Chapter 19: Identity/Fraud (EFX Digital Solutions)
IN THIS LESSON
What is it?
Identity Proofing makes multiple identity and fraud solutions accessible via a single, streamlined API connection. With Identity Proofing, lenders can create customized workflows to orchestrate verification checks and step-up methods at various points along the customer journey.
The solution set within Identity Proofing confirms identity authenticity by using multi-dimensional data sources including phone number, email, address, SSN, date of birth, and mobile device verification. Step-up authentication uses advanced biometrics alongside traditional checks to provide robust identity verification. This platform provides a clear, real-time trust assessment to help lenders onboard valid customers and defend against sophisticated fraud schemes.
Who is it for?
Perfect for sectors looking to protect profits, accurately classify write-offs, and remove massive hidden costs in backend collections/recovery efforts.
● Banking and Financial Services: Orchestrate robust risk evaluations for high-value operations like loan origination and new bank account creation.
● Mortgage, Lending, and Housing: Verify applicants across rental housing and lending markets to protect portfolios from risk.
● Automotive Dealerships: Validate buyer and seller identities in real-time to prevent fraud from test drive to title transfer.
● Employee Onboarding Frameworks: Integrate with screening systems to support corporate hiring processes like Form I-9 employment verification.
● High-End Retail: Secure online sales for luxury assets where definitive verification handles high-exposure transaction risks.
● Telecommunications and Utilities: Match identity checks against application velocity signals to protect customer data and satisfy regulatory requirements.
● Health and Human Services: Support identity verification within institutional and public-sector portal onboarding workflows.
● Higher Education: Conduct identity checks for thin-file applicants who lack extensive credit or historical data footprints.
