The internet has reached peak identity fraud. Like wolves in sheep’s clothing, criminals steal real identities or create fake ones. They hurt millions of people and businesses, robbing them of privacy, savings, credit, income, and reputations.
July 11th, 2019
Rather than fixing the problem, most businesses just charge honest customers more to cover their losses from fraud. But tools exist to put a stop to this madness. We should know. We built those tools. They allow you to focus on your product or service at a lower cost, and to cross off identity fraud from your list of costly concerns.
If you’re a business that onboards paying customers online, leaving them — and yourself — exposed qualifies as criminal negligence in our book. If you’re a customer and care about your money and privacy, you should demand that businesses get serious about protecting your identity online. If they don’t, walk.
Here are six reasons to choose Veriff over its competition.
1. High pass rate. With us, honest people can be trusted online. Not everyone is a fraudster and good new customers shouldn’t get tangled up in the filters, leading to drop-offs. With Veriff, they get real-time feedback and guidance to move them along, whatever their computer or mobile platform. And we use lightweight background video to detect behavioral oddities, such as verification under duress. As a result, we can deliver over 90 percent pass rate.
2. Fraud protection. Most identity-verification platforms take the lazy way out. They focus on regulatory compliance as if it’s 2008. But KYC compliance does not prevent identity fraud. Nor does simply verifying document validity and matching it to personal data that the customer provides. Fraudsters can easily steal or purchase their victims’ personal details. Which is why Veriff uses multi-layer protection to detect and block sophisticated fraud attempts.
3. Multi-layer protection: behavioral, technological, and document cross-checks. Our competitors treat each verification session as if it’s the first one. As a result, fraud is detected only after damage has been done. To detect anomalies early, Veriff cross-links different sessions based on countless data points. These cross-checks combine non-disruptive live video and face recognition with device, browser, network, and document data. Like a combination drug, this approach is incredibly effective.
4. Instant high-volume analysis with AI. Veriff uses machine learning to automatically analyze thousands of technological and behavioral variables. It helps us verify people from 200+ countries and territories in seconds. Without AI-based automation, instant global verification -- and quick, smooth journey for your customer -- would be impossible. We’d need hundreds of thousands of people to do manual checks across thousands of variables with each verification. That would keep honest customers waiting a long, long time.
5. Configurable decision profiles. What’s right for one industry may burden another. Veriff is adaptable. Businesses from fintech to dating platforms can raise or lower the trust bar according to the risk they deem acceptable. Veriff started with traditional banks, establishing strong data security and regulatory compliance. This enabled us to extend our services to marketplaces and more.
6. Future-proof defense. Today, Veriff employs artificial intelligence to fight mostly-human fraudsters worldwide. As identities are the next battleground between freedom and fraud, the enemy is preparing dark AI to counter us. With fresh advances in AI-led artificial portrait-generation, animated deepfaces, criminals are purring. You’ll want a trustworthy partner for identity protection. With Veriff, you’ll benefit from years of AI research, millions of verified identities, and a digital graveyard of neutralized fraudsters.
Bonus reason: En route to universal identities. We verify identities so businesses get customers they can trust. Behind the scenes, Veriff is preparing to deliver a fraudproof identity for every connected human. A world first, several billion times over. For the first time in history, your identity will be immune to loss, theft, or forgery.
If you’d like to see frictionless global lives, join our cause. Become a Veriff customer today.