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Mobile Phone Data Verification for Banks & Financial Services

Customer authentication using a customer's mobile phone number, anywhere in the world.

As Banks and other Financial Services companies offer more products on mobile devices it has become increasingly important for them to ensure that someone is who they say they are, reducing the persistent risks of financial crime via a mobile phone.

Banks and Financial Institutions are under pressure to be seen to reduce account take over fraud, as well as comply with all relevant regulations like Anti Money Laundering (AML) checks and PSD2 that mandate the use of Know Your Customer (KYC) procedures.

Phone number verification can play and important role in this process, using global mobile phone data to confirm essential information about your customer. This includes their location and active mobile phone network – with results and confirmation returned in less than a second.

 

Customer ID Verification for Banks

Verify, our suite of real time Mobile Intelligence solutions provides low friction, easy to adopt Customer Verification for banks and other financial service companies globally. Our comprehensive and easy to integrate API’s, including live feeds from our Network Operator partners, links a person to a mobile helping our clients validate and authenticate their end users. Protecting their businesses and reducing both fraud and fake accounts through a strong customer authentication process.

Our mobile phone number intelligence products can be used as part of your onboarding process to authenticate customer details, checking they are correct and accurate, along with proactively monitoring customer activities and account behaviour to protect against fraud and malicious activity.

Through active number checking you can cross reference key data points to check whether your customer has changed mobile device or the connected network, prompting further analysis as part of your AML strategy and verification process for existing customers.

 

Reducing Financial Crime Risks

Customer verification for financial services is an essential part in your protection from fraudulent activity online, resulting in lost revenues and customers. Online fraud and criminal activity costs the UK over £190 million per year, ranging from mortgage fraud through to terrorism financing activities.

Therefore it’s more important than ever to ensure that you’re compliant with all relevant compliance checks when a customer is opening account or applying for a financial product. Mobile phone verification can help you streamline this process without adding friction to your customer onboarding.

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Our team has many years’ experience working across telecommunications, media and technology.