Shaun Thomas, Head of Corporate Development“We have not only kept pace with evolving regulations but have actively ensured clients streamline and strengthen their risk management processes,” says Shaun Thomas, Head of Corporate Development at MemberCheck.
Comprehensive Compliance and Risk Management Solutions
MemberCheck offers a range of services to help organisations navigate the complexities of regulatory compliance and risk management:
• Politically Exposed Persons (PEP) Screening: Their expansive PEP database enhances risk assessment by expediting the identification of politically exposed individuals.
• Sanctions and Adverse Media Screening: Extensive databases for sanctions and adverse media ensure timely and accurate compliance checks.
• Know Your Business (KYB): Comprehensive KYB services streamline the due diligence process, making it easier for businesses to conduct thorough risk assessments.
• ID Verification: MemberCheck’s global ID verification service uses advanced biometrics and data verification technology to provide comprehensive identity verification essential in the digital age.
• Transaction Monitoring: The FraudShield Transaction Monitoring system combats money laundering and terrorism financing, integrating seamlessly with existing systems to detect, investigate, and report suspicious activities in real-time. Leveraging advanced machine learning models, the system adapts to changes in monitoring rules and identifies risks over time.
MemberCheck's solutions have been embraced by clients for their efficiency and effectiveness. A compelling case study is their collaboration with Titan Corporate Services in Mauritius. Since implementing MemberCheck's services in 2019, Titan has achieved the following significant improvements:
• Reduced customer processing times from 14 to 4 minutes
• Increased customer approval rate from 85% to 95%
• Enhanced operational efficiency and compliance capabilities
Titan Corporate Services extensively uses MemberCheck’s PEP, sanctions, ID verification, and adverse media screening solutions. The ongoing monitoring service has proven particularly beneficial, saving time and money by reducing the frequency of re-screening.
Innovative Leadership and Future Plans
Under the experienced leadership of the Neurocom group, MemberCheck brings over three decades of expertise in software development and compliance technology. The team actively engages with industry trends, client feedback, and global conferences to ensure its solutions are innovative and user-centric.
We have not only kept pace with evolving regulations but have actively ensured clients streamline and strengthen their risk management processes
Looking ahead, MemberCheck focuses on enhancing its risk and fraud management capabilities through an integration initiative with GPayments, its sister service for fraud prevention. This collaboration aims to develop a comprehensive fraud prevention and risk management solution, part of a broader strategy that includes a rebranding effort.
Adapting to Technological Advances
As technological advancements continue, MemberCheck evolves its service offerings in response to regulatory changes and customer feedback. With the rise in generative AI technologies, there has been an increase in sophisticated fraudulent activities, including ID spoofing and various scams. MemberCheck is actively integrating advanced fraud prevention technologies into its solutions to combat these emerging threats, ensuring it remains at the forefront of the industry and ready to tackle new challenges.
