At IDology, we are extremely pleased this week to announce the launch of our new ExpectID Scan and ExpectID Scan Verify solution. Check out our press release on the launch by clicking here.
This solution was really developed out of a need from our customers – to automate that “last mile” of the verification process, i.e. the tedious manual review process.
“We are very excited to announce the launch of ExpectID Scan and ExpectID Scan Verify,” says John Dancu, CEO of IDology. “IDology has automated the entire KYC/CIP process through one integrated solution including the inefficient manual review process used today. In a waterfall approach, customers are able to validate applicants using IDology’s automated ExpectID solutions and dynamically escalate to ExpectID Scan and Verify only if necessary. This minimizes friction with the consumer experience, drives customer acquisition and lowers the overall costs.”
ExpectID Scan and ExpectID Scan Verify provide our customers the ability to validate a photo ID where document review would normally be required. By eliminating a timely manual review process, ExpectID Scan improves not only the customer experience but customer service and acquisition as well. ExpectID Scan has the ability to validate passports, state ID’s, driver’s licenses, and international ID’s from over 60 countries worldwide. After the ExpectID Scan solution validates the legitimacy of a photo ID, ExpectID Scan Verify correlates the data to application input as well as performs additional reviews such as deceased and OFAC checks.
“This is another innovative IDology offering which keeps with our tradition of bringing enhanced value to our clients,” said Dancu, “We know from our customers what a challenge the manual document review process can be. Response rates are typically low and faxed documents are often not legible. ExpectID Scan and ExpectID Scan Verify automate and strengthen the document review process which, in turn, increases customer acquisition and drives significant revenue. We are also able to correlate the scanned identity document to other data sources and enable dynamic decisioning based on the results.”
ExpectID Scan and Verify is an international solution – allowing customers to evaluate and approve international, thin-file, young and new-in-country identities as well as gain better insight into potential risks associated with an identity.
ExpectID Scan and ExpectID Scan Verify primarily works in online transactions or interactions where a business would typically require a customer to fax in a photo ID for review before being able to approve the particular transaction/interaction. For example, if a customer fails verification (which could be for a variety of reasons determined by the organization’s business rules), the customer would now be asked to scan a copy of their photo ID via their webcam or upload an image of their ID, which is then sent for validation and correlation with application input as well as additional identity attributes such as if the subject is deceased, if it is a valid SSN, if the name or DOB matches, if the address matches, etc. Manual review costs are high and response rates can be low – even if the customer faxes in their document, in many cases, the documents are unreadable. Also, the document reviewer is only able to make decisions off of what is in front of him or her. ExpectID Scan and Scan Verify automates this process and allows business to approve more customers.
Benefits of ExpectID Scan/ExpectID Scan Verify:
- Faster customer approval drives more revenue
- Automates/Replaces manual review and reduces the cost and time
- Builds a stronger review process
- Improves customer experience – no need for customer to fax in documentation
- Takes the guesswork out of reviewing documentation for accuracy and validity
- Allows for validation of customers when traditional IDV cannot locate them
- Further validation to meet compliance regulations
- Reduces incidences of fraudulent activity
- Flexible configuration that doesn’t require IT resources to maintain
- Seamlessly integrated with other IDology solutions
Read more about our new solution here.