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Fraud Article
The Selfie Revolution: How Selfies Tackle the Surge in Marketplace Fraud
How can marketplaces secure their platforms against a surge of fraud? Next-generation identity verification (IDV) technology is the answer.
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IDV is not just secure, fast, and friction-free, marketplace users are also spared the fuss and frustration of being locked out of their accounts when they forget the answers to security questions such as their favorite food, pet name, or mother’s maiden name.
Veriff’s IDV solution goes even further, seeking explicit permission to record customers using their device’s camera during the verification process. This makes it even more difficult for criminals to provide fraudulent document data or fake live verification.
Marketplaces have evolved almost beyond recognition in the past three decades, with the sales channel continuing to grow and innovate at speed. However, the need to fight fraud and maintain trust is more important than ever. In this environment IDV technology is proving to be truly transformative.
Fast decisions
A 98% check automation rate gets customers through in about 6 seconds.
Simple experience
Real-time end user feedback and fewer steps gets 95% of users through on the first try.
Document coverage
An unmatched 12K+, and growing, government-issued IDs are covered.
More conversions
Up to 30% more customer conversions with superior accuracy and user experience.
Better fraud detection
Veriff’s data-driven fraud detection is consistent, auditable, and reliably detects fraudulent forms of identification.
Scalability embedded
Veriff’s POA can grow with your company’s needs and keep up with times of increased user demand.
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Discover more about how IDV is powering marketplace business growth and customer acquisition.
