18 October 2017
visit www.response.ncr.com

Virgin gets compliant with Experian money laundering system

15 August 2002  |  5448 views  |  0 Virgin gets compliant with Experian money laundering system

Virgin Money is using Verifier for Money Laundering (e-VML), a real-time online service from Experian to comply with 'know your customer' anti-money laundering rules.

The UK-based personal financial services group is using the e-VML system to check and authenticate the identity of new ISA and pension customers as part of the online application process. The company says it is automatically accepting between 83-85 per cent of applications for ISAs received online and remotely over the telephone without recourse to paper-based proofs of identification.

Kevin Tomlinson, money laundering reporting officer at Virgin Money, says: "The system has cut back on unnecessary paperwork and time-consuming administration allowing, us to focus on delivering real-time, online acceptance to our customers in a non-intrusive manner."

The e-VML solution from Experian accesses a range of data sources and fraud matching software to check the bona fides of applicants.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Experian forms anti-fraud division

Experian forms anti-fraud division

06 August 2002  |  3419 views  |  0 comments
UK banks extend crackdown on money laundering

UK banks extend crackdown on money laundering

15 July 2002  |  3856 views  |  0 comments
Sumitomo Mitsui ensures Patriot Act data compliance with Sybase

Sumitomo Mitsui ensures Patriot Act data compliance with Sybase

09 July 2002  |  3767 views  |  0 comments
Huntington tackles money laundering with ACI fraud detection software

Huntington tackles money laundering with ACI fraud detection software

09 July 2002  |  5813 views  |  0 comments
Experian and Yodlee enter credit reporting/aggregation partnership

Experian and Yodlee enter credit reporting/aggregation partnership

08 July 2002  |  3537 views  |  0 comments
Financial firms have no faith in anti-money laundering software

Financial firms have no faith in anti-money laundering software

05 July 2002  |  4330 views  |  0 comments
Experian wins The Associates CRM contract

Experian wins The Associates CRM contract

05 July 2002  |  2811 views  |  0 comments
Wells Fargo selects Searchspace anti-money laundering software

Wells Fargo selects Searchspace anti-money laundering software

17 June 2002  |  8718 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15134 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8350 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7852 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7271 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6429 views comments | 8 tweets | 16 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job