iSignthis - Know Your Customer - The DNA of a Payment Message
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Transcript of iSignthis - Know Your Customer - The DNA of a Payment Message
“A simpler, faster and safer iden1ty experience“
1 iSignthis © 2014
iSignthis Ltd (ASX : ISX) Outline April 2015
2 iSignthis © 2014
We are an iden1ty company, providing solu1ons for • Global, KYC Regulated En>>es : Remote, fully automated, An1
Money Laundering / Counter Terrorism Funding customer due diligence compliance / know your customer (KYC) for both consumer and merchant on-‐boarding.
• European Union PSP’s : Online Payment Authen1ca1on to mandatory ECB/EBA 1st Aug 2015 compliance requirements.
• Global PSP or Merchants: Commercial an1fraud solu1ons for online Merchants leveraging above exper1se.
Who is iSignthis Ltd?
3 iSignthis © 2014
Iden>ty Proofing (PATRIOT ACT / AML KYC / Sec>on 6 EBA)
Verify the iden1ty of three billion customers to an interna1onal standard in 190 countries
Leverage off due diligence done by banks
Authen1cate online payments across more than 30 card schemes
Eliminate manual Know Your Customer (KYC) processes
A new iden1ty authen1ca1on system
iSignthis © 2014
Cloud based, patented technology
PATENTS FILED PATENTS GRANTED PATENTS PENDING
Canada Britain
Singapore
India Hong Kong
China
Malaysia
New Zealand
PEP/Sanc1ons Screens:
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Link iden1ty and two factor authen1ca1on (2FA) system used tosecure card payments
Real 1me analy1cs incorpora1ng US, UK, EU, UN, Canadian and Australian official lists to screen for money laundering and fraud
No requirement to ID a customer separately. Government and Private sector applica1ons.
Authen1cate online payments to iden1fy customers & eliminate fraud
iSignthis © 2014 5
Strong Customer Authen1ca1on (SCA):
2 Evidence of Iden1ty (EOI) for KYC/CTF and eID:
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• EU based payment processors : compliance requirement for AML KYC & /or ECB SecuRE Pay. • eMerchants in the SEPA/EU28 as part of the ECB’s Strong Customer Authen1ca1on.
• Stock Brokers • Financial Advisors/Super Funds • Financial Systems requiring two factor authen1ca1on technology • Banks (incl debit, card issuers) • Commodity/Bullion Brokers/Currency • Crypto Currency Exchanges (e.g. bitcoin)
• Real Estate Sales/Rental Agents • Travel Agents (US Patriot Act) • Life Insurers • Accountants/Auditors/Lawyers
• eWallets/mWallet Providers • Money remihance services/p2p • Loan/Pawn Providers • eCasino/eGaming/eWagering • Any business rou1nely trading > US $10k/transac1on
Global market with a scalable cloud based business model
6 iSignthis © 2014
Primary Market
Financial
Professional services
Others
Customer Ease
Lower Cost
iSignthis © 2014
LOCAL
AUTOMATED
MANUAL
�
Disrup1ve technology creates evidence of iden1ty
iSignthis © 2014
Notarised: posted/uploaded documents*
‘Experian’ or ‘Veda’ style sta1c, credit database search (UK, US, AU)
Face to face checks
iSignthis
GLOBAL
• No dynamic means to include customer on request if not already a historic customer of a credit repor1ng agency. • Requires cross check of other databases. • Typical coverage of 60% of online applicants
• >3Bn accessible global payment instruments. • No need for user’s disclosure of bank details to a third party.
Lower Fric1on
Remote on boarding
iSignthis © 2014�
Cost of iden1ty authen1ca1on
iSignthis © 2014
LOCAL
AUTOMATED
MANUAL
Notarised: posted/uploaded documents*
‘Experian’ or ‘Veda’ style sta1c, credit database search (UK, US, AU)
Face to face checks
iSignthis
GLOBAL X
X Cf. EXISTING PROCESS • Notarise Documents (1 hour+$100-‐$200) • Registered Post Documents ($20-‐$40)
• Back Office Processing of KYC ($20-‐30)
• Elapsed Time: 7 -‐ 15 days
iSignthis is GLOBAL • Cross Border • Mul1 Jurisdic1onal Compliance • Automated • Near Real Time/ Customer Self Service
• Single Integra1on/Single System
9 iSignthis © 2015
Creating eKYC and eID
Physical Identification
Proof of Identity Documents
E- Payment Account
(PSD)
Transact on Account &
Verify using KBA
Identifies Person
Collect KYC data & Verify key data
Account is a “Reliable” Source
for EV (AML)
Create E- Identity
Creates further Social Footprint
Sanction Screen + Monitor
(AML) Link to mobile
phone
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Technology
Evidence of Iden1ty Global Card Enrolment
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3 step process:
Acquiring side card enrolment: Simple, fast and Universal authen1ca1on
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SMS Code PINCode Once off Registra1on>
Real 1me iden1fica1on & registra1on Real 1me Authen1ca1on of Subsequent payments
EOI Real Time Analy1cs : Screening & Repor1ng
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SANCTIONED
Issuer Loca1on
OS Language
IIN Data (Standard) Age Verifica1on
PEP & Sanc1ons Lists Screening / repor1ng (UK HM Treasury, EU CSDP, US OFAC, AU DFAT, UN. Op1ons : Interpol, Europol, FBI, DEA MW Lists
Cell Prefix (Standard)
Geoloca1on
Cell Tower Verifica1on
(Op1on)
Address Valida1on
iSignthis Transactional Advantages DNA of a payment message
Payment Data (Merchant, Acquirer, Card Details, Name, Amount, Time, Place, IIN Data + Country of issue)
Authentication + Validation Data (Geodata, device data, SAD, phone
number)
Device Data (MAC, IMEI, CPE, Language, OS)
Network Data : IP Address, Carrier,
Channel, route, Cell Tower
Delivery Data Address, Phone
Under EU law, all of this is PII – identifiable to a person Under US law, taken as a whole, this is also PII – identifies a person.
Transac1on based KYC enrolment: Simple, fast and Universal authen1ca1on
15 iSignthis © 2014
KYC Collec1on Account Verifica1on>
Real 1me iden1fica1on & verifica1on KYC Collec1on and BTC Wallet Nomina1on
• Collect KYC Data
Acquiring side enrolment: Use elements for 2FA
16 iSignthis © 2014
SMS Code PINCode
Can use phone and passcode as 2FA Mobile Phone Verifica1on
17 iSignthis © 2014
Interfacing Real Time Analy1cs : Screening & Repor1ng
Hosted SaaS
Your Website
Javascript #include+ widget
Authorisa1on / Cer1fica1on
which will render into exis1ng page
We manage en1re process
18 iSignthis © 2014
Issuer implements within internet (or phone) banking
Compliments acquiring side enrolment process
PAN and associated mobile
# are sent to iSignthis via secure XML by issuer.
Home banking card enrolment
Both PayPal and iSignthis rely upon similar legal principles to iden1fy customers. iSignthis and Paypal processes are both patented, with the iSignthis user experience being familiar to any of the 148m Paypal users. iSignthis has modified an adapted the process patented in 2002 by PayPal, to include verifica1on of ownership of a financial instrument in near real 1me (0-‐3 vs 3-‐5 days), with addi1onal benefit of specific transac1on authen1ca1on. iSignthis facilitates online iden>ty much like Paypal facilitates online payments.
Isn’t the iSignthis EOI process familiar…?
19 iSignthis © 2014
20 iSignthis © 2014
EU : Marc Bongers [email protected] +31 624 447 841 Mid East / Asia Pac: Andrew Karantzis [email protected] +61 411 428 259
For further informa>on contact: