What is our primary use case?
We would do initial merchant applications and ongoing merchant reviews. What we would essentially do was plug all the information into IdentityMind, and we were using it essentially as an ongoing sanctions check platform. What IdentityMind carried out were daily or weekly checks with the sanctions with the multiple functions across multiple jurisdictions. If there were issues, we would be alerted; if there was any issue regarding, for example, if somebody appeared on a sanctions list. Once we get the alert we can investigate, ask, and follow up with the appropriate action.
How has it helped my organization?
The solution automated the processes, which helped the organization immensely. There also wasn't a global reach previously. It's like it saved us a ton of time with regards to the identity verification with Mitek. I have 17 years of experience and to have a third party, as it were, to be there to say "yep, this looks okay "or "this looks a bit dodgy" is a great help. It allows us to go deeper on checks and to verify more effectively.
What is most valuable?
The solution has some good plug-ins. We use one that is able to scan ID when it is provided and sends it to Mitek which was integrated with the solution. The plugin was able to review and identify the ID within minutes and provides us with a short report to let us know if the ID is valid or not. It's quite a useful add-on.
The security aspect is pretty good. There were about seven or eight parameters that were tested. For example, whether the solution would actually match the ID format and if what was reported appeared genuine. It was a good security aspect we used on an ongoing basis that we've found useful.
It was something good to have available for existing merchants. It allowed the to review items for risk on top of sanction screening.
The automated checks are excellent.
There is a network of links to various individuals that we've found useful as well. It allowed us to check against false positives or to further investigate an issue is someone denies a fact or detail.
The UI is new and updated and is improved from the older versions.
What needs improvement?
The user interface at first felt like it wasn't the easiest to interact with. However, this was partly due to the amount of information provided. For example, to view results of an ID card check, I needed to go through a set of windows, and it wasn't particularly intuitive. I felt that the UI itself could have been simpler and more intuitive with a little tweaking.
What do I think about the stability of the solution?
While we had some issues earlier on, now it is good. It's very stable. We've never had any drop-offs. I haven't experienced any issues with bugs or glitches. It's been reliable.
What do I think about the scalability of the solution?
The solution can scale. We started off with a few moved to a significantly larger number of affiliates. It was not a problem. It didn't seem to slow things down. The response rates or inquiries, although they slowed a little bit, wasn't bad. When you go from 200 entries to over 10,000, there was a little bit of a slow down. That said, it's pretty scalable overall.
There were four of us spread across North America that worked with the solution directly.
How are customer service and technical support?
I've never dealt with technical support and therefore can't really speak to their level of responsiveness.
Which solution did I use previously and why did I switch?
We haven't really used a solution that's similar to this product. It's the sole platform we use for sanctions screening.
I have some experience with Threat Metrix, however, it's my understanding that that option is more for banking.
How was the initial setup?
To the best of my knowledge, there were one or two difficulties with the initial setup. However, beyond that, everything else ran rather smoothly.
I haven't seen too much need for any maintenance aside from a UI upgrade. That was towards the end of 2018.
What was our ROI?
While I do have a pretty good idea of how much time it would save me, I don't have an idea of what the ROI is in relation to the company. With the automation provided, the labor costs alone each month is likely saving the firm money.
What's my experience with pricing, setup cost, and licensing?
While I would likely have heard if the solution was too expensive, I don't know what the exact pricing is. If it was too expensive, our company would get rid of it. Therefore, I can only assume that the pricing is reasonable.
What other advice do I have?
We're just a customer. We don't have a business relationship with the company.
I simply use the solution online. There isn't really a deployment model. I'm using the latest version that has an updated UI.
I would recommend the solution to others. For us, it's worked rather well.
Overall, I would rate the solution nine out of ten.