Protect your Financial Institution with ID Dataweb's advanced identity verification and authentication solutions
Financial Institutions must balance fraud prevention with seamless, compliant onboarding and account access. ID Dataweb's advanced identity verification solutions protect your platform and customer data, while ensuring security without sacrificing conversion or regulatory compliance.
Prevent fraud and improve conversion with dynamic identity verification and authentication
With ID Dataweb's robust, dynamic identity proofing and fraud prevention tools, financial services companies can:
Onboard more customers without compromising compliance
Verify identities in seconds with dynamic flows, reducing drop-off and achieving 95%+ completion rates while ensuring KYC (CIP and non-CIP), AML, and data privacy compliance.
Fortify existing identity flows
Eliminate vulnerabilities in your identity verification and account access processes across voice and digital channels, ensuring only legitimate users can access your platform and reducing the risk of fraud.
Close gaps in your identity program
Create verification and authentication flows for identity touchpoints other solutions aren’t able to solve for via with the most unique identity and risk datasets, coupled unbelievably dynamic workflow templates.
Overcome common financial services challenges with ID Dataweb's identity verification solutions
Reduce account opening and takeover fraud
ID Dataweb strengthens identity verification by closing security gaps in account access, preventing fraudsters from creating fake accounts or gaining unauthorized access. Protect your platform, minimize financial losses, and ensure regulatory compliance.
Maximize conversion without sacrificing security
Solve both pass rate and security concerns with step-up verification flows, not with policy gaps. Implement adaptive identity and risk flows for each touchpoint to achieve 95%+ completion rates and 97%+ approval rates.
Reducing Manual Reviews and Operational Costs
Automating the verification process minimizes the need for manual reviews of suspicious activity. This reduces operational costs and allows your team to focus on delivering an exceptional customer experience while blocking fraudulent activities.
ID Dataweb in action
Real-world financial services use cases
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Fraud Prevention at Account Creation
Prevent fraud from the start by ensuring legitimate customers are creating accounts, or fortify your existing account creation flow by verifying phone association at MFA enrollment. ID Dataweb’s solution blocks fake or unauthorized accounts at inception, protecting your platform from financial and reputational risks. -
Streamline KYC and AML compliance effortlessly
ID Dataweb’s dynamic step-up approach applies higher-friction verification only when needed, minimizing friction for legitimate customers while ensuring full regulatory compliance. -
Automate just-in-time step-ups ahead of sensitive actions
Streamline low-risk actions with low-friction authentication, then trigger higher trust authentication challenges to unlock capabilities such as password resets, transactions, ownership changes. -
Solve for multiple account holders, beneficiaries, and delegates
Multiple users on the same insurance policy presents a challenge for less sophisticated identity verification procedures. With ID Dataweb, you can easily and accurately verify the identities of all beneficiaries on an account.
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Holistic authentication between customer support and online channels
Authenticate customers securely across digital, phone, and live support channels for consistent service, reduction in manual review resources, and elimination of social engineering risk in the human interactions. -
Replace fraud-prone OTPs without added friction
ID Dataweb layers device posession checks with passive device and behavior signals to detect suspicious activity, escalating risky sessions to stronger verification methods and reducing vulnerabilities like spoofed or changed MFA numbers. -
Streamline directory risk screenings
Regularly screen your databases against AML and OFAC watchlists and known risk signals to ensure compliance and minimize risk. -
Workforce onboarding and IAM enrollment
Streamline identity verification for staff onboarding, ensuring only verified individuals access sensitive data.
The ID Dataweb solution for financial services
Streamlined solution
One solution to enhance workflows, fill security gaps, and bolster existing protocols across financial service systems. Automate customer service processes and minimize manual reviews to streamline operations.
Adaptive verification
Introduce friction only when necessary, ensuring a smooth onboarding process for legitimate customers while blocking fraudulent attempts.
Privacy
User’s PII is never retained by ID Dataweb or any of our partners. From data handling to data retention, ID Dataweb employs an unwavering commitment to privacy.
Compliance
Achieve full compliance with all regulatory requirements, including KYC, AML, and data privacy laws such as DSAR, to prevent financial crime and maintain compliance.
Secure your financial services platform today
Discover how ID Dataweb’s identity and location verification solutions can protect your financial services platform from fraud and enhance customer satisfaction.
