Qualification Checks
Commerce Enrollment Automates Qualification Checks
Office of Foreign Assets Control Check
The Office of Foreign Assets Control (OFAC) is an agency of the United States Department of the Treasury under the auspices of the Under Secretary of the Treasury for Terrorism and Financial Intelligence. OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign states, organizations, and individuals. The Commerce Enrollment service checks the merchant applicant and their business against OFAC lists to ensure compliance.
Credit Check
The Fair Isaac Corporation developed the FICO scores, a measure of credit risk, that are the most used credit scores in the world. The FICO Score is the best-known and most widely used credit score model in the United States. The FICO score is calculated statistically, with information from a consumer's credit files. The Commerce Enrollment service accesses large consumer reporting agency databases to report on individual credit worthiness. The Service utilizes the FICO score as one of the key factors in determining final applicant status. (FICO is a registered trademark of Fair Isaac Corporation).
Identity Verification
Our Service provides Identify Verification for your applicant from an industry leader. We instantly validate an identity to ensure the application process can move forward without manual intervention. The identity verification process uses a patent-pending process to access thousands of data sources containing billions of public records to return an ID validation. Identity verification takes only seconds to perform and provides "Know Your Customer" confidence.
Other Helpful Checks that Alert of Suspicious Activity
The Service will also perform checks to establish the applicant’s country location based on the computer IP address they are accessing the service from, is the phone number of their business associated with an area code that agrees with the address being reported, does the address they offer for the business agree with address verification service results, and other checks to help you manage the application based on the most information available.