Dynamic KBA

Dynamic Knowledge-Based Authentication Asks Customers Out-of-Wallet Questions to Verify Identity & Deter Cybersecurity Fraud.

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It’s difficult to establish trust when you can’t look someone in the eye. Whether it’s to open a new account or reset a forgotten password, dynamic knowledge-based authentication provides a simple, non-intrusive way to verify and authenticate customers.

Knowledge-Based Authentication with ExpectID® IQ

Verifying and approving customers quickly and without friction is the key to success in this competitive digital business age. That is where IDology’s line of ExpectID identity verification solutions come in handy. By analyzing multiple layers of identity attributes — including location, activity, device, and email attributes — ExpectID can present a much more detailed and accurate likeness of an identity. ExpectID’s layers work together seamlessly to help you decide with confidence. For dynamic KBA needs, we offer ExpectID IQ.

ExpectID IQ is a dynamic knowledge-based authentication cybersecurity solution that asks consumers a series of relevant, multiple-choice, “out-of-wallet” questions. This layer of consumer challenge allows your business to confirm that “Bill Anderson” is truly Bill Anderson.

IDology’s ExpectID IQ is the most flexible and robust knowledge-based authentication solution on the market, providing dynamically generated questions to even thin file customers. This solution can be used as a primary means of identity verification or as a step-up authentication for certain high-risk situations, based on your specific business requirements.

Fraud Deterrence
Fraud Deterrence
Authenticate identity with personal data during onboarding and keep fraudsters out.
Step-Up Authentication
Step-Up Authentication
Confirm identity with dynamic security questions during high-risk situations such as password resets.
Better Decisioning
Better Decisioning
Approve, deny, or escalate verification based on your unique business requirements.

How ExpectID IQ Works:

  1. ExpectID IQ scours billions of public data records to intelligently derive tactful, non-credit-based questions to authenticate identities and deter fraudsters and data breaches.
  2. Based on the number of questions answered correctly, businesses can deny or approve the transaction, or ask additional challenge questions with ExpectID IQ Challenge.

With IDology, we are able to set
our own rules and response text.

– Emma B., Director of Compliance. Fintech Payments Company.

Why ExpectID IQ Is Better Than Other KBA Solutions

There are several types of KBA, but unfortunately, they all tend to get lumped together. IDology’s dynamic KBA solution, ExpectID IQ, leads the industry in its ability to present robust security question sessions. Here’s why:

 

Dynamic Generation: Static KBA questions (commonly called shared secrets that leverage personal information such as your mother’s maiden name) are easy for fraudsters to social engineer (or, in some cases, simply Google) because the question and answer are always the same. Unlike static KBA, dynamically generated out-of-wallet questions with multiple-choice answers are different each time, making them more secure.

Relevant Demographic Data: Security questions based on public records and credit data from financial institutions ask about a person’s credit report, banking, and mortgage activity. These questions are difficult to answer because the answers aren’t memorable, which can impact your customer experience. Questions based on demographic data, however, such as nearby street names, are more relevant and easier for consumers to recall the correct answers.

Integration with the ExpectID Platform: ExpectID IQ is supported by a deep set of fraud prevention and analytical features. Combine ExpectID IQ with other IDology solutions for more powerful, robust verification, authentication, and fraud prevention at every step, from account creation to password reset.

Demographic KBA Questions Offer Better User Experience
Over half of American consumers would rather answer demographic security questions if given a choice in their customer experience. Only 17% prefer credit questions.
Consumers Are Confident with Demographic KBA Questions
The majority of American consumers feel it’s a company’s responsibility to protect their customers' personal information from data breaches and fraudulent use.
Consumers Believe Knowledge-Based Questions Are Secure
Almost half of American adults believe KBA questions are an “extremely” or “very” secure method of authentication.

IDology gave us the flexibility to select and change the questions we ask based on what our customers were comfortable with and the risk tolerance that we were comfortable with.

– David S., Senior Director of Product Management and Product Marketing.

 

Create customized questions using your own proprietary customer data: learn more about ExpectID® Customer-Based Authentication.

Implementation & Configuration

Effectively fighting fraud is a group effort. IDology’s Consortium Fraud Network amplifies real-time fraud intelligence between companies and across industries, giving you the power to leverage the fraud mitigation efforts of every IDology customer. A combination of machine learning and human intelligence work together to detect repeat transaction attempts across the network or flag specific attributes associated with known fraud.

We couldn’t say we improve the verification process if we made it difficult to deploy any of our identity solutions. Depending on which solutions and delivery methods you select, you could have our identity verification and authentication solutions up and running in a matter of minutes or just a few days, without large upfront costs. Potential delivery methods include: web portal access, API integration, and batch uploads (delivery methods vary by solution—contact us for more information).

With criminals attempting new tricks every day, being able to quickly meet the rapidly changing fraud landscape is a necessity. That’s why IDology offers easy-to-use, completely customizable cybersecurity technology. Our unique, on-demand identity verification solutions and authentication methods offer point-and-click flexibility so that you can change rules and settings within the system whenever you want, 24/7, without burdening your IT team. With IDology, you manage the identity verification process from start to finish.

The Role of Dynamic Knowledge-Based Authentication in a Digital World

Knowing Knowledge-Based Authentication

Consumer Digital Identity Study: A New Era in Identity Verification