Amount, a leading technology platform for financial institutions, today announced AmountVerify, a cloud-based platform for risk management across financial products. AmountVerify marks the first time industry leading fintech provider Avant is making a component of its cutting edge online lending platform available to financial service companies as a standalone product through Amount.

AmountVerify is an end-to-end cloud-based platform that facilitates digital account opening verifications across multiple consumer financial products, including personal loans, credit cards and deposits. Specifically, the platform handles all aspects of account verification, including identity management; income and employer verification; and Know Your Customer (KYC) and Customer Identification Program (CIP) requirements. With AmountVerify, financial service companies have access to a customizable platform with a suite of best in class identity and verification tools that enable them to configure their own strategies, utilize default rules and settings to segment and mitigate risk, and white label both consumer and agent interfaces.

“Until now, account verification has still been too time consuming and difficult. There is a real need for a cutting-edge, one-stop technology solution for account verification, and it’s a void we can fill with technology we’ve already been using at Avant,” said Al Goldstein, CEO of Avant. “With AmountVerify, we’re making the latest version of our own account verification technology available to the market, which gives financial services companies access to our finely tuned technology and proprietary risk scoring.”

AmountVerify will be available to banks and financial services companies in late 2019.

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SOURCE Avant