Experian, a global information services company, has announced the adoption by Forex Capital Markets of Experian Universal ID Check, an authentication service designed to counter the threat of identity fraud and money laundering globally.
The company has claimed that via an Experian Web user interface or XML implementation, clients select the country associated with the applicant’s current residence. The screens then provide the appropriate formatting of the name, address and telephone number associated with that country. In addition to these identity elements, users also may initiate checks associated with passport details, bank account data, IP address geolocation, or a series of relevant sanctions and politically exposed persons watch lists. The applicant is then authenticated, and both summary- and detail-level record results are returned.
Reportedly, as an alternative to the comprehensive reporting provided through Experian Universal ID Check, Experian Universal ID Service delivers various capabilities that can be combined or leveraged individually as standalones, allowing users to customize the authentication checks they wish to utilize and eliminate superfluous searches.
Juan Cafe of Forex Capital Markets, said: As an online foreign exchange trading firm with more than 125,000 live accounts that are traded through our platforms, authentication across numerous countries via a single platform is of paramount concern and value for us. Experian Universal ID Check allows us to authenticate consumers residing in multiple countries and perform a variety of effective identity checks through a single access point, saving time and cost without compromising the customer experience.
