SSN + AML Solution

Overview

Persona’s SSN + AML solution allows organizations to compare a US-based individual’s name, Social Security Number (SSN), and address against trusted authoritative data sources to verify the provided information by making use of Persona's Database Verification product (sometimes referred to as Authoritative Database Verification). The solutions also screens against key Anti-Money Laundering (AML) and Politically Exposed Person (PEP) watchlists. This solution helps you efficiently verify identities and meet AML compliance requirements.

In this guide, learn:

• What’s included in the solution
• How the components work together to verify SSN details and screen for AML risks
• How to customize and extend this solution for your specific needs

What’s Included

The SSN + AML solution includes the following components:

1 Inquiry Template

• Database Verification
  • Collects key identity information including name, SSN, and address.
  • Uses the Database Verification to compare provided data against authoritative data sources
  • The Inquiry theme can be customized to match your company’s branding.

2 Workflows

• Run 'Decision' on Inquiry Completed Workflow triggered on inquiry completion
  • Automatically applies your decisioning rules based on the Database verification results and other business logic.
  • Also triggers Reports for PEP and Watchlist screenings within the Workflow.
  • You can include additional actions such as triggering reports, notifications, or case escalations.
• Run 'Decision' on Inquiry Failed Workflow triggered on inquiry failure
  • Automatically creates a case for failed inquiries

2 Report Templates

• Watchlist Report Template
  • Automatically screens individuals against global AML watchlists and sanctions databases. This template helps you identify users flagged in regulatory databases relevant to financial crime and compliance.
• Politically Exposed Report Template
  • Screens individuals against PEP lists to detect users who may present a higher risk due to their political status or public profile.

1 Case Template

• SSN + AML Manual Review
  • Creates a Case if the user fails the verification or if additional manual review is required.
  • Includes tags or comments indicating why the Case was created, allowing your team to review and resolve cases as needed.

SSN + AML Solution Process

Here’s how the components work together to verify a user’s SSN details and perform AML screenings:

1. The Inquiry captures essential user identity information including SSN and runs a Database Verification and automatically screens the individual against AML watchlists.
2. Once the Inquiry is completed, the Run ‘Decision’ on Inquiry Completed Workflow is triggered to apply your decisioning rules and run the PEP and Watchlist Reports.
3. If additional review is needed or the Inquiry fails, a SSN + AML Manual Review Case is automatically created for your team to review and resolve.

If you’re interested in using advanced reports or verifications to meet regulatory or compliance needs, contact your customer success manager or reach out to the Persona support team.

Where to find this Solution

This solution is available to organizations in the Solutions Library. The Solutions Library includes helpful pre-configured combinations of Persona products and features that can be a good starting point for many businesses or use case.

To get to the solutions library:

1. While viewing the Dashboard, click Home in your navigation.
2. Under Explore all solutions, click Browse.

Solutions in the solutions library generally include end user verification flow or experiences powered by Inquiry Templates and Verification Templates. They also feature Workflows that automatically approve an Inquiry or create a Case when risky signals (like a failed Verification) are found, and a Case Template to ensure that your business is well set up for reviewing these higher risk scenarios.

Plans Explained

Learn more about pricing and plans