Melissa, a leading provider of global contact data quality and identity verification solutions, today announced its strategic partnership with Scanovate, a digital identity management platform bringing dynamic, real-time tools to compliance initiatives. Scanovate empowers businesses to interact with mobile device users, offering frictionless onboarding while meeting compliance concerns as the first step in managing risk. Melissa's data quality and identity assurance technologies are pre-integrated into the Scanovate platform, powering trusted relationships, entity resolution, and compliance in areas of Anti-Money Laundering (AML), fraud prevention, and Politically Exposed Persons (PEP), as well as Office of Foreign Assets Control (OFAC) and Bank Secrecy Act (BSA) regulations.
Scanovate's identity management platform is an automated tool that enables compliance officers to streamline and accelerate processes, delivering exponential cost savings and faster time-to-value across the enterprise. While manual onboarding may take as long as 96 hours, Scanovate can complete the process in eight seconds.
"The synergy behind this partnership is demonstrated by the convenience, cost-effectiveness, and fast deployment available to end-users worldwide. Our identity management tools now extend beyond KYC efforts to verify data, and align nicely with Scanovate's proprietary technologies for additional services such as passport scanning and validation," said Bud Walker, vice president, enterprise sales and strategy, Melissa. "Together we're addressing the need for real-time service, ensuring compliance with active data quality that enables a 360 degree view of the customer."
Scanovate's technology set includes optical character recognition (OCR) technology distinguished by its 99.7 percent accuracy rate, unique on the onboarding landscape. Scanovate's proprietary facial biometric engine connects an individual to a document via a live spoof-tested video selfie, providing users with a fast and secure way to access and engage with personal or sensitive data.
"Scanovate is reinventing the way people control their identity by revolutionizing dynamic identity asset management," said Izhar Arieli, CEO, Scanovate. "Our joint venture with Melissa provides financial institutions with an intuitive and automated GDPR-compliant solution that spearheads the digital verification, identification, and authentication sphere."
Since 1985, Melissa has specialized in global intelligence solutions to help organizations unlock accurate data for a more compelling customer view. More than 10,000 clients worldwide in arenas such as retail, education, healthcare, insurance, finance, and government, rely on Melissa for full spectrum data quality and ID verification software, including data matching, validation, and enhancement services to gain critical insight and drive meaningful customer relationships.
Scanovate, the world's leading Identity Management Company, provides a comprehensive management platform for financial institutions. The Platform ensures the ability to manage the identity regulation based activity of any financial institution. Scanovate uses its proprietary Dynamic Imaging Platform and Facial recognition technology to perform onboarding and KYC from the front-end while delivering a back-end platform to manage the compliance and risk activity in an all-encompassing end to end solution. These abilities tremendously reduce the risk of the service provider while keeping customer satisfaction at a high. The unique combination of a robust front-end open platform combined with a comprehensive Back-end platform that actively monitors and manages the compliance activity makes Scanovate the best technology for financial institutions.
Read the full article: https://globenewswire.com/news-release/2018/06/20/1526891/0/en/Melissa-and-Scanovate-Form-Strategic-Partnership-for-Mobile-Identity-Management.html