Merchant Client Onboarding

A ThreatMinder Client Success Story

The Problem: A financial institution wanted insight into potential ecommerce businesses being onboarded.

The Solution:  Implement initial and ongoing fraud risk management utilizing ThreatMinder’s Risk-as-a-Service Solution.

The Challenge:

The financial institution needed a better understanding of the health of these companies and to continuously analyze the businesses for the potential risk across: financial risk, regulatory risk, reputational risk, fraud, liability and compliance. 

The Results:

ThreatMinder implemented both initial and ongoing fraud risk analysis. Our web crawler algorithm searched the individual companies for any evidence of selling illegal or controlled items that could lead to fines for the financial institution. We also analyzed information on their websites, looking for discrepancies that contradicted known information, as well as looking for signs of poor business practices.  

We also put into place ongoing analysis of business health so that the financial institution could ensure compliance in the future, rather than just seeing a snapshot  at the time of onboarding. Our artificial intelligence and machine learning algorithm pulled  information from across thousands of data points and platforms, including open source, corporate, and private sources in real-time to continuously monitor and analyze these businesses.

This ThreatMinder implementation resulted in:

• Higher business growth 

• Lower regulatory issues 

• Higher merchant processing revenues 

• Lower write-offs 

• Pre-knowledge of any potential reputational risk

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