCheck then matches the DEs to the individual’s terrestrial address and credit rating , ID and imaging data to create a composite digital identity (CDI).

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WorkLife partners with Smart Pension

Employee benefits service WorkLife has integrated savings plans from Smart Pension into its online platform. As part of the deal, Smart Pension is available to WorkLife’s customers at a reduced rate.

“Smart Pension is different from any of the other pension providers we spoke to. Its focus is on financial wellbeing, making pensions more understandable so that workers can take control of their retirement planning,” said WorkLife managing director Rob Marshall.

“This is the same ethos that runs through WorkLife and OpenMoney. Workers are increasingly turning to their employers as a point of trust when looking for guidance around important issues such as money. A pension is a vital foundation stone in everyone’s finances and workplace pensions make it much more straightforward for people to start saving for their retirement, so it’s important that small businesses offer their workers the best pension they can.”

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mGage delivers mobile payments messaging solution

Global messaging provider, mGage has introduced mobile payments within its rich communication services (RCS) channel, which integrates with UK mobile networks. 

“RCS is now a truly conversational commerce channel that brings innovative and new ways for brands to monetise their services and allow for purchases to be made seamlessly within the RCS messaging app,” said mGage VP Europe Nick Millward.

“By working closely with UK Mobile Operators and Regulators, charities and enterprises alike now have access to a game-changing solution that will enable them to offer fast and seamless payment journeys for additional services without compromising on the customer experience.”

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