Professional Services News / Covery

Automate KYC, Streamline Risk Management and Increase Revenue with Covery

Via: ReleaseWire

Updated 12:00 AM CST, Thu, January 24,2019

Covery, risk management and fraud prevention platform, announced the release of a new feature that is very crucial for many businesses. Before now, platform provided an automated analysis for such user actions as Installation, Registration, Confirmation, Login, Transaction, Refund, Payout and Transfer. From now Covery includes the automatization of KYC procedure.

Birkirkara, Malta -- (ReleaseWire) -- 01/24/2019 -- Know your customer (KYC), in simple terms, is identity verification of a user. No doubts, it is a crucial part of customer due diligence, that protects businesses from money laundering, identity theft, cyberterrorism, scam, and other fraudulent activities.

"Today we don't know any industry that doesn't need KYC procedure. For instance, iGaming industry is highly regulated and demands identity verification to ensure responsible gaming, make up-to-date payouts, and detect fraud. However, lot's of iGaming businesses spend huge resources of their risk managers on time-consuming KYC", says the Product Owner of Covery.ai, Pavel Gnatenko.

"Covery transforms manual KYC procedure into an automatic process of complex data collection, analysis and decision-making all-in-one place. Data fetched during KYC procedure also helps to analyze other user actions more deeply, and to create an overall evaluation of user that can be used both for more precise fraud prevention as well as revenue increase", Pavel added.

Covery's automatized KYC procedure is divided into KYC profile and KYC submit stages, that enable the analysis of both simple and complex entities for various industries.

Covery definitely stands out from the crowd, the platform uses all types of user's in-house data, permits risk manager to work with any risk logic valuable to a specific business, and advances user analysis with no compromise in quality.

To learn more about how Covery can protect your business, reach out Covery's sales team by emailing sales@covery.ai

About Covery
Covery is a global risk management platform helping online companies solve fraud and minimize risk. Covery focuses on the versatility of the product and its adaptability to each type of business, based on the individual characteristics and customer needs using both rule-based and machine learning approaches. The company works with high-risk as well as with low-risk industries offering customized solutions for every customer. Find out more at covery.ai

For more information on this press release visit:
http://www.releasewire.com/press-releases/automate-kyc-streamline-risk-management-and-increase-revenue-with-covery-1130979.htm

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