Risk and Compliance Solutions for Payment Service Providers


When a payment service provider works with a customer, there are always precautions needed. Jose Caldera, Chief Products Officer, Acuant (formally IdentityMind), knows the key to mitigating risks for the payment service provider is to enable risk assessment solutions at the start of the onboarding process.

Some companies operate in high-risk environments, and other companies may deal with money lending or other money services. A payment service provider needs to assess any situation where a business provides a service with a high fraud risk attached.

“As a payment service provider that has to offer services and onboard these clients, you have to look at the types and dimensions of risks associated with them,” Caldera said.

With evolving processes and technology, the underwriting process of onboarding clients has also transformed.

“There is a new world of payment-providing services that don’t necessarily follow the same underwriting practices that have historically been part of this market,” Caldera said.

With the added complexity of today’s customer needs, government regulations require more stringent protocols for payment service providers to follow when underwriting and onboarding clients.

“When a payment service provider is looking at a business, they’re also looking at the structure of that business and making sure that business is not behaving like a shell company or cleaning illicit money,” Caldera said.

The added levels of scrutiny and examination required for assessing today’s businesses need new technology to do this type of review in real-time.

Be sure to subscribe to our industry publication for the latest news, videos, and podcasts in the Software and Technology Industry.

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!


Can Fitness Be More Accessible?
How Technology Can Make Fitness More Accessible
October 20, 2021
  Key Points: Fitness members want an easy tool to use on their mobile device to manage classes, memberships, in-gym daycare and other fitness services provided by gyms. Customers of Daxko Read more
Helping Restaurants of All Sizes with the Restaurant Repair Process
Helping Restaurants of All Sizes with the Restaurant Repair Process
October 20, 2021
  Running a restaurant is hard work especially if you are a small business. There are a lot of tasks that go into day-to-day operations that can all be derailed if the wrong piece of equipment Read more
EP 26: VRF Systems Provide Flexible Heating & Cooling Options: 10 Minutes To A Better Building
October 20, 2021
On this episode of 10 Minutes To A Better Building, Host Tyler Kern talked with Jason Lawrence, Ductless Technical Specialist at Boland Trane, which provides HVAC solutions and a network of more than Read more