Balance Innovation & Compliance with KYC Solution

By CIOReview | Friday, April 22, 2016

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Marsha Jones, president, TPPPA

FREMONT, CA: The Third Party Payment Processors Association (TPPPA) partners with G2 Web Services for banks and payment processors to focus on Knowing Your Customer (KYC) for improved regulatory compliance reports PR Rocket.

G2 Web Services, a KYC service provider, develops a risk based approach to quickly assess business customer risk and strengthen their BSA/AML compliance. In this approach, customers are segmented into tiers based on their organization’s risk level, which in turn helps banks to completely monitor the business customers. Continuous monitoring of business customers allows payment processors to make better decisions and improve their portfolios by launching new services.

G2 has also developed a pricing program for KYC solutions for the TPPPA members in their business classification by revealing prohibited and restricted customers in a bank or processor’s portfolio. It also provides a comprehensive review of complaints, ratings and negative news, based on thousands of industry-leading sources to balance innovation and compliance.

“We are proud to partner with G2 as their KYC Solutions compliment the TPPPA CMS, which is designed to help members comply with state and federal laws, rules and regulations related to payment processing and focuses heavily on Knowing Your Customer, and ongoing monitoring,” says Marsha Jones, president of the TPPPA.