Anti - Money Laundering (AML) - Anti-Money Laundering (AML) is a set of policies, procedures, and technologies that are implemented in government systems and institutions to monitor potentially fraudulent activity. ORBA One has built - in AML screenings to help your business mitigate fraud risks.
Application Programming Interface (API) - An API is a software intermediary that allows two applications to communicate and exchange information.
Developer Driven - An approach to building software tools and software interfaces that makes it easy for developers to use.
Endpoint - An endpoint can either be a source of retrieving or sending data over the Internet via a specific method, which is normally a Hypertext Transfer Protocol (HTTP) request. The ORBA One platform provides endpoints to retrieve or send applicant data to and from our customers and their respective integrations.
Know Your Customer (KYC) - The know your customer or know your client guidelines in financial services and other industries, requires professionals and business entities to verify the identity, suitability, and risks involved with maintaining a business relationship with their clients. This exists in the ORBA One ecosystem in the form of identity verification, address verification and anti-money laundering screenings.
Liveness Detection - Liveness detection is a mechanism that uses biometric technology to decipher live facial features from a fake representation. ORBA One prompts users to do a liveness detection test to verify if they're a real person.
Optical Character Recognition - Optical Character Recognition is the process of reading and examining printed or handwritten text and translating the characters into code used for data processing. It is also known as text recognition.
Politically Exposed Person (PEP) - A Politically Exposed Person (PEP) is an individual with a high profile political role, or who is promiment in the public domain. They present a higher risk for money laundering and/or terrorist financing activities because of their position.
RegTech - Coined by Deloitte, RegTech is a niche of the FinTech industry which involves “the use of new technologies to solve regulatory and compliance requirements more effectively and efficiently.” — The Institute of International Finance, 2016
Sanction - A sanction is a penalty imposed on an individual or institution due to non - compliance with laws and regulations/non - compliant activities. A sanction is typically stipulated by governments and international organizations.
Sanction List - Governments and international authorities publish sanction lists to identify individuals, organizations and governments engaged in illegal activities. These high risk parties are controlled by regulatory bodies.
SDK Integration - SDK Integration is a set of tools provided by software engineers that allows third party Software Engineers to build on top of existing tools. In ORBA One's context, our software engineers provide an SDK for various platforms such as Android, Web and iOS that allows third party software engineers to use and build their company's solution on/around the ORBA One platform.
Seamless Integration - Seamless Integration is the process of having two or more software systems exchange data or work in unison without introducing system-wide changes to either. ORBA One seamlessly integrates into your organization's existing platform to onboard customers anytime, anywhere at scale.
Real-Time Identity - Real-time Identity resolution is the process of creating a unified customer profile within seconds using identifiers such as name, email, address, phone, and device ID. ORBA One's real time identity resolution derives instantaneous customer identity through it's onboarding application.
Webhook - A webhook is an application programming interface (API) that allows an application to provide another application with real - time information.