Imagine a jewelry retail empire with hundreds of locations, an unwavering commitment to customer service, and a shining reputation for providing unmatched customer experiences at every interaction. Ranked among the top five U.S. jewelers, this industry leader seemed untouchable.
However, it soon encountered a problem: Its ID verification process was no longer foolproof. As the company expanded, it became evident that its manual ID verification process was creating awkward, transaction-ruining conversations with loyal customers. Worse still, it generally failed at detecting fraudulent transactions, losing a large sum on lost sales.
With good customers leaving and fraudsters succeeding, it became necessary to identify the problem and find a solution.
The Flaws in the Process
Beneath this glittering facade, there lay a challenge: The jeweler was heavily reliant on a conventional point-of-sale system and a manual ID verification process that involved ultraviolet lights, pens, and manual KYC (or Know Your Customer) checks by associates. With 50 states, 16 U.S. territories, and six branches of the military all offering valid IDs, it’s never been easy to recognize a fake with the human eye. Many frontline workers and waitstaff admit to using their gut to determine whether the person presenting the ID is lying. Worse still, today’s fakes are far more realistic than they’ve ever been in the past.
The jeweler’s challenging ID verification process not only strained customer relationships, but also drained revenue. Sales associates who attempted to validate IDs with ID books would often offend customers, who thought this scrutiny arose from a lack of trust. The inaccuracy of the jeweler’s manual process also sometimes permitted fraudsters to get through undetected, which led to millions of dollars in losses. The jeweler knew how to identify fraudulent transactions, but the missing piece of the puzzle was how to effectively thwart them.
The jeweler wanted a solution that provided the best experience and the best results.
How Intellicheck Helped
The jeweler turned to Intellicheck, drawn by its promise of seamless and rapid results while providing an exceptional experience for the jeweler’s customers. Because the solution could be integrated into the jeweler’s existing POS system, it enabled the jeweler to prioritize the customer experience while balancing its bottom line.
The jeweler’s head of consumer finance solutions spoke highly of the new process: “We valued Intellicheck’s ability to give us a solution that fit within our retail environment. It was very easy to implement in our technical environment and is equally as simple for stores to use. Intellicheck is a very turnkey solution.”
Additionally, Intellicheck’s reporting offered invaluable insights into fraud rates at individual stores and specific transactions. These analytics made it easy to see when stores did and didn’t utilize the software, which sped up the adoption rate. What’s more, Intellicheck’s automated identity verification process permitted associates to move customers through the buying process faster and easier while significantly reducing false negatives, all without awkward conversations with their loyal customers. Because it also significantly reduces the number of fraudulent applications that are processed by store associates — the transaction stops when IDs aren’t validated through Intellicheck — the jeweler had much better protection against fraudsters.
With a legacy built on exceptional quality, the jeweler is committed to making each customer’s buying experience seamless. Intellicheck’s solution has supported its efforts by creating a very straightforward ID verification process, and we can do the same for your business. Learn more today!
About Intellicheck
Intellicheck (Nasdaq: IDN) is a pioneering identity solutions company specializing in on-demand digital identity verification. Trusted by a diverse array of industries, including finance, fintech, e-commerce, law enforcement, and government agencies throughout North America, Intellicheck’s versatile solutions validate both digital and physical identities. Accessible through mobile devices, browsers, and retail point-of-sale scanners, Intellicheck sets the gold standard for identity verification.
