New capabilities empower businesses to rapidly respond to COVID-related behavioral shifts and quickly act on fraud data intelligence with precision
IDology, a GBG company, announced the latest innovation to its multi-layered identity verification platform, ExpectID. As COVID-19 continues to bring complexity to the fraud landscape, IDology is giving businesses the power to respond with new levels of data visibility, control and customization throughout the identity verification process.
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With ExpectID’s Decision Builder, IDology customers can now build a nearly infinite number of industry and company-specific identity attribute scenarios and, with agility, make real-time, point-and-click adjustments that separate legitimate customers from fraud. The enhancements provide an unprecedented level of granularity and data control, as well as insight by delivering closed-loop identity verification data feedback for analytics, fine-tuning attributes and understanding customer behavior. As a result, businesses can respond to rapidly changing fraud vectors and quickly greenlight legitimate customers for a seamless verification experience and stronger relationships that drive revenue and lead to long-term growth.
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“Every business should have the ability to define identity verification attributes that will filter out fraud based on their unique business needs and customer considerations,” said Christina Luttrell, COO of IDology. “Successfully onboarding new customers and building long-term loyalty in today’s rapidly shifting fraud landscape require businesses to act quickly. On the back end, they must also understand how identity verification attributes are performing so they can make adjustments to attributes that pinpoint fraud on an extremely granular scale while streamlining the verification process for real customers.”
According to Julie Conroy, research director at Aite Group, “Businesses are facing increased pressure to approve more legitimate customers without friction or unnecessary escalation, detect and deter fraud amid a quickly changing landscape and make smarter, more competitive business decisions based on customer intelligence data. COVID-19 has disrupted behavior and caused data trend upheaval, complicating legacy interpretations. Data visibility and curating identity verification systems based on the fluid business environment are essential to reduce false positives, minimize friction and adjust to evolving fraud schemes.”
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