For businesses, customer verification is crucial for protecting against fraud and maintaining compliance with regulatory requirements, such as KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines. By verifying customer information, you can protect your business from financial and reputational risks.
But traditional verification methods can be time-consuming, expensive and not always accurate. That’s where mobile intelligence comes in. By using mobile number intelligence technology, you can quickly and easily verify the identity of your customers by checking the validity of their mobile numbers.
By validating that a phone number is active and in use, you can confirm that the person providing the number is the rightful owner of the phone number, and therefore is likely the same person who is claiming to be.
Additionally, mobile number intelligence can be used in combination with other forms of authentication, such as one-time passcodes sent via SMS. By requiring that a customer provide both their phone number and a one-time passcode, you can add an additional layer of security to the authentication process.
Furthermore, you can use mobile number intelligence to determine the risk level of a phone number, this will help you to decide if you should conduct a more robust authentication process or if the number is low-risk and you can conduct a less-intrusive authentication method.
Your customer’s phone number is one of the most reliable and long standing information points through which you can identify them. This information can also be accessed quickly and within your existing customer onboarding process, all in a matter of seconds.
Our customer verification API tools access a range of authoritative data sets from countries around the world, provided by trusted legislative sources such as government agencies or mobile network operators as part of their compliance.
When compared to more traditional verification methods, such as uploading ID cards, it is harder to carry out fraudulent activity when factoring mobile data intelligence into your customer verification process. Real time customer mobile phone verification can tell you:
Has the device or number been involved in fraudulent behaviour? e.g. sim swap, account takeovers
Does the number match the expected device?
Is the expected mobile network operator still assigned to the number?
Use our info below to speak to the team about which solution is right for your business.
Take a look at our latest white paper, Tackling Mobile Identity Fraud in Financial Services. Our our product experts are always on hand to answer any questions!