You could be struggling with limited access to adequate data and crying out for a robust verification system that checks numerous data points, including bank account information. You may currently have lengthy fraud preventative measures and can see the real benefit of moving to real time fraud verification.
What are the key impacts and issues?
As a busy professional, you’ll be considering the impacts of financial penalties, operational expenses, compensation pay-outs, wasted resources and poor publicity that could affect future business growth. Some of the things you’ll have at front of mind include:
- The verification process to cross-reference data such as contact details, address, date of birth and phone number
- Confidence that potential new customers are over 18
- The ability to prove that you comply with BACS requirements when setting up payment mandates
- Being compliant with UK legislation and gaming commission requirements.
How can we help?
Our Consumer Onboarding solution can help you. When a new customer signs up with you, we carry out seamless checks to make sure they’re genuine. Our database is the largest and most comprehensive source of consumer and business information in the UK. We improve data capture by validating it at point of entry and prompting the customer to check any incorrect information. Our technology:
- Supports you to adhere to regulatory requirements such as the BACS Direct Debit Scheme Rules
- Keeps payment errors to a minimum, helping to reduce wasted resources and complaints
- Has comprehensive reference data
- Provides customisable risk profile scoring
- Checks that the bank account number and sort code are correct and linked to the customer.
What’s more, recent research from Gartner named Experian as one of only three partners to provide all the capabilities in all six of their identity proofing and corroboration use cases.
If you’re ready to find out more about improving your customer onboarding, fill in the form on this webpage and we’ll be in touch.