G2 Web Services adds G2 Compass Score API to its KYC Governor™ solution, enabling banks to predict merchant and ACH originator risk and profitability in real time.
BELLEVUE, WA, August 27, 2014 – G2 Web Services, the leading provider of merchant risk intelligence solutions, today announced the addition of the new, predictive G2 Compass Score API to its KYC Governor solution. G2 Compass Score is a powerful tool that helps banks evaluate companies’ risk levels before taking them on as customers, and predict how profitable they will be for the bank. As part of KYC Governor, a merchant and ACH originator due diligence and monitoring solution, G2 Compass Score API will speed up merchant evaluation and help banks better manage risk. This unique score pulls from a decade of proprietary business risk history data gathered from monitoring and analyzing the risk of millions of global merchants and billions of data points.
“The G2 Compass Score API will assist banks in scoring merchants and ACH originators in real time, and making faster, more informed boarding decisions,” said Ed Barton, President of G2 Web Services. “Available via portal or API, the G2 Compass Score is ideal for both due diligence and ongoing merchant portfolio scoring.”
The KYC Governor solution is comprised of a due diligence and a monitoring component, to help banks meet government KYC (know your customer) requirements before boarding a merchant and after. KYC Governor was developed in response to many banks reaching out to G2 Web Services to request assistance with the U.S. Government’s Operation Choke Point initiative, which targets banks in an effort to reduce high-risk and fraudulent merchants and third-party payment processors.
“While KYC Governor was launched just a few months ago, G2 Web Services has seen keen interest and broad uptake from U.S. financial institutions,” added Barton. “Particularly now, as the FDIC has recently withdrawn the list of high-risk business types it warned banks against processing for, banks are left wondering how to avoid the Operation Choke Point cross-hairs. Careful due diligence and ongoing monitoring is the answer.”
For more information about KYC Governor and G2 Compass Score, visit www.g2webservices.com.
About G2 Web Services
G2 Web Services is the leading global provider of merchant risk intelligence solutions, including merchant due diligence, compliance, and fraud protection. G2 helps banks and payment service providers take on the appropriate level of merchant and ACH originator risk, while protecting against brand damage, illegal activity, and noncompliance assessments. G2 solutions include predicting merchant risk at boarding, monitoring merchants to ensure compliance with government and card network regulations, and protecting against fraud, among others.
For ten years, G2 Web Services has investigated, analyzed and linked data from millions of merchants, their risk history and relationships, building the G2 Merchant Map®. The Map is the industry’s most extensive database of merchant risk and fraud, offering insight into merchant relationships, risk history and behavior that no one else can provide.
G2 Web Services is headquartered in Seattle, with offices in London and Shanghai, and hundreds of clients worldwide. Learn more at: www.g2webservices.com.