ABA and LexixNexis ally to offer new USA Patriot Act solution.(American Bankers Association)(LexisNexis Group)(Brief Article)

Bank Marketing, March, 2003

ABA and LexisNexis have formed an alliance to help banks combat terrorism, reduce identity theft and comply with the USA Patriot Act with their new service, IDPoint.

The USA Patriot Act mandates that banks verify the identity of all new customers, maintain records of this information and determine if the customer is on any list of known or suspected terrorists or terrorist organizations.

IDPoint utilizes a special process developed by LexisNexis' RiskWise unit to perform numerous verification steps to validate the identity of an individual. By using multiple cross checks of extensive name, address and telephone records--from hundreds of credible and independent sources--the system can provide real-time verification of an individual in a few seconds,...

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