G2

Overview

Founded in 2004 and headquartered in Bellevue, Washington, G2 Web Services is known as a leading provider of solutions to detect, mitigate, and track payment risk for their merchant and business customers.

Acquiring more than a decade of merchant unique data, this information has been housed within their G2 Merchant Map. The G2 Merchant Map is considered the industry’s most comprehensive fraud and compliance database. 

The company’s unique and distinctive expertise lies in its combination of leading-edge technology, data science, and profound domain expertise, empowering them to easily identify third party merchant risk for some of the world’s major financial institutions. 

G2 can equip merchants with the solutions they need to help them manage the merchant lifecycle in its entirety. Here are some of its solutions: 

• Global Boarding: With this solution, bad merchants can be weeded out, avoiding “due diligence expenditure”. This automatically translates into savings. Quicker boarding decisions can be made. More profitable merchants will be boarded. This dramatically reduces the risk of assessment. 

Global Boarding’s key features include:

• Compass Score®: Get an instant risk rating after you analyze the history of the merchant and network of any associates. This gives an accurate picture of the future behavior of this merchant.
• Content Compliance Review: Get a thorough review of a merchant’s website to detect any illegal or “brand-damaging content”. This information is verified by a G2 risk analyst. 
• Industry Background Report: Here you can compare data points within the merchant application in relation to global screening lists of “PEPs”, any financial sanctions, and other high risk institutions.
• Business Policies Inspection: You can compare the information given on the merchant’s application with the contact information on the merchant’s website such as the address, billing and corporate information. 
• Service Provider Analysis: Categorize your merchant’s third-party service providers. Determine which merchants are not registered with card networks, not PCI DSS compliant, or simply high-risk.
• Portal Upload: Upload new merchant information directly into the portal. 
• Analyst Review: When violations are flagged, they are first evaluated and confirmed by a G2 risk analyst to guarantee the highest standard in results.
• Advanced Reporting: Reports are generated within 24 hours, accompanied by screenshots of “violating content”, including source links, and the required documentation as requested by major card networks. 
• Modular Pricing: The merchant risk check process can be completely customized by selecting the preferred modules. 

Persistent Merchant Monitoring: With this tool, clients can keep an eye on their merchant’s portfolio for any content violations. It also allows clients to monitor unusual merchant activity from both low and high risk merchants. This significantly cuts back on chargebacks, customer disputes, and assures compliance with card networks.

Persistent Merchant Monitoring’s key features include:

• Dashboard Analytics: Have quick access to key portfolio indicators.
• Search and Filtering: Only search for content that is most meaningful and relevant. 
• Summary Reporting: Consolidated summary data gives you the information to act.
• Multilingual Site Crawling: Regardless of the language displayed, you can crawl and extract data. 
• Easy Data Submission: Submit merchant data through API or through the G2 portal. 
• Analyst Review:  Have all violations assessed by a G2 risk analyst. 

Transaction Laundering Detection: As the first firm to detect launderers back in 2006, G2 equips clients to stop past offenders before they attack again. Clients can also receive prior notice of global risk before they make their way to your area. With the help of a human analyst, you are able to detect, classify, and confirm violations that are directly tied to your merchant. Evidence to support the case for terminating a violating merchant are also provided. 

Transaction Laundering Detection’s key features include:

• Known Launderer Check: Use many years’ worth of data on launderers to consistently scan your portfolio for well-known violation connections.
• Test Card Transactions: Discover the payment path between the merchant performing the violation and the merchant processing the illegal payments. 
• Analyst Review: G2 analysts are equipped to provide meticulous insight into possible and confirmed transaction launderers and any violating trends. 
• Live Alerts: Client services specialists are ready to provide instant notification of any transaction laundering activity.
• Client Requested Investigation: A trained analyst can fulfill a request to investigate a suspicious merchant.
• Datafusion™: Uncover concealed transaction laundering networks and merchant violations thanks to G2’s data and industry partners. 

On July 27, 2017, Verisk Analytics, Inc., a prominent data analytics provider, signed an announcement to acquire G2 Web Services. G2 Web Services will become part of Argus, which is a Verisk Analytics business, enabling Argus to expand its offerings to both its clients and its partners. Their goal is to provide exceptional, industry-leading solutions for merchant and consumer fraud, as well as reputational risk detection.

Argus is a leading provider of scoring solutions, information, and advisory services for financial institutions worldwide. Its client base includes financial institutions, along with its regulators, many companies within the media industry, and more. They take valuable data and convert it into intuitive information and analysis for clients to better understand their respective contributions into the market. They are also able to manage and mitigate risk to reach their financial goals. 

Verisk Analytics is a prominent data analytics provider that serves customers in insurance, natural resources, as well as financial services. With their use of advanced technology, they are able to gather and analyze billions of records. Verisk taps into its unique data assets and deep domain expertise to offer “first-to-market innovations” that are incorporated into customer workflows. 

With its headquarters in Jersey City, NJ, it also offers “predictive analytics” and decision support tools for customers in rating, claims, underwriting, catastrophe and weather risk, and many more fields. Verisk Analytics helps customers protect individuals, property, and financial assets the world over. 

Nana Banerjee, group president of Verisk Analytics released this statement:

 “We’re thrilled to have G2 join the Verisk family, both G2 and Argus share the same focus on deploying sophisticated data-driven solutions and making business safer for our clients, including banks, payment platforms, networks, and acquirers. G2 is changing the way the financial sector identifies and mitigates risk and fraud, and we firmly believe that our many other client companies across the globe will benefit from being part of the G2 platform.”

Allison Guidette, chief executive officer at G2 Web Services added:

“By joining with Argus, we will take our proprietary data assets, powerful technology, and deep domain expertise to the next level in helping clients fight fraud, transaction laundering, and reputational risk within the global payments and e-commerce ecosystem. Together we will expand our capabilities to map bad-actor networks, predict payments risk, and provide clients with the best opportunity to reduce losses and fines due to merchant and business fraud and compliance violations.”