Account opening and fraud prevention: Experian named market leader in Liminal Link Index

Published: October 5, 2023 by Managing Editor, Experian Software Solutions

With heightened consumer demand for an improved customer experience online, and the increasing threat of fraud, how can organizations ensure secure and efficient customer onboarding in today’s digital landscape?

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Onboarding the highest number of customers while maintaining compliance and security

Digital account opening is in demand. Businesses are competing to create the most effective onboarding experience, while managing the need to draw on multiple sources during account opening. The onboarding stage of the customer lifecycle plays a pivotal role in establishing trust between the customer and the business. Friction during the digital account opening process can lead to customer dropouts, resulting in lower growth for organizations. Moreover, the ever-present threat of fraud necessitates organizations to be vigilant and enhance customer journey with an added layer of verification and protection.

Liminal, a leading market intelligence firm specializing in digital identity, cybersecurity, and fintech markets, recently recognized Experian as a market leader for compliance and fraud prevention capabilities and execution in its Liminal Link Index on Account Opening in Financial Services.

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The report highlights that solution providers in financial services are focused on delivering high levels of assurance while maintaining regulatory compliance and minimizing user friction.

Access to real-time verification data, risk analytics and decision-making strategies make it possible for clients to verify identities, detect and prevent fraud, and ensure regulatory compliance. Experian’s identity verification and fraud prevention solutions, includingCrossCore® and Precise ID®, received the highest Link Score out of the 32 companies highlighted in the report. It found that Experian was recognized by 94% of buyers and 89% identified Experian as a market leader.

“We’re thrilled to be named the top market leader in compliance and fraud prevention capabilities and execution by Liminal’s Link Index Report. We’re continually innovating to deliver the most effective identity verification and fraud prevention solutions to our clients so they can grow their business, mitigate risk and provide a seamless customer experience.”

Kathleen Peters, Chief Innovation Officer for Experian’s Decision Analytics business in North America

The report offers valuable insights into the market overview, demands, challenges, purchasing criteria, vendor landscape, landscape analysis, and buyer opportunities.

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