You receive a summary report by the end of the assessment process. As an intellectual property product, it can’t be subject to publication, resale, or distribution to third parties.
INSIGHT SCREENING
Insight Screening is an advanced partner business screening technology that can help merchants evaluate their own business and learn more about their competitors, partners, and payment providers.
Performed by specialists using a tailor-made set of data analysis methods, it checks the company’s profile to maintain high safety and compliance with the law.
Get the company’s information verified to make more precise business decisions and take action against illegal activities.
INSIGHT SCREENING: DEFINITION AND PROCESS
Insight screening is an intelligent tool that verifies company data to ensure regulatory compliance and prevent fraud. It is consists of the following steps:
- General information. Making a general overview based on well-known information.
- Legal entities. Understanding the reality of the counterparty and other participants.
- Website. Assessing the website from several perspectives: as an expert and as a user.
- Contacts. Collecting and verifying the counterparty’s contact data.
- Business and products. Collecting and analyzing the counterparty’s scope of activity.
- Reputation. Checking the counterparty’s reputation, status, and public trust. Verifying against internal blacklists of PSPs.
- Agreement. Analyzing the contract, its reliability, and level of risk and compliance with industry business practices.
- Risks and negative facts. Identifying possible risks affecting the counterparty’s reputation.
- Conclusion. Assessing the advantages of cooperation with the counterparty.
WHAT ARE THE BENEFITS OF INSIGHT SCREENING?
The more information you have, the better you can fight against fraudulent activities. The Insight Screening process offers certain benefits, such as:
- Fraud detection. Fraudulent or high-risk partners need to be spotted before starting a collaboration.
- Legal compliance. Adherence to AML standards and other safety norms helps avoid fraud and other legal issues.
- Risk management. Assessing the potential risks helps make business operations safer and more efficient.
- Confidentiality. A final report is an intellectual property product, not subject to publication, resale, or distribution to third parties.
Use Insight Screening to increase your operational efficiency in the long run.
GET PROFESSIONAL INSIGHT SCREENING WITH PAYADMIT
PayAdmit offers 360° Screening to businesses that want to check their counterparties. Knowing the partner’s registration information, functionality, and reputation can help you make the right decision about your future collaboration. Don’t hesitate to protect your company from fraud and other risks.
To get started, choose among “Pre-check”, “SmartScreen”, and “DocVerify”. Each package has a certain assessment coverage to meet your business needs. Make your business less exposed to safety risks while focusing on further growth.
Get ready to check your counterparty through PayAdmit!
FREQUENTLY ASKED QUESTIONS
What is the result of the Insight Screening process?
What are the benefits of Insight Screening?
This solution helps your company detect fraud, manage risks, comply with strict regulations, and maintain confidentiality in advance.
How much does it cost to get your business partner screened?
The cost depends on the selected service package, which covers certain types of assessments.
What is the red flag concept?
The red flag concept is a useful tool for businesses to keep up with the AML standards. This concept is used to detect and report potential fraud through the company’s profile assessment. As a result of the Insight Screening process, you get a complete profile of the partner, and if there are signs of fraud/scam, this will be clearly indicated.
What are Insight Screening challenges?
During the screening process, a large array of information is processed, which may be false, unreliable, or thrown in on a special order from competitors or those who wish to tarnish the reputation. The company under screening can itself flood the Internet with illusory positive reviews from satisfied “clients”, as well as laudatory posts. It takes much time and effort to ensure accurate screening results while maintaining speed and compliance with legal regulations.
Which Insight Screening package should you order at PayAdmit?
It depends on your business needs. If you need a general overview of your counterparty, request the “Pre-check” package. If you want your counterparty to be fully screened, request the “SmartScreen”. If you want to add verification of the company’s documents, please select the “DocVerify” package.
Does Insight Screening recommend the company’s future actions?
No, the tool serves an informative function based on in-depth data processing.
How does Insight Screening help manage risks for your business?
The tool allows your company to assess and manage potential risks by giving you the deep knowledge of your partner. Detecting and mitigating those risks as early as possible helps maintain a safe business environment and prevent any sort of crisis.
Does Insight Screening check the company’s reputation?
Yes, it collects, analyzes, and interprets information from open and closed sources, blacklists, and feedback from other market players. It also checks connections with the Russian Federation and other sanctioned countries.
Can small businesses benefit from Insight Screening?
Absolutely. Small businesses face many of the same risks as large companies. Even “Pre-Check” screening can help avoid unreliable or risky partners and ensure regulatory compliance in the long run.