Solution by Use Case:
Identity Validation can be Slow
Account onboarding is the process of signing up a new user to your product or service. As an introduction to a potential new customer, it’s important to get things right. To get things right so that you don’t hurt the brand, and to get things right so you don’t hurt your bottom line. This means that you’ll need to ensure that your identity verification and compliance checks do what they are supposed to do without damaging your experience.
If identity validation is slow, prospective customers do not stay to complete the process. If identity validation is not thorough enough, then fraudsters become new customers
The Intellicheck has 3 Answers
Intellicheck offers three services for your Account Onboarding process:
Identity validation with a mobile device that can be up in running in less than a few hours
Identity validation with a mobile device or POS scanner that can be up and running in a few hours, scan and ID
Identity validation that integrates in your app or process
The Intellicheck difference.
Better experience across all channels
Get better decisioning with less “friction”
Fast process, fewer steps
Decisions in under a second
More accurate, better decisioning
Make the right decision with every transaction
Turnkey solutions up and running in an hour, and API solutions that can be tailored to match your process and systems
Stopping Account Takeovers
The Situation: This financial services company was focused on stopping account takeovers.
They checked identity whenever a customer tried to access an account with a value over $1500. In March 2023 alone, this equated to 141,000 identity checks.
For each account takeover, this company was losing between $2,500 to $3,500.
Intellicheck's High Accuracy
In March 2023, using Intellicheck, the company:
- Was able to make a decision whether the ID is real or fake in all of those 141,000 transactions. No manual review or manual intervention was needed in the process. The process, start to finish, took less than a second per identity check.
- Had a confirmed accuracy rate of 99.992%. That is, the decision provided by Intellicheck was correct 99.992% of the time.
- Was able to cut their losses by as much as 78%.
Discover how Intellicheck can help you with account onboarding.
Fraud assessments are special tests designed to discover your business’s current fraud risks. Vulnerabilities of all types must be carefully analyzed and, ultimately, addressed for
1. Attempted Fraudulent Logins Increased 282% Last Year Fraudsters looking to cash in on the wave of newly digitized business processes and online consumer offerings