Costa Mesa, Calif., June 20, 2018 —Identifying customers accurately is becoming increasingly important for companies in today’s digital landscape. Gartner’s April 2018 Market Guide for Identity Proofing and Corroboration focuses on “identity proofing and substantiation use cases in remote (non–face-to-face) interactions (online, mobile web, mobile app, interactive voice response [IVR] or voice-based calls).” This year, Experian® was one of only three representative vendors to provide all the listed capabilities in all six identity proofing and corroboration use cases. According to the report, “There are myriad data types and signals that must be corroborated and analyzed in order to achieve a sufficient level of trust in a modern identity proofing and corroboration use case.”
The 2018 Gartner Market Guide, authored by Tricia Phillips, Jonathan Care, Danny Luong and Ant Allan, points out several key findings regarding identity proofing and corroboration. The analysts found that “many enterprises who have justified onerous demands on their customers ‘for the security of your account’ are learning that the changing demographics of their target customer base prioritize convenience over security.”
“For businesses, there’s a delicate balance between delivering an online experience that makes customers feel safe and protected and avoiding unnecessary hurdles,” said Donna DePasquale, Experian’s senior vice president of Global Decision Analytics. “We need to help organizations identify their customers better, rather than challenge them. Advanced technologies such as device intelligence and behavioral biometrics allow businesses to enhance the customer experience while reducing exposure to fraud.”
According to recent research from Experian’s 2018 Global Fraud and Identity Report, 84 percent of businesses say the need for fraud risk mitigation could be reduced if they were certain about customers’ identity. The research also found that three-quarters of businesses are interested in more advanced security measures and authentication processes that have little or no impact on the customer.
“Simply put, the ability to identify your customer upfront means you can spot fraud more quickly and protect people’s identities more easily. Multilayered solutions that use advanced technologies tailored to the customer experience are the future of fraud prevention,” added DePasquale.
Experian offers identity verification capabilities specifically designed to deliver comprehensive online fraud management that can be deployed quickly so companies can make more informed fraud decisions by identifying the fraudsters better and stopping fraud attacks before they happen. All fraud and identity services are available through Experian’s CrossCore® platform, the industry’s first open platform for fraud and identity services.
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