Equifax KYC Solutions from Equifax

Identity verification and KYC compliance solutions leveraging credit bureau data. Includes identity authentication, document verification, business verification, and ongoing monitoring with risk assessment based on proprietary data sources and customizable compliance workflows.

Is this your product?

More about Equifax

Product analysis by function

Know Your Customer (KYC) for Compliance

Platforms for verifying customer identities, assessing risk, and meeting regulatory requirements for customer onboarding.
More Know Your Customer (KYC) More Compliance ...

Identity Verification
(4 Yes /5 Known /10 Possible features)

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
(8 Yes /8 Known /10 Possible features)

Data Security & Privacy
(8 Yes /8 Known /10 Possible features)

Regulatory Compliance & Reporting
(6 Yes /6 Known /10 Possible features)

User Experience & Onboarding
(4 Yes /4 Known /10 Possible features)

Integration & Interoperability
(7 Yes /7 Known /10 Possible features)

Fraud Detection & Prevention
(6 Yes /6 Known /10 Possible features)

Monitoring & Ongoing KYC
(9 Yes /9 Known /10 Possible features)

Analytics & Reporting
(9 Yes /9 Known /10 Possible features)

Scalability & Performance
(3 Yes /3 Known /10 Possible features)

Vendor Support & Maintenance
(5 Yes /5 Known /10 Possible features)

Compare

This data was generated by an AI system. Please check with the supplier. While you are talking to them, remind them that they need to update their entry.

Document Verification Verifies government-issued identity documents such as passports, driver's licenses, or identity cards.		Equifax states it provides document verification for identity as part of its KYC offerings.
Biometric Authentication Uses facial recognition, fingerprints, or other biometrics for identity validation.		Not as far as we are aware.* No evidence that Equifax offers biometric authentication in its KYC offering. Focus is primarily on document and data verification.
Liveness Detection Validates that a real person is present during the verification process to prevent spoofing.		No information available
Data Cross-Checking Automatically cross-checks customer data against third-party databases or watchlists.		KYC solutions leverage credit bureau data and other external watchlists for customer validation.
Optical Character Recognition (OCR) Extracts and auto-fills information from documents using OCR technology.		No information available
Verification Speed Average time taken to verify identity documents and update status.		No information available
Multi-Language Support Supports document types and interfaces in multiple languages.		Equifax serves global clients, indicating support for multiple languages, especially for document validation.
Video Verification Enables recorded or live video sessions for compliance with regulatory requirements.		Equifax KYC offers live/recorded agent-assisted video KYC for regulatory compliance in certain markets.
Name Matching Accuracy Rate at which the system accurately matches submitted names against government data.		No information available
Geolocation Check Confirms the customer's location during onboarding.		No information available

Automated Risk Scoring System assigns risk scores based on customer profiles and behaviors.		Risk scoring and profile assessment mentioned in KYC solution brief.
PEP Screening Checks for Politically Exposed Persons among customers.		PEP screening is a standard compliance feature included as part of due diligence.
Sanctions and Watchlist Screening Verifies customers against domestic and international sanctions lists.		Sanctions and watchlist screening referenced in Equifax compliance descriptions.
Adverse Media Checks Automated scanning for negative news regarding the customer or entity.		Adverse media checks and negative news screenings discussed in product materials.
Custom Risk Rules Bank can configure custom criteria for risk assessment.		Custom compliance and risk rules can be configured as per client and regulatory needs.
Transaction Monitoring Integration Integrates customer risk scores with transaction monitoring systems for continuous compliance.		Transaction monitoring is integrated for continuous compliance and risk assessment.
Ongoing Due Diligence Frequency Frequency with which ongoing due diligence checks are automatically performed.		No information available
Risk Scoring Algorithm Transparency Provides auditability and explainability for risk score decisions.		Equifax advertises transparency and auditability of its risk scoring engine.
Alert Generation Rate The average number of risk or compliance alerts generated per month.		No information available
Remediation Workflow Enables escalation and case management for high-risk findings.		Case management and escalation for compliance is available through customizable workflows.

Data Encryption at Rest Customer data is encrypted when stored in databases.		Data security features include encryption of data at rest as part of Equifax enterprise security.
Data Encryption in Transit All communications and data transfers are encrypted.		Data in transit is encrypted per modern compliance and enterprise IT standards.
Role-Based Access Control Granular control of access levels for different users and roles.		Role-based access control implemented for enterprise/financial solutions.
Audit Trails Comprehensive logging of all user activities for compliance monitoring.		Enterprise solutions include audit trails for compliance.
Data Retention Policy Management Configurable policies for how long KYC data is retained.		Data retention policies are noted for compliance with regulations.
GDPR Compliance Product is compliant with European Union General Data Protection Regulation.		Equifax explicitly states GDPR compliance for its KYC platforms.
Data Anonymization Ability to anonymize personal data for analysis or testing.		No information available
Consent Management Mechanisms for capturing and tracking customer consent for data usage.		Consent management for data processing is managed to align with global/regional requirements.
Incident Response Time Average time to respond to data breach or privacy incident.		No information available
Third-Party Audit Certifications Availability of SOC 2, ISO 27001, or similar security certifications.		Third-party audits (SOC/ISO 27001) are standard for Equifax's compliance solutions.

Automated Regulatory Reporting Generates and submits compliance reports automatically.		Automated regulatory reporting is a specified component of Equifax KYC.
Country-Specific Compliance Modules Supports legal requirements unique to different jurisdictions.		Country-specific compliance modules referenced for key geographies.
Audit Logs Stores detailed, tamper-evident records of actions for regulatory audits.		Solutions provide comprehensive audit logs for regulatory review.
Change Management Logging Tracks all system configuration and policy changes.		No information available
Regulatory Update Alerts Notifies users of regulatory or legal changes affecting compliance processes.		No information available
SAR/CTR Filing Automation Supports Suspicious Activity Report (SAR) and Currency Transaction Report (CTR) generation and filing.		Automated SAR/CTR filing support referenced in financial crime compliance capability.
Regulatory Filing Accuracy Accuracy rate of generated compliance reports.		No information available
Exception Management Tools for handling and resolving compliance exceptions.		No information available
Compliance Dashboard Central dashboard displaying current regulatory status and key compliance metrics.		Compliance dashboard cited as a feature in KYC overview.
E-signature Support Allows digital signing of regulatory documents.		Electronic signature support is commonly included for regulatory agreements.

Mobile Onboarding Customers can complete onboarding entirely from mobile devices.		Equifax emphasizes seamless digital onboarding including for mobile users.
Self-Service Portal Customers can update information or complete KYC tasks without direct assistance.		Self-service onboarding and KYC portals described in product literature.
Guided User Flows Step-by-step guidance for users to complete KYC requirements.		No information available
Status Tracking Customers and bank staff can track the status of KYC verification in real time.		No information available
Multilingual Interface User interface available in multiple languages for diverse populations.		Equifax products support multilingual interfaces for global deployment.
Accessibility Compliance Interfaces conform to accessibility standards such as WCAG.		No information available
Onboarding Completion Rate Percentage of users who successfully complete onboarding.		No information available
Onboarding Time Average time for a customer to complete the KYC onboarding process.		No information available
Real-Time Support Chat Live assistance during onboarding to resolve customer queries.		No information available
Custom Branding Ability to brand the onboarding interface with the bank’s logo and colors.		Whitelabeling and client branding is supported for enterprise integration.

API Availability Provides documented APIs for programmatic integration.		APIs are a core part of the KYC integration solution.
Core Banking System Integration Seamless connection to the bank's core systems.		Integration to core banking systems is highlighted in solution briefs.
Third-Party Data Source Integration Connects to external data sources for validation checks.		Uses own and third-party data sources for verification.
Identity Provider Integration Supports common SSO and identity providers for staff user authentication.		No information available
Webhook Support Triggers real-time notifications to other platforms via webhooks.		No information available
Batch Upload/Processing Supports bulk uploads and processing for large volumes of KYC requests.		Batch uploading and processing described for large onboarding volumes.
Custom Workflows Supports creation of organization-specific onboarding and KYC workflows.		Custom workflows can be designed to match client process.
Data Export Options Multiple export formats (CSV, XML, JSON) for KYC data.		Data export options in multiple formats referenced for reporting.
Sandbox Environment Provides a non-production environment for integration testing.		Sandbox/non-production environments available for integration.
Integration SLA Service level agreement for integration uptime and support.		No information available

Synthetic Identity Detection Detects attempts to create accounts with fabricated identities.		Equifax’s fraud detection toolkit includes synthetic identity detection.
Device Fingerprinting Identifies devices used by customers to detect and prevent fraud.		No information available
IP Reputation Analysis Assesses whether a customer's IP address is associated with suspicious activity.		IP reputation analysis discussed in advanced fraud prevention suite.
Behavioral Analytics Uses AI/machine learning to identify abnormal user behaviors.		Behavioral analytics powered by AI/ML are referenced for abnormal activity detection.
Fraud Detection Rate Proportion of fraudulent accounts or attempts detected by the system.		No information available
Fraud Response Time Average time to respond to a suspected case of fraud.		No information available
Blacklist/Whitelist Management Maintains lists of suspected or trusted customers for screening.		Blacklist/whitelist screening and management offered as part of fraud suite.
Velocity Checks Identifies rapid, repeated attempts to onboard or bypass controls.		Velocity checks are included in fraud monitoring for suspicious activity.
Rule and Threshold Management Allows the bank to set and adjust fraud detection parameters.		Customizable fraud rules and thresholds are standard features.
Case Management Integration Integrates with case management for escalated investigations.		No information available

Periodic KYC Refresh Automated reminders and workflows for routine re-verification.		Ongoing and periodic KYC refresh and remediation processes covered.
Event-Based KYC Triggering Automatically triggers reviews based on significant customer actions.		Event-based triggers for re-verification described in monitoring literature.
Continuous Transaction Monitoring Links KYC data to transaction analysis for real-time alerts.		Continuous transaction monitoring and alerting connected with KYC data.
Change Detection Detects and flags changes to customer information.		Ongoing monitoring includes change detection for customer profiles.
Ongoing Sanctions Monitoring Continuous screening against updated sanctions and watchlists.		Continuous sanctions/watchlist monitoring part of KYC product.
Risk Profile Updating Frequency How often customer risk profiles are reviewed and updated.		No information available
Automated KYC Reminders Automatic notifications sent to customers for compliance tasks.		KYC reminder automation, customer alerts included in compliance workflow.
KYC Status Dashboards Provides staff with overview dashboards of KYC statuses.		Dashboards for status tracking and staff monitoring available.
Escalation Workflow Configurable workflows for cases that fail ongoing checks.		Escalation workflows for failed or risky KYC cases included.
Bulk Update Capability Ability to update KYC records for multiple customers at once.		Bulk update capability available for KYC record management.

Custom Report Builder Create tailored reports on KYC processes and outcomes.		Custom KYC and compliance reporting supported by the platform.
Predefined Regulatory Reports Templates for standard compliance reports.		Regulatory reports preconfigured for standard compliance obligations.
Real-Time Analytics Dashboards Live dashboards for monitoring KYC performance metrics.		Live dashboards and analytics are described in enterprise features.
Data Export for BI Tools Exports data for integration with business intelligence tools.		Data export options for BI tools referenced for analytics use cases.
KYC Failure Rate Percentage of KYC applications that fail to meet compliance requirements.		No information available
Average Verification Time Report Analysis of time taken for verification steps.		Reporting on average time to verify and compliance performance supported.
Trend Visualization Visualizes changes in KYC-related KPIs over time.		Trend visualization and reporting included in KYC analytics dashboards.
Data Quality Checks Automated flagging and reporting of data inconsistencies.		Automatic data quality and inconsistency checks are part of KYC data management.
User Audit Logs Exportable activity logs for user actions.		User activity audit logs available for compliance and analytics.
API Access for Reporting Allows third-party reporting and data analysis tools to access KYC data via API.		APIs available for third-party analytics tools to access KYC data.

Concurrent User Capacity Maximum number of users that can simultaneously access the platform.		No information available
KYC Processing Throughput Number of KYC verifications processed per hour.		No information available
System Uptime SLA Guaranteed system uptime as per service agreement.		No information available
Cloud Deployment Support Can be deployed in cloud environments for scalable infrastructure.		Cloud deployment option available for scalable infrastructure.
Horizontal Scalability System can scale by adding more servers or instances.		Horizontal scalability through cloud/enterprise deployment referenced.
Disaster Recovery RPO Recovery Point Objective in case of disaster.		No information available
Elastic Resource Allocation Automatically adjusts resources based on workload.		No information available
Load Balancing Distributes workload evenly across system resources.		No information available
Queue Management Manages high load and processing queues efficiently.		No information available
Performance Monitoring Real-time monitoring of system performance metrics.		Platform performance monitoring available in reporting tools.

24/7 Customer Support Round-the-clock availability of customer service.		No information available
Dedicated Account Manager Assigned vendor representative for ongoing support.		No information available
User Training Resources Availability of training materials and programs for staff.		User/staff training resources referenced in the onboarding portion of the offering.
Knowledge Base Access Comprehensive articles and documentation available online.		Knowledge base and documentation available for product support.
Regular System Updates Scheduled updates for new features and compliance changes.		Product documentation states regular system updates for compliance and feature improvements.
Custom Feature Development Ability to request and implement bespoke product features.		Custom development of features/workflows is available for enterprise contracts.
Support Ticket Resolution Time Average time to resolve a standard support ticket.		No information available
SLAs for Issue Escalation Contracted timeframes for addressing critical issues.		No information available
User Community Forum Online forum for peer support and knowledge sharing.		No information available
API Versioning & Deprecation Notices Advance communication of changes to integration APIs.		Equifax provides advance communications and documentation for API versioning and deprecation.

Equifax KYC Solutions from Equifax

Product analysis by function

Know Your Customer (KYC) for Compliance

Identity Verification (4 Yes /5 Known /10 Possible features)

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) (8 Yes /8 Known /10 Possible features)

Data Security & Privacy (8 Yes /8 Known /10 Possible features)

Regulatory Compliance & Reporting (6 Yes /6 Known /10 Possible features)

User Experience & Onboarding (4 Yes /4 Known /10 Possible features)

Integration & Interoperability (7 Yes /7 Known /10 Possible features)

Fraud Detection & Prevention (6 Yes /6 Known /10 Possible features)

Monitoring & Ongoing KYC (9 Yes /9 Known /10 Possible features)

Analytics & Reporting (9 Yes /9 Known /10 Possible features)

Scalability & Performance (3 Yes /3 Known /10 Possible features)

Vendor Support & Maintenance (5 Yes /5 Known /10 Possible features)