With particular reference to the financial services industry, GB’s ID verification technology allows organisations to verify customer identity in line with a risk-based approach as recommended by the UK’s regulatory body the FSA. Our ID3 applications are the only ones on the market that will score customer information according to your known risk profiles. In the UK, our URU service can overlay checks against location, product type, customer demographic and channel, with all findings stored in an instantly accessible 24/7/365 audit trail. Which means that the customer application process can proceed without the need for any manual intervention. Which results in more good prospects staying with the process while the robust anti-fraud technology also offered by ID3 technology keeps the fraudsters at bay.
In non-regulated industries such as retail or mobile telecoms, fraud is a particularly big issue – especially online. But for many organisations, the need to maintain – and grow – revenues is paramount even if it means accepting a certain level of fraud. Using ID3 technology within the account set-up process means that customers can undergo a basic identity check without any interruption to the levels of service.
In the online environment, a customer is already providing you with most basic identity information in order for you to process the purchase. So with a full name, address and payment card, you can already confirm identity instantly to a high degree of assurance, reducing fraud levels significantly without impacting the customer journey.