Membership Benefits
Benefits of an IDPAY Association Membership:
Collective voice for mutual education and information sharing
- Reducing risk and de-risking of accounts
- Improved solutions for Anti-Money Laundering
- Improved solutions for Know Your Customer
- Shared resources for best practices
- Links and information on member product and services
- Participate in member work groups on shared deliverables
Industry Trust Framework – Public / Private Partnership led by IDPAY
- Create government agreed process and standards for agent management proofing
- Reduces risk by providing standardized assurance to the identity of an individual, agent or company
- Reduces cost of identity by creating multiple identity providers with the same level of trust
- Supports government normalization of identity requirements (KYC)
- Regulatory and law enforcement included in public / private partnership
- Improves Anti-Money Laundering and Counter-Financing of Terrorism (CFT) efforts
Work with member banks to improve mutual understanding and reduce risk
ISO 27001
- Provide an identities/payments system specific addendum to ISO 27001 for our industry
- License this to auditing partners to provide an independent audit and access to tools for self-audit
- Provide a list of certification firms
- Central listing of certified members
Work with regulatory and law enforcement agencies
- Department of the Treasury – Financial Crimes Enforcement Network (FinCEN)
- Secret Service, FBI, INTERPOL, EUROPOL, FINTRAC
- Financial Action Task Force (FATF)
- US Department of State (Counter Terrorism group amongst other divisions), Department of Homeland Security
- USAID (digital payments for development and relief activities)
- Other international agencies
Communications
- Association blog, Newsletter, and White papers
- Outreach to educate the industry, governments and the public on efforts to reduce fraud and improve industry effectiveness