PROCESS STEP
INTEGRATION REQUIREMENTS
Customer data, commercial data, bank account information
Input in mainframe system (e.g. SAP BP), also connected to EMR system such as Salesforce.com
Address verification
Web services that offer addresses and ZIP codes (web interface)
Internet check (Negative entries about business, owners, managers)
System such as Webshield, external services via web interface
Supporting documents
Document Management System as part of mainframe or stand alone
Scheme blacklist check and Merchant Industry Code assignment
Schemes database via web, blacklist via Match or VMAS
KYC – Politically exposed persons
Government databases (BSA/OFAC in USA, AML Anti-Terrorism Directive) via 3 rd party provider such as Dow Jones, Experian Government databases (BSA/OFAC in USA, AML Anti-Terrorism Directive EU) via 3 rd party provider 3 rd party providers via web or batch that provides such information (D&B, Bisnode, BvD) and from boarding form
KYC – AML and Terrorist blacklist check KYC – Ultimate beneficial ownership information
This is by no means an exhaustive list of data that must be collected and processed. Once the customer verification process is done, the acquirer must tap FICO systems, internal or external risk models, fraud and treasury systems, MasterCard and Visa payments infrastructure, the acquirer’s payments processing platform and more to determine credit worthiness, activate the merchant and monitor the account.
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