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ValidateID™
Validates an Applicant’s Real
Identity
Prior to Issuing Authentication Credentials
The Problem
It has been documented that approximately 80% of all online
account fraud stems from hackers using stolen information and
registering online for loans or new credit card accounts. In 2003,
the Federal trade Commission (FTC) received more than a half million
fraud and identity theft complaints and projects that number to
rise significantly over the coming years.
The Solution
ValidateID™ is a secure self-service enrollment feature that minimizes the threat by establishing the true identity of an end user prior to the issuing of an on-line authentication credential.
How it Works
ValidateID™ accesses aggregated public information, presenting a series of “out
of wallet” questions that go far beyond what hackers would be able to answer should they have access to a person's credit cards,
driver's license or social security number. There are several question
sets from which the randomly generated questions are presented. Because
of the highly personal and historical nature of the questions,
only the end user can have the correct answers.
Once an applicant has successfully answered the questions, he will be issued his on-line account credentials.
The ValidateID™ front-end process eliminates the risk of identity theft by stopping individuals from fraudulently applying for and being issued authentication credentials.
Business
Applications
ValidateID™ is ideal for companies that have large user populations and need to be confident that they are issuing an authentication credential to the real end-user. ValidateID™ offers a far more secure alternative to simply emailing passwords or other authentication credentials to end users. It is also more cost effective than physically verifying the identity of large user populations that require access.
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A unique question-based
screening process to determine the identity of
an individual opening a new account in a remote
setting
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Designed to prevent
fraud before it starts by stopping individuals
from fraudulently opening new accounts |
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Well suited for call
centers and web sites to integrate and use |
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Works as a seamless
step in any business’ checkout process |
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Adapts to different
business rules and is configurable to meet individual
company ’s specific needs. |
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