Scanovate digital identity platform integrates Melissa for compliant mobile enterprise engagement
Customer data quality and identity verification company Melissa and digital identity management platform Scanovate have announced a strategic partnership to power trusted relationships, entity resolution, and compliance with anti money-laundering (AML), fraud prevention, Politically Exposed Persons (PEP), Office of Foreign Assets Control (OFAC), and Bank Secrecy Act (BSA) regulations.
Data quality and identity assurance technologies from Melissa are pre-integrated with the Scanovate platform, which automates and streamlines processes and which the company says can reduce on-boarding time from days to as little as eight seconds. Users provide a video selfie, which is spoof-tested and used to associate the individual with a document using Scanovate’s proprietary facial biometric engine to give users a fast and secure way to access and use personal or sensitive data.
“The synergy behind this partnership is demonstrated by the convenience, cost-effectiveness, and fast deployment available to end-users worldwide. Our identity management tools now extend beyond KYC efforts to verify data, and align nicely with Scanovate’s proprietary technologies for additional services such as passport scanning and validation,” said Bud Walker, vice president, enterprise sales and strategy, Melissa. “Together we’re addressing the need for real-time service, ensuring compliance with active data quality that enables a 360-degree view of the customer.”
Scanovate’s technology also includes optical character recognition with an accuracy rate of 99.7 percent, which stands out among onboarding platforms, according to the announcement.
“Scanovate is reinventing the way people control their identity by revolutionizing dynamic identity asset management,” said Izhar Arieli, CEO, Scanovate. “Our joint venture with Melissa provides financial institutions with an intuitive and automated GDPR-compliant solution that spearheads the digital verification, identification, and authentication sphere.”
There have been a wave of partnerships announced to bring compliance capabilities to digital engagement and onboarding platforms this year, including most recently Signicat’s addition of the itsme identity scheme to its platform.