IdentityMind Overview

What is IdentityMind?

The balance between best experience and least fraud is tough to find. Too much risk means fraud and chargebacks that can hurt your bottomline. Too much security means fewer customers and more unhappy customers. What’s the balance for the best online fraud detection? Knowing who’s on the other end of the transaction is the best start, and IdentityMind helps you get there.

IdentityMind lets you see who’s on the other end of the transaction so you can identify the good guys you want to do business with and the bad guys that you want to avoid. And, using digital identities powered by eDNA™ technology, you can get a more accurate picture of risk to enable better customer selection and fewer rejections of good customers. eDNA leverages machine learning to build trusted digital identities and analyze identities for the most accurate reputation score (risk profile) possible. Our algorithms provide reputations for each entity tailored for the industry in which you do business. And, we enable you to modify your risk process on the fly, adding in additional checks where merited.

Buyer's Guide

Download the Fraud Detection and Prevention Buyer's Guide including reviews and more. Updated: June 2021

IdentityMind Customers
Veem, Mercari, Fundbx, Binance, Huobi, Mezu, Montual
IdentityMind Video

Pricing Advice

What users are saying about IdentityMind pricing:
  • "The SaaS model that we pay is what I know the cost for, and it's reasonable. It's about just under $1,000 or something per month. There is a certain number of users that you get free."

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Dhiraj Bhat
Senior Product Manager at a tech services company with 11-50 employees
Real User
Top 5
Great third-party integrations, very stable and easy to set up

What is our primary use case?

I was working for a startup that was building a stablecoin product, which is basically a gold-backed stablecoin (G-Coin) . For that, we needed to do identity validation for retail as well as business to business consumers. We didn't have a lot of B2B consumers, so we didn't explore that use case too much. However on the consumer aspect, we were basically doing all the data collection for each user on the app [ReactNative], and sending all PII data to IdentityMind via API to check the information against databases to make sure the digital identity of the user is known, transactional patterns… more »

Pros and Cons

  • "They have a very wide variety of rules that allow you to integrate well."
  • "Some of the language around rules and integration can certainly be improved."

What other advice do I have?

We were initially using a cloud version of it. Later, we moved to SaaS as our users came down a little bit. We were using the SaaS version of the solution. I would basically say that any potential new users should do some trial. You'll need to figure out some of the aspects ahead of time, such as how can you build anti-money laundering rules into the system. New users should take the required amount of information about the AML policy and the AML rules from IdentityMind before they make the decision on going for it. In terms of account creation and account blockage and all of that stuff, it…
MM
Sr. Fraud Analyst at a tech services company with 51-200 employees
Real User
Top 10
Scalable with good security checks and a nice automation process

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.

Pros and Cons

  • "The automated checks are excellent."
  • "The UI at first felt like it wasn't the easiest interface to interact with."

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.
Buyer's Guide
Download our free Fraud Detection and Prevention Report and find out what your peers are saying about Acuant, NICE, DataVisor, and more!