DataSeers’ Customers Can Now Onboard, Monitor Transactions, Create Cases, and File SARs within a Single Application
ATLANTA, 11.09.2020 – An Atlanta-based FinTech company DataSeers is now offering ID Verification services to its clients and partners. The DataSeers application, FinanSeer®, which has already proven to be a comprehensive compliance platform, is proud to announce the addition of IDV to its offering.
This is possible thanks to an expanded relationship with LexisNexis® Risk Solutions. Flavio Villanustre, VP, Technology and CISO at LexisNexis Risk Solutions comments on this valued partnership, “DataSeers is a valued partner and member of the HPCC Systems® community. They are continually driving innovation through the HPCC Systems platform that benefits both their customers and the HPCC Systems open source community.”
“Our clients can now onboard, monitor transactions, create cases, and file SARs with FINCEN all within the single application. This is a huge step forward for us since we can now positively influence on the onboarding decisions of our clients,” says Adwait Joshi, Founder and ChiefSeer of DataSeers. Joshi actively participates in creating and further development of new product features.
Onboarding decisions have become even more critical with the tremendous increase in COVID-19-related digital offerings. For instance, fraudsters have been able to acquire digital card products through stolen identity data. According to KrebsOnSecurity, a well-organized Nigerian crime ring is exploiting the COVID-19 crisis by committing large-scale fraud against multiple state unemployment insurance programs, with potential losses in the hundreds of millions of dollars.
“Onboarding is not straight forward. The prepaid industry struggles with onboarding since most card acquisition is digital. During this process, companies often do minimal checks on the data before giving applicants accounts. DataSeers is improving the process by bringing information from multiple data sources together so an informed decision can be made quickly. Our scorecard is able to match data patterns, something that other providers can’t provide,” explained Joshi.
DataSeers has built its technology platform using HPCC Systems as their big data engine. HPCC Systems unique feature set allows DataSeers to ingest billions of transactions and act on them very quickly. HPCC Systems is an open source, big data engine that provides end-to-end data lake management, from ingestion of structured and unstructured data to delivery of meaningful insights and also provides tools for machine learning at unprecedented speeds. It has been one of the biggest differentiators by bringing speed and accuracy to DataSeers’ business.
Atlanta-based DataSeers has engineered a unique solution for effectively harnessing complex data. Its FinanSeer software is AI-powered and specifically designed to help banks and payments companies greatly improve their reconciliation, compliance, fraud detection and analytics. DataSeers has been recognized by the Technology Association of Georgia as one of its “Top 40 Technology Companies” for the past two consecutive years. The company is the recipient of the LexisNexis® Risk Solutions HPCC Systems Community Recognition Award for creating a “Truly Unique Solution” leveraging the HPCC Systems open source, data lake platform. DataSeers was among Atlanta Inno’s 2019 “50 on Fire” companies in Georgia. The company was also a winner in the New to Export category at the 2019 GLOBE Awards presented by the Georgia Department of Economic Development.