Louisville, KY- (10/18/2016) Electronic Verification Systems (EVS) announced today that Stone Bank, a locally owned bank located in Stone County, Arkansas, has selected IdentiFraud Consumer+ for identity verification to prevent fraud and meet compliance requirements.
Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations require financial institutions to verify the real identity of their customers when establishing new relationships, including opening of new accounts. As consumer banking continues to shift online and online fraud increases, it is more important than ever for financial institutions to reliably verify their customers.
Electronic Verification Systems’ EVP of Client Development, Eric Knapp, said “It’s definitely a rewarding process to be able to assist a client and help them achieve their KYC/AML compliance requirements and goals with an easily implemented, cost effective solution. We are thrilled Stone Bank chose EVS as their identity verification and KBA provider. On behalf of EVS, we look forward to a long lasting relationship!”
Stone Bank takes pride in their deep local roots, and their dedication to providing the highest level of service to members of their community. By utilizing IdentiFraud Consumer+ with dynamic Knowledge Based Authentication (KBA), Stone Bank will be able to ensure the integrity of new customer relationships while maintaining a streamlined account origination process. The Web Services API made available by EVS will allow for seamless integration with existing systems, and will allow Stone Bank to continue their focus on serving their customers throughout Arkansas.
About Electronic Verification Systems (EVS)
Electronic Verification Systems (EVS) is a leading provider of identity verification solutions designed to help businesses combat identity theft, control costs, satisfy governmental regulation and support audit and control requirements. With clients in the financial services, retail product, brokerage, education, insurance and corporate security industries, Electronic Verification Systems provides powerful and innovative solutions to businesses and organizations across the world.
About Stone Bank
Stone Bank is a locally owned independent community bank built by community leaders in Stone County, Arkansas. Stone bank offers consumer and business banking products including depository accounts, investments, and loans. With deep roots in North Arkansas, Stone Bank understands the special needs of agricultural producers and rural homeowners.
Stone Bank was recently recognized by the Independent Community Bankers of America as a “Top Performer” and Arkansas Business as leading all Arkansas Banks in return on assets. Stone Bank is dedicated to providing the highest quality of service to the members of our community, and helping small business owners grow and thrive in the community.