ThKeeper uses Watson to help reduce risk and enable identity verification across borders

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ThKeeper indentity verificationWe live in an increasingly globalized world, where it is becoming common for people to live in multiple countries. People coming from abroad bring new skills and experiences, enriching workplaces.

However, lives spent across borders can pose a challenge when it comes to identity verification, including credit history and criminal records checks. Even in today’s hyperconnected world, identity checks remain surprisingly unsophisticated. They tend to focus on a person’s records within one country rather than their international history. They can also fail to calculate someone’s statistical risk.

This can be dangerous for companies and unfair to people with limited records in a new country.

Let’s take an example from banking. What if a customer has a good credit history in one country, but they previously filed for bankruptcy or left large debts unpaid in another? Do they still look like a good customer? Alternatively, how many trustworthy customers are rejected because they do not have enough of a credit history where they live now?

Verifying identity in a globalized world

To help organizations make better-informed decisions about customers, London-based ThKeeper set out to build a solution that verifies a person’s identity across borders.

When a company wants to evaluate a person’s identity, it sends their passport, driver’s license or national identity card to ThKeeper’s mobile app, Jasoon. Our proprietary identity verification program cross-checks the person’s identity against 200 third-party databases in 192 countries, covering a total of 4.3 billion people.

Jasoon can provide valuable insights such as checking identities against watch lists such as Interpol, Office of Foreign Assets Control (OFAC) and Politically Exposed Persons (PEP). Our services help users comply with regulatory requirements such as Know Your Customer (KYC), Anti-Money Laundering (AML), Customer Identification Program (CIP) and Personally Identifiable Information (PII).

Calculating risk

We saw an opportunity to take our solution one step further by providing a better understanding of customer risk profiles, based on rules set by the user. To do this, we deployed the artificial intelligence (AI) capabilities of IBM Watson Discovery. We built a state-of-the-art AI identity management service, based on IBM Watson and running on IBM Cloud virtual servers.

Using IBM Watson, we created a cognitive search and content analytics engine that extracts actionable insights from the data to power better decision-making. Our service assigns key risk indicators, providing an assessment of the risk a customer poses to the user’s business.

For example, the solution might tell a bank branch manager that an individual is 75 percent likely to be a good customer because they pay off their credit card in full every month. ThKeeper can also run specific checks relevant to certain industries, such as whether a person has ever been convicted of money laundering.

Our service is encrypted end-to-end, and personal data is automatically deleted after checks are run. If a client wants to hang onto data, they must commit to doing so within the IBM Cloud and in compliance with EU General Data Protection Regulation (GDPR) regulations.

Identifying new business

Our solution, based on IBM Watson technologies, also helps build our bespoke, customer-first brand more easily. We used to spend weeks or months creating tailored interfaces for each client or industry. Now we can detect each customer’s areas of interest and dynamically adapts the interface to match.

Our solution automatically customizes reports to each user’s taste, delivering information in spreadsheets or PDFs, depending on their preferences. It can also identify business opportunities by suggesting further areas to explore.

Running on the IBM Cloud has helped us speed up development. When you want to integrate a new service into your platform, about 75 percent of the coding effort has been done for you already. Last time, it took seven months to build a production-ready app. We built our current prototype with IBM Watson in just three months.

With the help of IBM Watson and IBM Cloud solutions, ThKeeper can offer a first-of-its kind AI identity management service. We enable companies to assess individual risk in an intelligent way, adding immense value to our offering and increasing our appeal to new customers.

Read the case study for more details.

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