MemberCheck
 | |
| Industry | IT Services and IT Consulting |
|---|---|
| Founded | 2008 |
| Headquarters | Sydney, New South Wales |
| Website | membercheck |
MemberCheck is a Risk Management and AML Compliance company based in Sydney, Australia, that helps organisations manage their Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) risks and compliance with KYC obligations. The software includes data encryption, in-depth reporting, and REST API support for secure and flexible third-party application integrations.
MemberCheck offers a robust suite of solutions including, Politically Exposed Persons (PEP) Screening, Sanction Screening, Customer ID Verification, Adverse Media Screening, Ongoing Monitoring of Customers and Corporate Businesses & AML Consulting Services.
MemberCheck covers 195 countries and has been used to perform over 60 million scans so far. The company currently caters to 10,000+ clients and has a database that is updated every 24 hours.
History
MemberCheck was founded in 2008 to help companies manage their risk and compliance obligations. The company provides services to the global market and offers tailored solutions for different jurisdictions.The platform scans your new and existing customers against global PEPs and Sanction lists compiled by third party data providers.[1]
The list of industries MemberCheck works with includes financial services, crypto exchanges, digital banking, superannuation, gaming and gambling, real estate, legal and insurance to name a few. The company can help clients reduce their onboarding time by 40%. The MemberCheck team includes a group of ACAMS Certified AML/CTF advisors who are experts with regional experience in various domains such as crypto, finance, banking, insurance, and betting industries. The company is ISO27001 certified.[2]
Platform
Clients can get detailed reports of scanned individuals and corporate entities from the MemberCheck service by entering their customer's name and details, which will be checked against global PEP, Sanction, and Adverse Media data sources that are updated every day. By screening customers, the platform gives its clients a detailed report to help them make decisions based on due diligence that can help reduce the risk to their business.[3]
MemberCheck is available as a subscription-based software as a service (SaaS) that can be used right from your web browser. Alternatively, at no additional cost, users can integrate with MemberCheck’s API, to help streamline their customer onboarding process and ongoing monitoring requirements.
Services
MemberCheck is an all-in-one platform essential for reporting entities that need to comply with AML obligations around the world. Built with multinational corporations in mind, MemberCheck offers multi-user access, allowing large compliance teams to use the system as one. The company caters to managing risk and AML compliance obligations through a screening process that scans an organisation’s customer base against a global database of PEPs and Sanction lists compiled by third party data providers.
The services offered by MemberCheck help organisations reduce their risk of being associated with money laundering and terrorism financing activities. Clients can access Customer Identity Verification (IDV) ,PEP and Sanction Screening through the website application and API. The company also utilises fraud protection software that ensures ID verification security by performing automated scans of users.[4]
MemberCheck verifies the identity of new and existing users with Know Your Customer (KYC) functionality while ensuring that companies comply with AML and CTF regulations. The risk database is updated daily, and users can access the updated security information. All data that is uploaded to the system is secured with 2048-bit encryption tools. The data is transformed into a random collection of numbers and characters, preventing unauthorised users from accessing any sensitive information.
References
- ↑ Ltd, Crozdesk. "Member Check | Software Reviews & Alternatives". crozdesk.com. Retrieved 17 August 2022.
- ↑ "MemberCheck - Reviews, Products & Company Details | Bank Systems & Technology Online Buyer's Guide". www.bankandtechguide.com. Retrieved 17 August 2022.
- ↑ "MemberCheck - Fincrime Singapore- Exhibitor Partner". Transform Finance. Retrieved 17 August 2022.
- ↑ "Frictionless ways to reduce fraud and risk". todayspaper.smedia.com.au. Retrieved 17 August 2022.