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OneSpan Identity Verification

OneSpan

Consumer Banking
Identity Verification
Acquire more customers, reduce abandonment and mitigate fraud with a wide range of digital identity verification service
Consumer Banking
Identity Verification
Acquire more customers, reduce abandonment and mitigate fraud with a wide range of digital identity verification service

Description

Every business’s Identity Verification needs are unique. Our Trusted Identity Platform (TID) provides the flexibility to deploy business solutions when and how you need them, in harmony with your existing security technology. From the TID platform, integrate and coordinate identity verification, authentication, mobile security, fraud prevention, and other solutions, to work together or in a modular way. Key business benefits of OneSpan Identity Verification:

 

Acquire more customers

Enable online channel growth by onboarding more customers with online identity verification. Today’s consumer demands a fully digital experience – available online and on mobile. The ability to verify a user’s identity online without the need for in-person identity verification speeds up customer acquisition, reduces customer abandonment, and drives growth.

 

Digitize Account Openings

Financial institutions need to offer fully digital account opening processes to meet customer expectations, achieve digital channel growth, and remain competitive.​ The ability to verify a customer’s identity digitally while mitigating fraud risks, such as identity theft and account takeover is fundamental to achieving this goal.​

 

Access Multiple Verification Methods

Select the best digital identity verification method to balance user experience & risk:

  • Reduced Friction: Select the best check types for your demographic to optimize adoption rates.

  • Global Coverage: Don’t settle for a single provider with limited coverage (View our coverage map here: https://www.onespan.com/products/identity-verification/coverage).

  • Auditable & Enforceable: Capture a single and complete audit trail tied to the entire transaction.

  • Single Company: Reap the benefits of a single API integration, SLA, and vendor.

 

Leverage AI & Biometric Verification

Verify the authenticity of ID documents in real-time and compare facial biometric data. Reduce friction with identity document verification and facial comparison. ID document verification and facial comparison enable a customer’s identity to be authenticated in real-time. ID verification uses artificial intelligence (AI), machine learning and authenticity algorithms to analyze an image of an ID document. This produces an authenticity score to determine if the driver’s license is fraudulent or genuine.

 

Liveliness detection

Capture a selfie and leverage advanced algorithms to determine whether a remote user is genuine. The ability to prove that a user is genuine and physically present during remote account opening is a critical component in the fight against application fraud.​ ​Facial comparison extracts biometric data from a selfie and compares that data against the applicant's authenticated ID document to validate whether they are who they claim to be.

 

Fight Identity Fraud

Detect fraudulent ID documents and prevent application fraud in real time. Given the scale and impact of fraud, it is vital that financial institutions detect application fraud during account opening. To stay ahead, financial institutions need identity verification and fraud detection solutions that use machine learning to determine the appropriate level of security to:

  • Protect the user

  • Protect the device and session

  • Ensure fraud prevention across all digital channels

  • Provide flexible and secure authentication journeys

 

General information

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Required products
Fusion Equation
Fusion Essence
Website
Data processing countries
United States of America