Identity verification is a problem that is currently plaguing the digital world. Until we find the correct methods that work for everyone, we will continue to lose clientele. Nobody wants to be called every time they log in, so we, as CEOS and business execs, need to offer viable alternatives that keep the customer happy.
Trust Swiftly is an innovative identity verification specialist who can offer up to 10 methods for clients to choose from. In doing so, the company provides a dynamic solution to a problem that plagues both end users and the firms that cater to them.
The Problem of Identity Fraud
Identity Fraud is a massive issue in the digital world. There are some scary statistics from recent years about the prevalence of identity theft. In 2020, New account fraud was increased on the previous year, with account takeovers up 79% and form jacking - retrieving credit card data from online forms - was up 117%.
Further, consumers lost a total of $56bn in identity theft cases in the USA last year. A CNBC report claimed more than 49 million consumers fell foul. Identity fraud is a problem that costs both businesses and the consumer.
Trust Swiftly is on a mission to ensure identities are secure and the POS is protected.
10 Identity Verification Solutions
The idea behind Trust Swiftly's identification verification service is to allow faster customer access while still blocking fraud. Customers can choose between SMS verification, using their voice as their ID, documentation, video ID checks, social account verification, using their bank accounts, and more. Customers can then self-identity to the matching parameters, saving your business the time and cost of doing the ID verification yourselves.
Larger companies have a real problem with identity fraud. Trust Swiftly aims its services at those more prominent firms. If you turn away 1% or more of your transactions due to suspected identity fraud, additional verification measures can help you avoid lost time. Similarly, if you spend longer than an hour reviewing customers, this service will save both time and money.
Your clients will be able to choose between the following forms of ID verification:
A phone call or text
Videos or photo ID
3DS2 card verification
Optimizing the User Experience
Once you are signed up with the Trust Swiftly software, your customers can choose how they want to be verified. This customizable verification is flexible for the client while being an accurate way to save identification time on your end.
Trust Swiftly's method of flexible verification offers a self-service approach to the customer experience, allowing for sleeker payments and less transactions declined or lost. Auto-verification for return customers is another perk, adding speed to your checkout process and providing better service overall.
Using Trust Swiftly, you can both optimize your UX and save costs in the process. Take some of the risks out of high-risk transactions and protect yourself, your customers, and your reputation with Trust Swiftly.