Identity Dictionary

A repository of everything you need to know in user onboarding and identity verification 


Anti-money laundering (AML) refers to all policies and pieces of legislation that force financial institutions to monitor their clients to prevent money laundering. AML laws require that financial institutions report any financial crime they detect to relevant regulators.

Alternative credit scoring refers to the use of data from digital platforms and applications on consumer behavior for credit risk assessment. In the past, credit bureaus were the sole source of consumer credit information, which lending institutions use to reduce bad debt and market risk.  Alternative credit scoring demonstrates the potential strength of combining data from multiple sources, like airtime usage, mobile money usage, geolocation, bills payment history, and social media usage.

Account takeover fraud (ATO) happens when a cybercriminal gains access to the victim’s login credentials to steal funds or information. Fraudsters digitally break into a financial bank account to take control of it and have a variety of techniques at their disposal to achieve this, such as phishing, malware, and man-in-the-middle attacks, among others. ATO is a top threat to financial institutions and their customers due to the financial losses and mitigation efforts involved.

Liveness detection in biometrics is the ability of a system to detect if a fingerprint or face (or other biometrics) is real (from a live person present at the point of capture) or fake (from a spoof artifact or lifeless body part) Active liveness detection relies on the user’s movements in response to challenges such as nodding, blinking, smiling, or correctly positioning one’s face in a frame.

Adverse media checks, also known as negative news checks, is the process of screening a financial institution’s client (individual or corporate) against news articles, legal prosecution or similar content that may affect the customer’s final risk by revealing their involvement in money laundering, terrorism, fraud, tax evasion, or other types of crimes.

Behavioral profiling is simply about identifying and measuring the characteristics and preferences of individuals. The information can then be related to other variables within the organization and often used to detect changes in behaviour to verify user is who they say they are. 

Buying propensity uses artificial intelligence to predict who is likely to buy your product or service. This is done by using AI to learn about your current best customers and finding companies in the market that look like them.
Consortium data for fraud prevention is a system that shares the amount of data transactions and information between a group of similar merchants/businesses. These consortium data systems help more effectively fight against fraudulent activity since it gives all companies involved access to more data analytics and knowledge about those attempting the fraud.

Counter-Terrorism Financing (CTF) are laws and regulations that are targeted to control illegal financing of terrorism and terrorist-related activities. This includes direct funding of terrorist organizations. Since these financing transactions are similar to money laundering tactics, it can be usually be tracked and screened.

Customer onboarding is a term typically used to describe the process users go through, from the start of their journey to become a customer and beyond. It encompasses a variety of interactions and engagements with your brand, typically created to enhance the customer experience and influence the ongoing relationship your customer has with your brand and product.

Case management is a professional and collaborative process that strives to assess, plan, implement, coordinate, monitor, and evaluate the choices and services available to meet an individual or business need.

Attributes such as age, gender, ethnicity etc. of a person are known as demographic attributes.

Digital footprint or digital shadow refers to one’s unique set of traceable digital activities, actions, contributions and communications manifested on the Internet or digital devices.

A digital identity is an online or networked identity adopted or claimed in cyberspace by an individual, organization or electronic device. These users may also project more than one digital identity through multiple communities. In terms of digital identity management, key areas of concern are security and privacy.

Digital KYC will involve capturing the live photo of the customer and officially valid documents or proof of possession of Aadhaar where offline verification cannot be carried out, along with latitude and longitude of the location where such live photo is being taken by an authorized officer of the bank.

Digital onboarding is an online process whereby an individual signs up with a company or a government/institutional service in order to later access its products and services. The individual provides their personal data, and if required, a piece of biometric information such as a fingerprint or face scan. The digital onboarding process allows the individual to be easily and securely identified later.

Digitization is the process of converting information into a digital format. In this format, information is organized into discrete units of data (called bit s) that can be separately addressed (usually in multiple-bit groups called byte s). This is the binary data that computers and many devices with computing capacity (such as digital cameras and digital hearing aids) can process. 

Digitalization means the use of digital technologies and of data (digitized and natively digital) to create revenue, improve business, replace/transform business processes (not simply digitizing them) and create an environment for digital business, whereby digital information is at the core.

e-KYC facilitates the completion of the KYC process online, eliminating the need to fill up physical forms and submit physical documents. The main objective of e-KYC is to register the customer with the least amount of paperwork and in the shortest possible time.

Email risk assessment uses data, such as name matching, email address validity, and validating social media profiles to make better decisions about accepting orders. You can also check whether a particular email address is on a blacklist for fraudulent transactions.

Face match technology, also known as face recognition technology, compares an image that contains a face to one or more other facial images and establishes whether the faces likely belong to the same person; i.e. whether they are considered a match. 

Geolocation is the use of technology to find the location of an internet or mobile phone user. The company uses geolocation to spot whether fraudsters may be trying to transfer money from a new location. 

IDcentral retrieves information from government data sources to match details of an onboarding customer from a given customer input or OCR extracted database.

Identity theft occurs when someone uses another person’s personal identifying information, like their name, identifying number, or credit card number, without their permission, to commit fraud or misuse identity information to take illegal advantage of a system.

Verify monthly income, and identity details based on transactional messages and other behavioral attributes.

Identity Analytics is the enhanced, intelligent, Identity and Access Management (IAM) solution. The user data is collected from several sources and analyzed using artificial intelligence technologies, machine learning, data analytics using cognitive systems, and much more.

Know Your Customer (KYC) refers to the process of verifying the identity of your customers, either before or during the time that they start doing business with you. The term “KYC” also references the regulated bank customer identity verification practices to assess and monitor customer risk.

Liveness refers to the use of computer vision technology to detect the genuine presence of a living user, rather than a representation such as a photograph or a mask.

Get tenure of mobile number, validity, category (Post paid/prepaid), data quota and locality score from telecom operators.

A politically exposed person (PEP) is defined by the Financial Action Task Force (FATF) as an individual who is or has been entrusted with a prominent public function. Due to their position and influence, it is recognised that many PEPs are in positions that potentially can be abused for the purpose of committing money laundering (ML) offences and related predicate offenses, including corruption and bribery, as well as conducting activity related to terrorist financing (TF). The potential risks associated with PEPs justify the application of additional anti-money laundering / counter-terrorist financing (AML/CFT) preventive measures with respect to business relationships with PEPs.

Liveness detection in biometrics is the ability of a system to detect if a fingerprint or face (or other biometrics) is real (from a live person present at the point of capture) or fake (from a spoof artifact or lifeless body part). Passive liveness detection is fundamentally different from active liveness detection as it requires no action by the user while authenticating himself/herself

Promo abuse or coupon fraud occurs when an individual – customer, vendor or a partner agency takes advantage of a promotion, abusing the Coupon Policy. Fraudsters might benefit from redeeming a coupon multiple times, or simply using them to gain money and other valuable items or services.

 A score is generated with the help of AI algorithms based on the digital footprints of a person to measure the reliability and authenticity of a person. 

SMS Txn Extractor filters the transactional SMS’s from the collection of SMS’s that we receive every day, to evaluate the user attributes that will be helpful to predict many different vectors such as – Purchase pattern, Financial profile, Income proof, and Credit/insurance risk.

Spoofing attack is a situation in which a person or program successfully identifies as another by falsifying data, to gain an illegitimate advantage.

The process to raise a red flag immediately and help prevent financial crime and money laundering with automated customer watchlist screening by keeping an eye on the following lists:

  • Sanctions Watchlists
  • PEP
  • Adverse Media

Transaction monitoring refers to the monitoring of customer transactions, including assessing historical/current customer information and interactions to provide a complete picture of customer activity. This can include transfers, deposits, and withdrawals.

A list of individuals, groups, or items that require close surveillance, typically for legal or political reasons.