Account Authentication and Verification
New Account Openings
RAMP (Risk Assessment & Mitigation Program) is a single step solution for new account opening assessment. Financial institutions need adaptive tools that meet organizational policies and integrate easily into existing platforms to mitigate fraud and data inconsistencies.
Most financial institution’s needs are twofold.
1. Validate & Authenticate: Validate that an ID is, in fact, a valid form of ID and authenticate that the person using the ID is the person on the ID.
2. Account Risk Verification: Determine risk by evaluating an individual’s positive and negative account history.
RAMP provides solutions that meet these needs and help to keep financial institutions compliant with the new ACH Network Risk and Enforcement Rule that lowered the existing return threshold for unauthorized transactions.