Doing business in a digital environment generates not only significant revenue opportunities but also substantial risk. It is important for businesses and financial institutions to implement Know Your Customer (KYC) processes in order to maintain due diligence, deter fraudsters, and be in compliance with anti-money laundering (AML) regulations. The ability of an online identity verification service to process and approve customers quickly and without friction is the key to competitive success.
Identity Verification with ExpectID®
ExpectID uses a multi-layered process to access thousands of data sources containing billions of public records to instantly validate an identity while also providing predictive, intelligent information around that identity. This enables you to make quicker and smarter decisions on what to do next: approve, deny, or escalate.
ExpectID’s identity proofing process is so fast and seamless that it happens without interruption to the transaction and without customer interaction. To help ensure an optimal customer experience, ExpectID is able to verify identities using just the customer’s name and address, so your customers will be comfortable with the amount of information they are required to share. That means there is no need for customers to disclose typical identity documents (like driver’s licenses or other photo ID cards) or more personal information and data (like social security numbers or date of birth), which is information that can put people at risk for identity theft and fraudsters if mishandled or unsecured.
How Identity Verification Works With ExpectID:
- Basic customer information is submitted into the ExpectID engine.
- ExpectID returns a result, including any ID verification discrepancies.
- The returned identity is analyzed by a deep set of fraud detection layers to help minimize risk.
- Depending on the results, the transaction can be approved, failed, or escalated for additional verification through ExpectID IQ, ExpectID Scan Verify, or ExpectID Secure OTV.
Multiple, Smart Layers for Intelligent Verification
Analyzing multiple layers of identity attributes (including location, activity, device, and email attributes) can present a much more detailed and accurate likeness of identity than with just simple ID document verification. ExpectID’s layers work together seamlessly to help you decide with confidence.
Need an online identity verification service outside the United States? ExpectID Global is the international expansion of IDology’s identity verification and fraud prevention solution.
I like the escalation paths – it’s not just pass/fail, but a range we can work with to make more informed decisions.
– Scott P., Manager of Technology. Vacation Rental Management Company.
Implementation & Configuration
Effectively fighting identity 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 and onboarding methods include: web portal access, API integration, and batch uploads (delivery methods vary by solution—contact us for more information about onboarding).
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 technology. Our unique, on-demand identity verification and authentication solutions 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 ID verification process from start to finish.