Complementing Fraud Defense with Identity Pre-screening

As technology progresses, digital services such as neo-banks, financial services, and similar businesses are taking over.

Discover how digital footprints can be harnessed as a powerful tool to combat the pervasive threat of lead generation fraud. The market has seen a massive rise in remote customer onboarding. It is therefore important to understand how identity fraud schemes work. In an identity fraud scenario, a perpetrator uses fabricated or someone else's personal information, such as name, identification document, SSN, or credit card, to commit fraudulent activities or gain unauthorized access to an account in expectation of a financial benefit. This can involve creating new accounts, making unauthorized transactions, or impersonating the victim for other malicious purposes.

Identity proofing is often used in situations where security is a concern, such as in financial transactions or when accessing sensitive information. However, simply checking certain documentation is not enough to ensure security. That's where corroboration comes in. Overall, identity proofing and corroboration are essential tools in maintaining digital security and protecting organizations and companies from financial loss and reputational damage. Identity Proofing and Corroboration can also be regarded as additional means of protecting financial institutions from potential revenue losses. This is where pre-screening identity steps into the spotlight. It introduces an assortment of signals and allows organizations to cast a wider net to catch potential fraudsters at an early stage. Depending on the accuracy of digital footprint analysis, the fraud process is reduced significantly.

Discover the transformative power of identity pre-screening in the realm of digital onboarding. Dive deep into the world of identity verification, explore the challenges of remote verification, and understand the impact of identity fraud on the digital market.

Key takeaways from the "Identity Pre-screening" white paper:

• The evolution of digital onboarding: delve into the evolution of digital onboarding and how it has reshaped the way businesses verify identities in a fast-paced, digital-first world.
• Unlocking the potential of identity pre-screening: explore the intricacies and hurdles of identity verification and learn how identity pre-screening can be a game-changer in mitigating identity fraud.
• Leveraging digital signals for enhanced security: understand the significance of leveraging digital signals and pre-screening to fortify your fraud defense strategy. Learn how combining these elements can significantly enhance your identity verification processes.

Want to know more?

Download the full-version of this white paper and learn how digital footprints can help to prevent online transaction frauds.