Vendor Landscape: Identity Verification Solutions

Because customers are spending more and more time online and engaging with you using digital channels, it's becoming much easier for criminals to commit fraud and identity theft. As your firm seeks to increase its customer acquisition rates, you need an identity verification (ID) solution that provides the same level of accuracy as in-person methods but at the scale your digital business needs today — and without detracting from customer experience. Today's ID verification solutions, which include initial ID proofing and knowledge-based authentication (KBA), allow security and risk (S&R) pros to vet and proof their customers — before unscrupulous ones sign up fraudulently for products with a stolen or synthetic identity or attempt to conduct high-risk transactions. This vendor landscape examines critical selection criteria for these solutions and four of the vendors in this space.