e-identitycheck provides a means of complying with regulatory and industry guidance on money laundering by providing a comprehensive customer verification process.

The key to this capability is its access to the 440 million consumer information records in Experian's database, which is the largest in the UK. This is further enhanced by Experian's powerful Detect processing which highlights identity fraud.

Credit and financial institutions can use e-identitycheck to process any transaction where there is a risk of money laundering, using standard customer supplied information as the basis of the verification. The institution can use the results in their decision to drastically reduce their exposure to money laundering.

What does e-identitycheck do?

• Determines whether the customer exists by using independent data sources to confirm the validity of the information they provide.
• Checks that the customer is who they say they are by using Experian's unique verification process.
• Displays the level of customer verification for each data source summarised by a scored authentication index.

What are the benefits for credit and financial institutions?

• Identifies up to 90% of identity fraud, which could be a sign of money laundering.
• Eliminates the need to ask intrusive questions since it uses information already provided by the customer.
• Works online and in real-time, so it doesn't increase the application processing time.
• Facilitates compliance with current money laundering regulations by providing a risk-based solution to customer verification.
• Low cost-no minimum volume commitment and you only pay the quarterly support fee plus, the transaction price for the searches you perform.
• Allows remote transaction processing and improves customer service by removing the need for documentary proofs of address and identity.