Consumers are going online to conduct business more than ever before. And when it comes to opening credit card accounts, checking/savings accounts and retirement accounts, consumers increasingly prefer digital channels to get the job done, giving them the instant gratification they have become accustomed to in our increasingly connected world.
A frictionless customer experience is key to customer loyalty and satisfaction for brands across every vertical. Unfortunately, sophisticated fraudsters are always on the lookout for a new weak spot to help them steal from consumers and businesses alike. While widespread web adoption drives down acquisition costs, it’s also largely an anonymous interaction, creating a critical vulnerability for fraud.
How Do You Quickly Sort Legitimate from Fraudulent Without Friction?
Rigorous identification standards often mean cost and undue consumer friction, but the last thing you want to do is expose your business or customer to account origination fraud. How can you give legitimate consumers the straightforward digital experience they crave while minimizing your organization’s risk exposure?
Neustar Digital Identity Risk
Neustar quickly flags devices at high risk for fraud, separating legitimate applicants from fraudsters. Using a host of device elements, including IP, browsing, and phone activity, Neustar corroborates the device against authoritative offline consumer data and provides your decisioning engine with a customized risk score that indicates the trustworthiness of the device identity.
What about a device unlikely to be associated with the consumer’s address or email? We’ll let you know this is a device at a higher risk for fraud. Is the IP or browser behavior atypical for that consumer? We’ll flag the higher risk applications so you can spend more time on verification and let the legitimate customers through.