G2 Risk Solutions, a global leader in business intelligence for risk and compliance, launches an API version of its flagship product, furthering its vision to simplify and optimize merchant risk management for acquiring banks and payment facilitators. Global Onboarding , an AI-powered merchant onboarding solution, enables safe and fast onboarding of new merchants with highly accurate predictive risk assessments.
One solution to rule them all
Global Onboarding is the final component of an integrated solution that seamlessly integrates onboarding with G2RS’ monitoring products, Continuous Merchant Monitoring and Transaction Laundering Detection . For the first time, risk managers can underwrite merchants, intelligently authorize them at scale, and direct the flow of approved merchants into and out of activities that continuously monitor for a range of illegal and infringing activity within a single platform.
” We are pleased to be the first to offer an integrated solution based on our Merchant Map® and enhanced AI,” said Brian Longe , CEO of G2RS . “Our clients need to operate quickly and accurately to capture new merchant opportunities while minimizing risk to their merchant portfolios. Speed is as valuable as money, and our solution ultimately enables our clients to scale in a safe and smart way.”
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Innovation to keep up with evolution
As the e-commerce sector expands with the emergence of new online merchants and digital payment options, competition is intensifying. At the same time, regulations are becoming more complex and punitive, and bad actors are becoming more sophisticated. Businesses need to innovate and be agile to stay ahead in this ecosystem. Effective merchant onboarding is a critical step to efficiently set up merchant clients to accept secure digital payments while avoiding the risks of fraud, non-compliance with card services rules, and regulatory fines.
“The expanding e-commerce sector presents both exciting opportunities and significant challenges for the payments industry,” said Rochelle Breeze , president of Merchant Risk Solutions at G2RS . “Global Onboarding helps financial institutions and other payment providers navigate this dynamic environment with confidence, enabling them to rapidly respond to new business opportunities while minimizing the risk of illegal activity and non-compliance.”
Bringing together the best resources in the industry
Global Onboarding incorporates advanced proprietary technology that enables fast and reliable merchant onboarding. The solution includes G2RS’ robust risk mitigation and business enablement capabilities that are unique within the payments industry, including:
- Merchant Map® is a proprietary, industry-specific database of merchant behavior built from billions of data points over 20+ years, fully verified by expert analysts at G2RS.
- Compass Score® is a comprehensive, AI-driven score that predicts the risk of problematic merchant activity over the next 12 months. The scoring model integrates data from Merchant Map with additional data sources such as watch lists and sanctions registers, consumer reputation and adverse media, as well as risk-based insights for content compliance and operational risk.
- Merchant lifecycle risk management is a comprehensive approach that covers risk from underwriting and onboarding, to ongoing monitoring, transaction laundering detection and re-underwriting required for audits and investigations.
“Our global clients need tools that can keep up with an increasingly complex and growing industry,” said Gavin Andrews , director of product management at G2RS . “Global Onboarding’s AI-powered insights, comprehensive risk assessments and automatable workflows address the critical need for efficiency, accuracy and smarter decision-making in merchant onboarding. This is the fintech that is empowering payment providers to scale their operations with increasing confidence.”
SOURCE: BusinessWire