Watch the clip above and be sure to check out the full episode located below the show notes.
Bonifii President/CEO John Ainsworth and Equifax SVP, Global Identity and Fraud Adam Gunther joined us on the show to share the organizations' partnership announcement and what it means for credit unions' member ID authentication efforts moving forward.
Both John and Adam shared what the partnership calls for, which provides credit unions continuous KYC/CDD monitoring as a value-added service to Bonifii's flagship product, MemberPass®. This service will be greatly beneficial for credit unions that are interested in issuing a MemberPass verifiable credential to new members who join the credit union.
MemberPass will be able to validate the credential information a consumer or small business provides for membership against Equifax’s multitude of data sources across its proprietary network. Prior to this announcement, credit unions have primarily focused on issuing MemberPass to existing members and relying on current KYC processes to ensure the authenticity of their members.