SAN FRANCISCO, California – July 15, 2015: G2 Web Services, a provider of merchant risk intelligence solutions for acquirers, commercial banks and their value chain partners, representing close to 60% of global merchant outlets, has become a Premier Associate Member of Western Payments Alliance (WesPay).
G2 Web Services chose this membership with WesPay because of their valued member relationships and premier knowledge surrounding the payments environment. This aligns with G2’s partnership strategy which provides ongoing benefits to their clients.
“G2 Web Services is pleased to become a Premier Associate Member of WesPay due to its strong industry leadership and advocacy of a core G2 objective – promoting sound risk management practices in financial services. This new partnership is invaluable to us as it offers a wide range of opportunities to educate, learn from and engage with WesPay members. We look forward to developing our relationship with this important organization,” says Jane Hennessy, Head of External Alliances.
As a benefit to WesPay members, G2 Web Services is extending the opportunity for members to access an industry white paper. The paper is entitled, A Complete Approach to KYC with Business Customer Intelligence.With heightened regulatory uncertainty and rising regulatory pressure, financial institutions need transparency into their business customer, Third Party Payment Processor and Third-Party Sender portfolios to better manage their risk. While existing tools such as identity verification and transaction monitoring can help, they miss hidden risks that are vital to effective due diligence and compliance programs. This whitepaper will explain these hidden risks, and how business customer intelligence can help financial institutions comply with BSA and AML regulations while maintaining and growing their sources of revenue. WesPay members can access this white paper by visiting the G2 website.
“WesPay is focused on promoting the development and best use of electronic payments, and we are honored to be working with high caliber companies such as G2 Web Services that provide risk management solutions. G2’s focus on risk intelligence solutions is aligned with a key challenge of our industry and the payments needs of our members,” says William Schoch, President & CEO, WesPay.
About WesPay: WesPay is a membership-based payments association focused on regulatory compliance, risk management and operational sound practices across various payments channels. We work with over 1,200 member organizations including financial institutions, third-party payment providers and other organizations supplying payments-related services. WesPay, as a Direct Member of NACHA, is a specially recognized and licensed provider of ACH education, publications and support. Representing the interests of member institutions, WesPay is directly engaged in the NACHA rulemaking process and the Accredited ACH Professional (AAP) Program. Partnered with ECCHO, WesPay is a designated Educational Partner for the National Check Professional (NCP) accreditation program. WesPay provides timely and critical information related to changes in payments-related rules and regulatory guidance, education and preparation for industry accreditations, audit and advisory services and publication sales. WesPay’s member communications keep members informed, and our Payments Hotline and online virtual community provide member support with operational, compliance and risk management challenges.
About G2: G2 Web Services is a global technology and services company that helps banks, processors and their partners ensure safer and more profitable commerce. Clients representing over half of merchant outlets globally use G2Web Services’ solutions to identify bad actors and keep them out of the payments system. Banks, processors and their partners use G2 Web Services’ tools and expertise to perform better due diligence and monitoring so they can grow their portfolios while taking on acceptable risk. Widely regarded as the market leader, G2 Web Services helps clients confidently handle known and unknown threats and manage changing rules and regulations.
G2 Web Services is headquartered in Bellevue, WA, with offices in London and Shanghai.
Learn more at: www.g2webservices.com
