Global Regulatory & Compliance Solutions

Compliance Solutions

Compliance and Regulation

Veratad’s compliance solutions are designed to protect your company, organization or financial institution’s valuable reputation and assist you in avoiding costly government-imposed penalties while helping to prevent crimes such as terrorism, money laundering and ID theft.

In addition to our offerings of Age, Identity and KBA Verification Solutions that address the identity requirements of COPPA, Know Your Customer (KYC), USA PATRIOT Act, AML, OFAC, HIPAA and FFIEC Guidance for Internet Banking, Veratad offers a comprehensive suite of online compliance tools designed to address FTC and Bank Regulatory requirements regarding Red Flags Rule (Identity Theft Prevention Program) as well as online software for financial institutions that addresses IT GLB Compliance.

IDMatch+Comply Assists with:


The official title of the USA PATRIOT Act is “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism” (USA PATRIOT) Act of 2001.

Section 326: Verification of Identification – Prescribes regulations establishing minimum standards for financial institutions and their customers regarding the identity of a customer that shall apply with the opening of an account at the financial institution.

Veratad’s IDMatch and IDMatch+PLUS, identity verification solutions help business and financial institutions comply with the KYC, CIP and OFAC requirements of the USA PATRIOT Act.

Know Your Customer (KYC) policies are important in preventing identity theft, fraud, money laundering and terrorist financing. Customer Identification Program (CIP) provisions require financial institutions to verify their customer’s name, address and personal identifiers such as date of birth and Social Security Number. The Office of Foreign Asset Control (OFAC) maintains a list of known terrorists and money launders. Those subject to compliance must check to assure that their customers do not appear on this list.

  • Enhance your compliance strategies for USA PATRIOT Act, CIP, and OFAC
  • Instantly verify name, address, and SSN
  • Optional OFAC-check can be used stand-alone or included with ID results
  • Knowledge Based Authentication Challenge Questions
  • Flexible Integration
  • Online, face-to-face or in a call center

Children’s Online Privacy Protection Act

Congress enacted the Children’s Online Privacy Protection Act (COPPA) in 1998. COPPA required the Federal Trade Commission to issue and enforce regulations concerning children’s online privacy. The primary goal of COPPA is to place parents in control over what information is collected from their young children online. The Rule was designed to protect children under age 13 while accounting for the dynamic nature of the Internet.

Through our exclusive partnership with ESRB, Veratad’s ID Verification Solutions are offered to ESRB Privacy Certified program members as part of a comprehensive approach to ensuring compliance with COPPA. ESRB’s COPPA Safe Harbor– ESRB Privacy Certified is among the first privacy seal programs sanctioned by the Federal Trade Commission (FTC) as an authorized “Safe Harbor” under the Children’s Online Privacy Protection Act (COPPA), an endorsement that helps shield members from potential sanctions and fines.

Veratad’s IDresponse Platform delivers an entire suite of online verification tools to assure verification of parental consent and reduce fraud.

  • Real-time ID verification methods for Verifiable Parental Consent
  • Simplified API with pre-established FTC Safe Harbor VPC verification rules
  • Expertise in maximizing VPC transaction processes
  • Automated solution options designed to reduce administrative costs
  • Software Developers Kit (SDK) for application developers

FIEC & IT-GLB/Banking

Veratad offers a comprehensive approach to IT/GLB and FFIEC Compliance with “out of wallet” challenge questions, “out of band” multi-factor authentication and online compliance tools.

  • Out of Wallet Challenge Questions
  • Out-of-Band multi-factor authentication
  • Internet Banking Risk Assessment
  • Customer Education/Awareness Program

Veratad offers tandem software (powered by CoNetrix) as an online solution that helps ease the burden of regulatory compliance. The software was built specifically for financial institutions (banks, savings associations, credit unions, and trust companies) to help increase security, stay in compliance, and lower overhead costs. Here’s a summary of the online compliance modules:

  • Risk Assessment
  • Business Continuity Planning
  • Information Security Policies
  • Vendor Management
  • Internet Banking Security Program
  • Identity Theft Prevention Program

Red Flags Rule

The Red Flags Rule requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs — or “red flags” — of identity theft in their day-to-day operations. By identifying red flags in advance, businesses will be better equipped to spot suspicious patterns that may arise — and take steps to prevent a red flag from escalating into a costly episode of identity theft.

Veratad’s comprehensive FACTA RFR Solution includes an online tool that helps you create your Identity Theft Prevention Program Document and facilitates online Identity Theft Red Flags Rule Employee Training customized with your Red Flags. In addition, Veratad provides an easily deploy-able Identity Verification  Solution with Knowledge Based challenge questions and optional OFAC Search.

  • Real-time ID Verification and Knowledge Based Authentication
  • Fully hosted Web-based with multi-user access and multi-level security
  • Easy 4 step process for ITPP document creation
  • Documents include Annual Report and Red Flags Checklist and are fully editable in MS Word and PDF.
  • Online Learning Management System (LMS) with optional MS PowerPoint for group training
  • Email notifications of FACTA Regulatory changes.

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Other Identity Verification Solutions

Age Verification

Age Verification Icon

Identity Verification

Identity Verification

Document Verification

Document Verification

KBA Questions

KBA Icon

2Factor Authentication

2Factor Authentication