The evolution of identity verification
Knowing who you are doing business with isn’t just a sound business practice to protect your bottom line. In many cases, it also is a legal requirement. Identity verification techniques have been evolving over the past few years to meet business priorities beyond fraud prevention, including customer experience, operational costs and regulatory compliance. We recently wrote about the challenges of customer authentication on mobile devices to meeting new business priorities.
Fraud prevention tools have responded to these shifting priorities. While extremely fast and very accurate at detecting fraud, they also:
- Are less invasive to customers
- Provide a strong return on investment
- Ensure consistency in compliance and audit
Listen to what Matt Ehrlich, Experian fraud and identity director of product management, has to say about how verification techniques have changed:
Download our fraud prevention perspective paper to gain more insight on how you can prepare your business.
