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SmartSearch launches TripleCheck

Jake Carter

September 10, 2020

SmartSearch has launched TripleCheck, a digital ‘Know Your Customer’ (KYC) and AML solution.

The software combines three verification methods to set a new standard in AML security, according to the company.

‘Level 1’ is electronic identity verification. Using a name, address and date of birth, the system uses dual-bureau credit reference agency (CRA) data and the Dow Jones Global Watchlist to perform a full AML check, with automatic sanctions and politically exposed persons (PEP) screening.

Moving on to ‘Level 2’, this step combines optical character recognition (OCR) and the biometric facial recognition techniques to provide a true picture of a customer.

The technology performs an algorithmic check on photo ID documents to ensure they are authentic.

Then, using a customer ‘Selfie Liveness Video’ (SLV), it uses biometric and liveness detection to compare the ‘real person’ with the document provided to ensure the image and information is genuine.

Furthermore, ‘Level 3’ utilises various Digital Elements (DEs) such as mobile phone numbers, email and IP addresses, to create robust and easy-to-understand fraud risk indicators and deliver an overall risk score.

The SmartSearch TripleCheck technology then ‘triangulates’ this information, matching the DEs to the individual’s terrestrial address and enabling the CRA data, ID document and SLV imaging to be bound together to create a unique Composite Digital Identity (CDI).

John Dobson, chief executive of SmartSearch, said: “Our mission is to make AML compliance easy, While the technology behind TripleCheck is highly advanced, the interface and the outputs have been designed with user-friendliness in mind, meaning staff at any level can successfully perform a SmartSearch TripleCheck.

“By combining three sophisticated verification processes into one powerful tool, we have created the most powerful, robust and reliable all-in-one AML platform on the market.”


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