IdentityMind Global Selects Oracle Cloud Infrastructure to Host its Trusted Digital Identities RegTech Platform
October 10, 2018
Migration Enables Elastic Scaling to Meet IdentityMind’s Explosive Global Growth
PALO ALTO, CA., October 10, 2018 – IdentityMind Global™, Digital Identities You Can Trust, today announced that it has selected Oracle Cloud Infrastructure to host its award-winning Version 2.0, SaaS-based, trusted digital identities platform for compliance, risk management and fraud prevention.
The IdentityMind Version 2.0 platform, released just this fall, represents years of research in digital identities, machine learning for know your customer (KYC) and overall anti-money laundering (AML) compliance, anomaly detection, regulatory compliance, and product development. It enables clients’ compliance, risk and fraud analysts to take a risk-based approach based on the understanding of the user behind the transaction.
“We migrated to Oracle Cloud Infrastructure so that we could support our growth demands and meet clients’ requirements for an enterprise-grade solution that delivers on the requirements for high availability, scalability and performance,” said Kieran Sherlock, Chief Technology Officer, IdentityMind. “Oracle’s high performance and elastic scaling helps enable us to quickly and cost effectively expand our transaction processing capabilities as we continue to add new clients, features and services.”
“Our core architecture supports infinite scaling,” continued Sherlock. “It was important that the advanced analytics the system applies can continue to perform in real-time, as we continue to add enterprise clients around the world and millions of daily transactions.”
IdentityMind also chose Oracle, in part, because of its ability to help secure all phases of the cloud migration process. Oracle addressed this need with Oracle Dyn Web Application Security, a fully managed, cloud-based security suite that lets customers secure critical infrastructure before, during and after the transition of services from their data centers to the cloud. Oracle Dyn Wall Application Security includes next-generation Web Application Firewall (WAF) and DDoS Protection among other components designed to ensure the security of internet and cloud-facing applications.
“One of the key strengths and key differentiators of Oracle Cloud Infrastructure lies in its unique ability to secure and help ease all phases of the cloud migration process,” said Kyle York, Vice President of Product Strategy for Oracle Cloud Infrastructure. “With Oracle Dyn Web Application Security, customers can peacefully lift and shift their existing applications and security posture to Oracle Cloud Infrastructure whenever they’re ready. Our best-of-breed edge security solutions let customers maintain strong security no matter where IT systems are running.”
IdentityMind KYC, AML, and fraud prevention solutions are recognized by a variety of leading market analysts, including Forrester’s “Vendor Landscape: Anti-Money Laundering Solutions,” April 2017; Representative Vendor in Gartner’s “Market Guide for Identity Proofing and Corroboration,” April 2018; Sample Vendor in Gartner’s “Hype Cycle for Identity and Access Management Technologies, July 2018; Sample RegTech Vendor in Gartner’s “Hype Cycle for Digital Banking Transformation, 2018,” July 2018; Leading AML Advanced Analytics Vendor in Aite Group’s “The AML of Tomorrow: Here Today,” July 2018; and IDC Innovator in International Data Corporation’s “IDC Innovators: Identity Proofing Solutions to Prevent New Account Fraud and Enhance KYC Compliance, 2018,” July 2018.
- IdentityMind 2.0 Introduction Video
- IdentityMind RegTech Webstore
- Oracle Cloud Infrastructure
- Oracle Dyn Web Application Security Suite
- Guide: Trusted Digital Identities – Creating a Common Framework for Proofing, Monitoring, and Trusting Digital Identities
About IdentityMind Global
IdentityMind Global, Digital Identities You Can Trust, provides a SaaS platform that builds, maintains and analyzes digital identities worldwide, allowing companies to perform identity proofing, risk-based authentication, regulatory identification, and to detect and prevent identity fraud. Built-in transaction monitoring enables e-commerce fraud prevention, anti-money laundering (AML), and counter terrorism financing (CTF). Our patented eDNA® technology securely tracks the entities involved in each transaction (e.g. onboarding, account origination, money transfers, online payments, etc.) to build unique digital identity trust reputations. This reputation is anonymously shared between customers in IdentityMind’s Global Identity Network. For more information, visit IdentityMind on Web, Twitter, LinkedIn, Facebook, Blog, and Google My Business.
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Director of Corporate Communications