Veratad’s IDMatch+PLUS, Knowledge Based Authentication Solution, Enhances Northpointe’s Compliance Efforts with Federal AML/KYC Regulations in real-time.
TEANECK, NJ and GRAND RAPIDS, MI February 23, 2015 – Veratad Technologies, LLC (www.veratad.com), a world class provider of virtual age and identity verification solutions, announced today that Northpointe Bank of Grand Rapids, MI (www.northpointe.com), has selected Veratad’s industry leading IDMatch+PLUSSM Knowledge Based Authentication (KBA) solution to verify identity online in real-time. IDMatch+PLUSSM provides Northpointe with a powerful ID verification tool that streamlines the on-boarding process and enhances both customer experience and compliance efforts with Federal Anti-Money Laundering and KYC Regulations.
“Consumer banking behavior continues to trend away from traditional brick-and-mortar locations. Having a strong online and mobile presence is crucial. It’s where the majority of our consumers interact with us. That means continually seeking out better systems from the top technology partners. After a thorough comparison of verification vendors, we selected Veratad as the best choice. In addition, our partnership with Veratad is an important part of our overall compliance efforts.” said Bill Clancy, Vice President of Deposit Banking at Northpointe.
Northpointe Bank was established in 1999 and in June 2013, ICBA Independent Banker ranked Northpointe Bank as the top performing financial institution in the nation among its peers. Additionally, in July 2014, ICBA named Northpointe Bank as a top-performing lender, one of only 450 community banks to receive this designation.
“We are delighted to have been selected by Northpointe. It’s no secret that sophisticated criminals are targeting banks and their online customers at an alarming rate. By deploying Veratad’s KBA solution, Northpointe is demonstrating a commitment to the highest level of fraud prevention and safety for their online customers.” said, John E. Ahrens, Veratad’s Managing Director.
In addition to the verification of identity, Veratad will also provide Northpointe with a comprehensive KYC check, including verification that an online customer’s personal information is not associated with an individual found on the U.S. Department of Treasury’s OFAC Specially Designated National (SDN) list.
Veratad Technologies, LLC (www.veratad.com) is a provider of both online/real-time and batch Identity Verification and Knowledge Based Authentication Solutions for those who conduct business on the Internet or any business that needs to verify an individual’s age or identity. Veratad ‘s customers include some of the world’s most well known corporations who use Veratad’s solutions to reduce the risk of fraud, comply with financial regulatory requirements, provide a safer online experience and act with a greater sense of social responsibility.
Veratad Technologies, LLC
201-510-6000 ext. 120
About Northpointe Bank
Northpointe Bank offers client-focused products and services to customers across the country with locations in Michigan, Ohio and Indiana. Northpointe brings its customers true value such as the UltimateAccount, a free checking account that reimburses ATM fees and pays up to 5.00% APY. ICBA Independent Bank ranked Northpointe Bank as the number one performing financial institution in the nation among its peers. For more information visit www.northpointe.com.
Northpointe Media Contact:
3333 Deposit Dr. NE | Grand Rapids, MI 49546