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MonitorX Free Trial

Lennart Becker

 

Introduction

The Agreement Express MonitorX solution is a cost effective tool that allows you to conduct ongoing risk monitoring on your merchants. With MonitorX you get all of the great features of ScanX including; auto-decisioning capability, it's easily configurable, track merchant onboarding and monitoring in one place, and it's fully auditable. 

Overview

To launch a MonitorX scorecard users will utilize the Workspace monitoring feature. If you decide to use MonitorX as a permanent solution, there are two additional methods to launch the scorecard- via API and automated Scheduled Monitoring

  1. Workspace Monitoring

    1. Select a completed scorecard in Workspace, then click ‘Run Monitor’

Workspace Monitoring

If you select a completed scorecard in Workspace, you will see an option to Monitor in the action bar:

Select MonitorX free trial in the drop down list of scorecards presented. If you choose to update data, the Scorecard will be launched in DRAFT mode. You will have the opportunity to edit fields and then click PUBLISH to initiate ScanX integrations.

 

Common scenarios when monitoring is needed:

  • High-Risk Merchant Industry

  • High-Risk Merchant Volumes

  • Merchant parameter increases in dollar volume/number of transactions processed during

    a specific time frame

  • Ownership or Business Name change

  • High seasonal volume

  • Funds released from merchant reserves

  • Funds released from suspension

  • Industry trends

  • Processing method changes (for example, keyed to swipe/EMV, retail to MOTO, MOTO to

    e-commerce

  • Marketing methods changes

  • Merchant bank account changes, including:

    • Large merchants with bank account changes

    • More changes than any established policy threshold within a specific time frame

  • Not always High-Risk > some is just required by compliance and AML policy

    • OFAC Monitoring

    • MATCH Monitoring (best practice)

 

What can I do with MonitorX?

All of the scoring rules in the Scoring Rule Library can be used with MonitorX. Customers will need to be setup with Monitoring Scorecards in order for them to utilize this functionality (or they can rerun their entire scorecard but this is not recommended since many rules are not needed for monitoring).

Common scenarios include:

  • OFAC Monitor

  • Mastercard MATCH Monitor

  • Credit Monitor

  • Webcrawl Monitor

  • Bank Change Verification

 

FAQ

 

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