RENO, Nev.--(BUSINESS WIRE)--Conformance Technologies®, a fast-growing provider of operating systems, education systems and expertise used in managing business compliance requirements, today announced the launch of PreComm ToolKit™ as its latest compliance offering. PreComm ToolKit is a cloud-based data gathering and collating service that simplifies the merchant due diligence and risk evaluation process prior to boarding, while addressing the difficulties associated with the Know Your Customer (KYC) compliance requirements of Anti-Money Laundering (AML) rules, The USA Patriot Act and card brand regulations. With PreComm ToolKit, merchant acquirers and payment processors gain protection from deceitful entities before unwittingly granting payment system access, while saving time and money related to manual, labor-intensive, paper-based workflows.
“PreComm ToolKit identifies unscrupulous businesses before merchant on-boarding, preventing fraudulent transactions from racking up,” said Darrel Anderson, president of Conformance Technologies. “Disparate risk data points are gathered quickly, consistently and accurately, enabling risk managers to easily view consolidated findings to make better decisions,” added Anderson.
PreComm Toolkit automatically and accurately gathers merchant risk data factors from deep, thorough and accurate investigation. Findings are consolidated and presented in dashboard format for further risk manager evaluation and decisioning. Risk data factors include corporate ownership documentation verification; Taxpayer Identification Number (TIN) and Employer Identification Number (EIN) matching; Terminated Merchant File (TMF) review; litigation search; computer system vulnerability testing; illicit, prohibited and illegal activity scanning; and a whole lot more.
Priced more than 70 percent less than other single data point scoping offerings, PreComm ToolKit debuts this week in Las Vegas at TRANSACT 17, the Electronic Transactions Association’s (ETA) annual conference held at the Mandalay Bay Resort & Casino. Also being showcased during the event is Conformance Technology’s InConRadar™, an ETA Star Award finalist in the best risk product category. InConRadar is a monitoring service that scans websites constantly to identify suspicious and potentially illegal merchant business activities so risk managers can investigate to take appropriate action.
Visit Conformance Technologies at booth T3 in the TRANSACT 17 exhibit hall to learn more. Interested parties may telephone 775.336.5533 or email firstname.lastname@example.org to schedule private meetings during the event and afterward.
About Conformance Technologies
Conformance Technologies is a fast-growing provider of operating systems, educational systems and expertise used in managing business compliance requirements. More than 300,000 small and midsize business end-users rely on Conformance Technologies’ solutions to protect their businesses every day, both domestically and in 19 countries around the world. Conformance Technologies is a privately held corporation headquartered in Reno, Nevada. Evolving from a payments consultancy and PCI compliance firm originally established in 2003, the Company has become a leading provider of automated compliance and sensitive data protection systems and services. For more information, please visit conformancetech.com.