Best Antifraud Solution—Mobile Solution
IDology is one of nine first-time CNP Award winners, nabbing the Judges Choice award in the Best Antifraud Solution—Mobile Solution category. Card Not Present welcomes the Atlanta-based company to the fraternity of CNP Award winners.
The company focuses on verifying the identity of individuals at the point of onboarding or account access. And accounts are accessed increasingly via mobile devices.
Research undertaken by IDology shows that 73 percent of Americans who signed up for a new account online since the restrictions associated with the Covid-19 pandemic began did so via mobile. This equates to 98 million mobile accounts. As consumers use mobile devices at greater scale to conduct business and interactions, fraudsters are capitalizing.
Mobile fraud activity is widespread and the company points out that it occurs via many proven paths including porting, device cloning, recycling of phone numbers and ANI spoofing, all of which are on the rise.
With customers expecting both convenience and security, verifying that a customer on a mobile device is who they claim to be, without adding unnecessary friction that could lead them to abandon the account opening, login or purchase, presents a significant obstacle for merchants and others in the merchant payments ecosystem to overcome.
Using ExpectID Mobile Attributes, IDology customers can build a nearly infinite number of industry and company-specific identity attribute scenarios and, with agility, make real-time, point-and-click adjustments that separate legitimate customers from fraud. The solution, the company says, enables merchants respond to rapidly changing fraud vectors and quickly greenlight legitimate customers for a seamless verification experience and stronger relationships that drive revenue and lead to long-term growth.