Refinitiv, a London Inventory Alternate Group Enterprise, Reveals that EPIC Platform from GIACT, World-Verify Now Accessible by way of API

Refinitiv, one of many largest suppliers of economic markets information and infrastructure globally, reveals that the EPIC Platform from GIACT and World-Verify at the moment are collectively and accessible by way of a single API.

As talked about in a launch, the mixing brings collectively the chance intelligence from World-Verify with the potential of GIACT to offer a “multi-dimensional” view of client and enterprise id, funds, and compliance threat, “throughout the shopper lifecycle.”

The announcement additionally famous that nearly half (47%) of US-based shoppers have been affected by id theft through the previous couple years, with ensuing losses growing 42% YoY to $712.four billion final yr, in accordance with Aite Group.

Concurrently, each typical and rising fraud threat, together with complicated compliance necessities, has “delivered document monetary losses and reputational threat to organizations throughout virtually each {industry},” the announcement revealed.

The replace from Refinitiv additional famous that the mixing is about “to handle all method of fraud and risk-related threats and inefficiencies by combining industry-leading options right into a single API that may be deployed throughout a company.”

James Mirfin, World Head of Digital Id and Fraud Options at Refinitiv, said:

“For over a decade, legacy options have did not adequately shield monetary establishments, companies and shoppers from id and funds fraud. Till immediately, nobody has been in a position to ship a fraud and threat mitigation resolution that spans the shopper lifecycle.”

James added:

“Refinitiv responded to the {industry}’s calls by combining the facility of the EPIC Platform and World-Verify right into a single complete resolution that eliminates gaps within the fraud prevention course of; helps shield monetary establishments, companies, authorities entities and others in opposition to the most recent fraud threats; and improves buyer expertise by way of real-time, fact-based decisioning.”

By a “customizable, single API,” organizations shall be “outfitted” with the next advances:

• Refinitiv’s expertise and entry to a real-time community of id verification, authentication companies and compliance screening
• Entry to enrollment, cost, id, compliance, screening, and cellular options constructed on a single platform
• Capability to proactively establish and mitigate each conventional and rising dangers, together with funds, id and vendor fraud; cash laundering, bribery and corruption; in addition to enforcements and fines
• Capability to handle newer, extra subtle fraud threats, together with id theft; artificial id fraud; true title fraud; account takeover; enterprise e mail compromise; and others.
• The potential to higher appeal to and retain clients, safeguard their reputations, and shield provide chain and vendor relationships.

GIACT, a Refinitiv firm, goals to help companies with positively figuring out and authenticating purchasers.

Since 2004, GIACT has been “empowering companies throughout all industries with data-driven insights to forestall id and funds fraud and enhance compliance procedures, all by way of a single platform — the EPIC Platform.”

As beforehand reported, Refinitiv, an LSEG (London Inventory Alternate Group) enterprise, is among the  largest suppliers of economic markets information and infrastructure.

With $6.25 billion in income, 40,000+ clients and 400,000 finish customers throughout 190 nations, Refinitiv is “powering contributors throughout the worldwide monetary market.”

The corporate supplies data, insights, and expertise that “allow clients to execute vital investing, buying and selling and threat choices with confidence.” By combining a novel open platform with the suitable information and experience, Refinitiv connects folks with selection and alternative – “driving efficiency, innovation and progress for our clients and companions.”