Gaining Visibility into Identity Verification Blind Spots
Featuring Javelin’s Al Pascual and GIACT’s David Barnhardt
As the methods of fraud become more sophisticated, the traditional tools and techniques used to verify identity have become less effective over time. Synthetic Identities have quickly emerged as an acute blind spot that resulting in unnecessarily high rates of application fraud and charge-offs. In order to successfully discern between fraudsters and legitimate customers, financial institutions must be able to bring a wide range of capabilities to bear as part of their identity proofing workflows.
To correct this dynamic, changes must be made that take into account where traditional solutions for verifying identity are losing fidelity and the opportunities that exist to leverage a wider array of data than has been considered in the past.