Verify Identity

Verify Identity

Expand your customer base with confidence

Verify Identity helps prevent fraud loss by detecting false and synthetic identities before they make it into your financial institution’s systems.

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Understanding risk where it occurs

Verify Identity provides a reliable assessment of an applicant’s true identity. It offers a risk score and attributes, a synthetics indicator pointing to information warranting further cross-check and a name, DOB, and SSN match in real-time, so you can feel confident opening your doors to more good customers.

In 2022 there were more than 34 million identity verification transactions issued by Early Warning®.

All the identity verification capabilities you need, in a single solution

Enhanced Verify Identity tools:

IDENTITY CONFIDENCE SCORE

Assesses the likelihood that the applicant is presenting their true identity crednetials

✓ Data provided:
Predictive, analytical score (lower score = higher risk)

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SYNTHETICS INDICATOR

Detects synthetic or manipulated identities. 

✓ Data provided:
Flags potential issues with specific pieces of personally identifiable information

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IDENTITY ATTRIBUTES

Adds context to scores and indicators, enabling more informed identity risk assessments. 
 

✓ Data provided:
Summarized attributes for each identity element associated with the inquiry

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VERIFY SSN1

Confirms whether the applicant’s name, Social Security number and date of birth combination matches a legitimate Social Security Administration (SSA) record. Checks if the name, DOB , and SSN combo correlates to someone who is deceased or not.

✓ Data provided:
"Yes" or "No" match response

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1Verify SSN does not verify identities, eliminate synthetic identity fraud or reduce fraud. Verify SSN is only available to financial services organizations.

Screen identities with confidence

Synthetic identity fraud is now the fastest-growing financial crime in the United States due to blind spots with traditional fraud risk models2.

2. Market trends in Fraud for 2022 and Beyond: New Fraudsters, New Era Aite-Novarica, Feb. 2022

Verify Identity  use cases

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NEW ACCOUNT OPENING FOR CONSUMERS

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NEW ACCOUNT OPENING FOR INDIVIDUALS ASSOCIATED WITH A BUSINESS ACCOUNT

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NEW ACCOUNT OPENING FOR LENDING PRODUCTS

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SYNTHETIC IDENTITY SCREENING

What it solves

Verify Identity allows you to expand your customer base with confidence. It lets you determine, in real-time, the likelihood that an applicant is who they claim to be. So, you can protect against identity fraud while moving legitimate applicants swiftly through your decisioning process.

Discover More

Let’s talk about how you can confidently verify consumer identities. 

3 Key Ingredients for Your Payment Fraud Detection Strategy

How to Prevent ACH Fraud: Four Best Practices for Financial Institutions

Closing in on Fraud: How to protect your financial transactions and validate bank accounts in real-time

The Early Warning® Advantage

Leverage 30 years of experience to enhance your new accounting opening strategy.

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Robust data

Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource which contains a rich set of data, ensuring our information is always up-to-date.

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Scalable technology

Grow at your own pace! Access our capability bundles through a simple API. Implement once – and quickly deploy additional capabilities in a snap.

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Rich analytics

Our risk assessment algorithms incorporate comprehensive, cross-institution data sets, adding depth and perspective to insights.

DATA CONTRIBUTED BY MORE THAN 2,500 FIS INCLUDING BANKS LIKE:

Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource – which contains a rich set of deposit performance data contributed by more than 2,500 financial institutions including banks like:

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Let's talk about how we can grow your financial institution

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