KYC2020 is a single source for comprehensive global Politically Exposed Persons (PEP), criminal, sanction, and terrorist lists for KYC and AML compliance requirements.
IdentityMind’s Version 2.0 sanctions screening solution incorporates public sanctions lists, proprietary lists such as those provided by KYC2020, and eDNA™, IdentityMind’s own proprietary database. The solution uses a variety of powerful algorithms to ensure false positives are reduced while true negatives are not missed. The company’s sanctions screening uses deterministic and probabilistic types of algorithms for matching, and machine learning is used to fine tune and optimize probabilistic matching results. This approach has proven to reduce false positives for clients resulting in operational efficiencies and increased straight through processing.

“We’re pleased to partner with IdentityMind Global, the market’s leading provider of digital identity-based compliance, risk management, and fraud prevention solutions,” said Joseph Iuso, Head of Business Development, KYC2020. “IdentityMind is utilizing our proprietary database-as-a-service offering with access to over 500 global sanction lists to perform KYC and AML sanctions screening and PEP lists to enhance its screening solution.”

“KYC2020 is a leader in delivering a comprehensive and continuously expanding global watch lists,” said Garrett Gafke, CEO, IdentityMInd Global. “Their watch lists complement our industry leading ecosystem of 30 plus strategic partners, all of whom can be accessed through a single, standards-based API. Data integrity is key for IdentityMind and our clients and KYC2020 delivers.” IdentityMInd technology ecosystem includes partners providing device, email, phone, identity, document, sanctions screening, geolocation, biometric, behavioral verification, and more.

The IdentityMind Version 2.0 platform - which is focused on advancing transaction monitoring for anti-money laundering (AML) through the introduction of a user-centric, risk-based approach, which regulators favor - does so while reducing the operational burden associated with sanctions screening. IdentityMind enables strong detection while minimizing false positives.

IdentityMind’s sanctions screening process incorporates public sanctions lists, proprietary lists such as those provided by KYC2020, and eDNA™, IdentityMind’s own proprietary database. IdentityMind’s eDNA database is unique to IdentityMind and contains descriptions of users, businesses, and their relationships to other users and businesses, built over time from digital transactions across the financial ecosystem. These entities (users and businesses) achieve reputations representative of their aggregated behavior through authoritative sources, heuristics, and the lenses of the clients that recorded and evaluated their transactions.

IdentityMind’s eDNA database is unique to IdentityMind and contains descriptions of users, businesses, and their relationships to other users and businesses, built over time from digital transactions across the financial ecosystem. These entities (users and businesses) achieve reputations representative of their aggregated behavior through authoritative sources, heuristics, and the lenses of the clients that recorded and evaluated their transactions.