Account Opening Instant ID
Brands across all industries realize that providing a frictionless consumer experience is key. This is especially true on digital and mobile, as consumers increasingly use these channels and devices to open credit card accounts, checking/savings accounts, retirement accounts and more. But with account fraud on the rise and the proliferation of large-scale data breaches making the Personally Identifiable Information (PII) of millions of consumers accessible to fraudsters on the dark web, it is increasingly difficult to ensure seamless experiences without rigorous identification burdens.
The solution to balancing customer expectations with fraud and data-breach concerns lies in Neustar's cutting edge consumer identity verification and customer authentication service: Account Opening Instant ID.
The Consumer Identity Verification and Customer Authentication Service Brands Trust
Account Opening Instant ID uses intensive machine learning and extensive consumer data for consumer identity verification and customer authentication in mere seconds, by having new account openers take a picture of a government-issued ID with their own device. This highly sophisticated consumer identity verification and authentication service then scans that information and instantly compares it against hundreds of data sources to deliver a frictionless consumer experience, while also combating counterfeit IDs and spoofed identities. Not only will consumers appreciate the solution's speed and simplicity, they'll feel safer engaging with brands via the device of their choice: smartphone, tablet, or laptop.
After the consumer takes a picture of the front and back of their government-issued ID (e.g., driver's license), Neustar prefills the application form with details from the license and verifies both the applicant's identity and phone device for potential fraud, such as number porting or SIM swap. This means that in 25 seconds or less, a consumer can be approved for a bank account, credit card, or other product/service via a smartphone.
Account Opening Instant ID is compliant with NIST Identity Guidelines and other regulatory requirements. Neustar's consumer identity verification and authentication service enables you to decrease customer friction, while providing a safer, more secure digital experience for your customers.
- Applicants scan their ID from the device and optionally provide a photo for facial recognition
- Patented machine learning algorithms detect if the ID is counterfeit, while the Mobile Carrier (MNO) is checked for the telephone number of the device
- Details from the license are used to prefill the application form to simplify form entry
- The applicant PII and MNO phone number is checked against the OneID system to verify and authenticate the identity and check the device for anomalous activity such as number porting or SIM swaps
- Account Opening Instant ID provides consumer identity verification and customer authentication in seconds, once the above details are validated