Supporting Customisable Business Rules

Do you have an AML-CTF program or rules for verifying your customers, what do those rules entail?

  • Do you need to meet customers face-to-face?

  • Do you need to check for sanctions and or undertake a check to see if the customer is a Politically Exposed Person?

  • Do you need to complete further due diligence on customers from certain countries?

VerifiMe’s clients operate across a variety of industries, each with their own complex compliance requirements and reporting standards. A key deliverable of our revolutionary shareable identity solution is the ability for our clients to apply rules that allow risk assessment and mitigation per their own requirements and processes.

For example, if your internal procedures state you cannot deal with customers who wear a green hat as they are seen as being a certain risk level, then a rule is applied to assess this. If the rule is triggered, further mitigations can be applied.

This flexibility is crucial for achieving compliance standards and supporting your organisation’s long-term business strategy. With years of experience, the VerifiMe team is here to assist you in setting up these rules within our system.

Key Features:

- Develop rules that meet your internal compliance requirements for managing customer risk.

- Configure multiple rules or rule sets to cater to different customer types or risk profiles across your organisation.

- Adjust your rules and mitigations over time.

Summary of How it Works:

  1. Review Existing Procedures: Organisations review their existing verification procedures, including the method for assessing each customer type and the steps to be taken based on the customer risk level prior to the provision of services (per the organisation’s risk profile).

  2. Engage with VerifiMe Support: The VerifiMe Support Team will work with you to set up your business rules, configure the data-based triggers underpinning those rules, and apply a residual risk level for each rule. You can test and amend these rules before go-live.

  3. Process Customer Details: As customers enter the portal and permission your business, their details are processed against your business rules and a corresponding risk level is calculated. The organisation may engage the customer directly for additional information or may obtain internal sign-off prior to proceeding. The organisation can also manage ongoing customer due diligence through the portal. Interactions and decisions are maintained in the portal for future reference.

For more on customising rules please email support@verifiMe.com and ask for the rules engine support pack or ask for a call back.