Building A Concrete Authentication Plan

The best way to build a secure fraud prevention plan is to use layered, multiple verification and authentication methods. This can be done through several different solutions, like IdentiFlo Management Platform and our IdentiFraud solutions. EVS has multiple tools, pulling from complex and varied databases, that combined can give you a level of fraud protection unmatched in the industry.

Drivers license verification is the perfect complement to your compliance and fraud prevention plan, but alone it only offers part of the protections you and your clients deserve. Verifying a license only guarantees the license is legitimate, but not the identity of the person behind the screen. Likewise, authenticating with KBA doesnt ensure the license is present. So how can you know your customer has a valid license and is whom they claim to be? Through these solutions, drivers license and social security verification are simple and quick to process. The use of dynamic KBA also allows you to set certain parameters within the authentication process.

How to Verify an Identity

By combining drivers license verification, consumer data-match profiling, KBA, and much more the identity verification and authentication process it made simpler and quicker than ever before. Use IdentiFraud to make sure the drivers license number and address match. Verifying the legitimacy of the license through the DMV is a good fraud prevention foundation. Once the drivers license is verified, the identity can be verified through other sources like credit bureaus, the Social Security Administration, and the postal service while scrubbing against OFAC and other fraud watch lists. Finally, authentication is checked with KBA questions to ensure your customer is your customer.

These three steps will give you the peace of mind that your new account, transaction or customer is legitimate. Whether your needs are to KYC, AML compliance, or simply a foolproof fraud prevention mechanism, EVS will help build your concrete authentication plan.

[Contributed by EVS Marketing]