PreComm ToolKit™ – Real-Time Underwriting and Risk Assessment with Ongoing Risk Monitoring
Deep and thorough knowledge about merchants is crucial before onboarding. The hard part is gathering the information your business needs, and is required by law to obtain, to determine reputable merchants from those who are not.
Merchant acquirers and payment processors are being inundated by Anti-Money Laundering (AML) rules and Know Your Customer (KYC) regulations. The USA Patriot Act and other governmental and card brand regulations require these organizations to implement KYC policies that encompass customer due diligence and risk evaluation.
While regulation is not new, compliance is difficult, if not impossible, especially when businesses like yours must rely on multiple systems and manual processes to collect and analyze merchant due diligence data. The methodology in place today is slow, expensive, time consuming, inaccurate, risky and inconsistent. And to make matters worse, once a risk evaluation is completed and a merchant is onboarded, follow-on risk assessment is virtually never performed again, leaving merchant acquirers and ISOs vulnerable.
PreComm ToolKit addresses these issues and more with real-time underwriting and risk assessment capabilities and ongoing risk monitoring.
PreComm ToolKit is a unique, patent pending, cloud-based intelligence gathering and collating tool that simplifies merchant due diligence and risk evaluation prior to onboarding (pre-commerce).
Information on more than 65 data risk factors is automatically and accurately gathered and assembled from deep, thorough and accurate reviews of private, government and proprietary data sources. In just a few seconds, consolidated findings are available for risk managers to evaluate further.
Accomplish in Seconds What Typically Takes Hours or Days to Perform Manually!
And to top it off, PreComm ToolKit does it over and over again. Merchant risk evaluations are performed on a monthly basis post-boarding, alerting underwriters to merchants deviating from the information their merchant accounts were originally approved on.
Accurately Price & Re-Price Merchants Based on Real-Time Risk Assessments!
Risk Factor Data Intelligence
- Corporate Ownership
- Taxpayer Identification Number (TIN)
- Employer Identification Number (EIN)
- MATCH List
- Terminated Merchant File
- Office of Foreign Assets Control (OFAC)
- Illicit, Prohibited & Illegal Activity
- And Much More…
Merchant Risk & Stress
Automated Merchant Website Scanning
PreComm ToolKit includes the ETA 2017 Technology Innovation Award-Winning InConRadar merchant website scanning tool at no additional charge. InConRadar reviews sites for illegal and / or illicit and prohibited activities as frequently as every 30 seconds.
InConRadar keeps your business in compliance with Visa’s Global Brand Protection Program (GBPP), MasterCard’s Business Risk Assessment and Mitigation (BRAM) compliance program, and Federal Anti-Money Laundering (AML) requirements.
PreComm ToolKit Benefits
- Simplify Underwriting Process
- Get More Intelligence Faster
- Accurately Price & Re-Price Merchants
- Increase Security, Integrity & Efficiency
- Reduce Risk & Fraud Losses
- Save Time
- Save Money
- Increase Revenues
- Protect Your Business