We all understand the importance of identity verification and fraud prevention when it comes to mitigating risk, acquiring new customers and meeting compliance standards. Because of this, IDology recently launched ExpectID Score which enables organizations to further enhance their customer authentication process by creating their own risk profiles and scoring models.
What is identity risk scoring? Identity risk scores are an easy way for businesses to assess the risk of a particular transaction. By examining a transaction as high, medium or low risk, organizations can simplify the approval processes and enhance their business rules regarding fraud.
When might you need identity risk scoring?
Through our ExpectID Score solution, you will gain the ability to “DYI” your own identity risk score utilizing our adaptive scoring functionality which allows you to create scoring models that fit your business rules and adapt to evolving fraud tactics. Identity attributes and fraud indicators can be assigned values based on risk to your business and then these values can be placed into risk thresholds that you, in turn, score.
There are many additional benefits to identity risk scoring. Check out our new infographic called “DYI Identity Risk Scoring” for more information.