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Authenticate Pro

The importance of personal identity

Proving an individual's identity is a challenge for both the public and private sector. Organisations need to be confident that an individual is who they say they are, to mitigate the risk of fraud, money laundering and other financial crime. They also need to ensure that their authentication methods aren't a barrier to customer acquisition or the delivery of public services. Read the latest report on ID verification from Experian

Why paper doesn't work
Until recently, documentary evidence such as passports, driving licences or utility bills, was the only way to confirm identity. This is problematic as the process is usually lengthy and paper documents are:

  • easily forged or bought
  • inconvenient, sometimes requiring posting or bringing into the branch/division
  • difficult for staff to analyse
  • sometimes lost or stolen as part of the process

Electronic Authentication
Experian's Authentication Solutions use an electronic, risk-based approach to validate and verify customers. An individual's biographical data is compared against the 1 billion records that Experian holds to verify consumers. It looks at the number of electronic records the individual can be matched against, how far back in time they go and the processes that were in place when the records were created.

An authentication decision is then given in seconds, with no need for paper-based proofs.

Benefits

Authentication solutions to change the way you do business

Customer acquisition

  • Identify customers in seconds with no requirement for ID documents
  • Reduce waiting times and increase customer sign up rates
  • Provide a more efficient customer service
  • Reduce customer 'drop-offs' during website applications
  • Increase customer acquisition capacity whether via web, call centre or branches

Business processes

  • No need for space and budget to copy and store paper-based documents
  • Improve staff efficiencies as authentication is managed electronically
  • Reduce registered mail costs by not having to return documents
  • Significantly reduce cost per transaction
  • Shorten the processing time for each ID check

Compliance

  • Full compliance with the Financial Services Authority's anti-money laundering (AML) controls, 'know your customers' (KYC) regulations and the Joint Money Laundering Steering Group (JMLSG) guidance
  • Available with different templates to suit multiple risk requirements
  • Create an electronic audit trail
  • Mitigate the risk of incurring fines from bodies such as the FSA

Fraud

  • Identify developed identities, impersonation or other high risk conditions
  • Reduce card-not-present fraud
  • Highlight potential delivery fraud
  • Remove the subjective nature of the documentary check

Sectors

Who benefits from electronic authentication?

  • Financial services providers, including major mortgage lenders, credit card providers and automotive finanace providers
  • Solicitors, estate agents, accountants
  • Money services businesses (i.e. foreign exchange dealers)
  • High value dealers (i.e. jewellers, auction houses)
  • Retailers
  • Mail order companies
  • Public sector organisations (i.e. revenue andd benefits)
  • Telecommunications providers
  • Utility companies

Research

To download the latest white paper please click here and fill out the form:

Case studies

Westminster City Council
Each year, Westminster City Council issues approximately 37,000 resident parking permits. In order to purchase or renew a permit residents previously had to visit the council with up to seven different pieces of identification to prove their identity and entitlement. Read how Experian's authentication solutions enabled a wider choice of channels and removed the need to present documentary proofs in person or by post.
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National Australia Group
"With Experian’s anti-money laundering solution, we are complying with FSA rules and protecting our business and our customers from the effects of money laundering. At the same time we are ensuring that our customer experience during the account-opening process is a positive one."
 
ING Direct
"With over 850,000 savings customers, Experian's anti-money laundering systems enable us to open accounts instantly, in a non-intrusive manner and have played an important part in our customer satisfaction results."
 

Request more information

For more information, call us free-of-charge on 0800 197 7920, complete our online form or e-mail us.

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