07/11/2005

QAS, an Experian® company, has launched Authenticate Pro, which enables organisations to electronically authenticate individuals, minimising the risk of potential fraud. Authenticate Pro checks the identity of customers against multiple independent data sources in just seconds to assess the level of risk. This enables organisations to make qualified decisions when approving applications for products and services such as loans, credit cards and contracts.

When it comes to authenticating an individual's identity, organisations need to ensure that the authentication process remains a simple, yet secure transaction for both the customer and the business. If the authentication process is too simple, companies run the risk of potential fraud. But make the security process too complicated and lengthy, and customers may be deterred from interacting further with the organisation. This point is illustrated in recent research conducted by QAS, which found that 70 per cent of people claim that they would be more likely to complete an application if the entire application and approval process took just seconds.

Authenticate Pro carries out identity authentication at a fraction of the cost to businesses in terms of money and time, compared to existing paper-based processes. The Financial Services Authority (FSA) has also stated that "electronic data can be used as an alternative to documentary evidence." Such is the power of electronic authentication is that it enables a decision to be made in seconds, facilitating more application approvals and dramatically improving the customer experience. At the same time, Authenticate Pro can help identify potential fraudsters at the point of customer acquisition and decrease the dependency on paper documents that can be easily forged.

Part of the IDentifier suite of products, Authenticate Pro is an 'off-the-shelf' product that can be implemented in just two days. It provides companies with an 'Authentication Index' score from which they can make a decision on whether to proceed with an application, based on their own criteria and requirements of business risk. For example, a low Authentication Index score shows that the identity data supplied has not been authenticated and, therefore, further proofs of identity should be sought. A high Authentication Index score indicates that the highest level of authentication has been found for the identity supplied.

Authenticate Pro uses information given by customers and compares it with multiple independent data sources such as the electoral register, the National Postal Address File and CIFAS, the UK's Fraud Prevention Service, to establish an individual's identity. It offers a risk-based approach and is supplied with pre-configured templates, aligned to different levels of authentication requirements.

Harry Meikle, Group Managing Director of QAS, commented: "Authenticate Pro further enhances our data integrity proposition, ensuring we are able to help organisations drastically reduce the risk of fraud whilst continually improving the quality of their data.

"There is increasing pressure on organisations today to ensure that their processes are compliant with industry standards, yet they need to balance this with growing the business through customer acquisition. Authenticate Pro takes just seconds to authenticate an individual, leading to a better customer experience, yet enables companies to quickly and effectively assess the level of confidence in the identity of their customers."