AML Partners and Converus join strategic partnership to boost Risk mitigation


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IdentityDetectTM integrated with AML Partners’ Risk-mitigation software solutions

  • Identity verification is a cornerstone of high-quality KYC/AML Compliance efforts. With the integration of Converus’ IdentityDetect in AML Partners’ RegTech One platform and its SURETY Eco AML ecosystem, financial institutions gain powerful new leverage in their high-stakes efforts to verify the identities of prospective customers.
  • AML Partners and Converus’ efforts to Integrate top technologies into RegTech platform via API interfaces epitomize the agility and responsiveness of today’s best RegTech innovations—innovations like RegTech One, IdentityDetect, and SURETY Eco.

With a new strategic partnership in place, Converus’ AI-based IdentityDetect is now available on AML Partners’ software solutions for Risk Mitigation. The launch of IdentityDetect on RegTech OneTM and SURETY EcoTM, the AML Ecosystem, will benefit financial institutions’ Compliance efforts.

IdentityDetect is the first browser-based identity verification technology that accurately detects fake identities in about one to three minutes by analyzing variations in the motor nervous-system responses of examinees.

“Partnering with AML Partners is a vital step in making IdentityDetect part of every KYC and transaction verification process,” said Converus President and CEO Todd Mickelsen. “IdentityDetect’s added layer of security quickly and seamlessly integrates into any existing onboarding and transaction processes, such as AML Partners’ software. It could potentially save financial services organizations millions of dollars by correctly verifying if a customer is deceptive about their identity at any point in a workflow process.”

The addition of Converus’ AI-based IdentityDetect is a great example of the power of integrating top technology via APIs—with a relatively simple API interface, IdentityDetect on the RegTech One platform can be easily integrated into the KYC/CDD identity resolution efforts of financial institutions.

AML Partners’ RegTech One platform provides for financial institutions a new and extraordinarily powerful approach to their Compliance and horizontal governance efforts. By facilitating the creation of a Network of Applications and an Ecosystem of Data, RegTech One lets customers leverage their multiple applications in an integrated manner. AML Partners’ SURETY Eco is a great example of that: Powered by RegTech One, SURETY Eco integrates KYC/CDD, Behavior Monitoring, Sanctions Screening, and FinCEN 314a for end-to-end AML Compliance.

Frank Cummings, CEO of AML Partners, describes the benefits of this strategic partnership to institutions for whom identity resolution is a huge concern: “With AI-based identity resolution technology, we are finally able to get to the ground truth of individuals’ identities. With this technology, there will be fewer shell companies and money launderers sneaking into the global financial system,” Cummings said. “Converus’ IdentityDetect is a great addition to our RegTech One platform. With these technologies, our customers have powerful new tools to achieve not only KYC/AML Compliance but better horizontal governance.”

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About AML Partners, LLC: AML Partners is a Behavioral Risk software-development and consulting firm. AML Partners specializes in RegTech platform technology for eGRC and in Comply on the Fly™ software solutions for Anti-Money Laundering and Countering Terrorist Financing (AML/CTF). AML Partners’ expertise in AML/CTF, RegTech, Risk Management, Workflow Processes, and Software Development drive its delivery of software solutions uniquely tailored to the needs of financial institutions and other enterprise clients with eGRC concerns. Visit: amlpartners.com

About Converus: Converus provides scientifically validated credibility assessment technologies. EyeDetect® detects deception at 86% accuracy in 30 minutes by analyzing eye and other behaviors. IdentityDetect™ detects falsified identities at 91% accuracy in 1-3 minutes by analyzing subtle variations in the motor nervous system responses. IntegrityDetect™ identifies the most trustworthy individuals with 80% accuracy in 6 minutes by analyzing a person’s implicit associations. These technologies help protect countries, corporations and communities from corruption, crime and threats. Converus is headquartered in Lehi, Utah, USA. Visit: www.converus.com.