UK mobile phone carriers will now be used as an important source of data for the cross-channel authentication solution launched by RSA Security. The identity verification platform will use data tapped from sources to detect and prevent fraud in call centres, on the web or at point of sale in a much more accurate way. It will also help financial institutions to identify authentic customers during new account enrolments or high risk transactions.
A research study recently found that UK identity fraud increased by more than 30% last year, costing the economy over £1.2bn.
Other sources, like credit reference agencies and the electoral roll, will also be used along with the mobile phone carriers for this purpose. An intelligent questionnaire will be formulated by the platform using dynamic real time questions to extract data from these sources.
RSA's Head of ID Verification Services, Bryan Knauss said, “We think the RSA Identity Verification Platform is very relevant here. It's a mechanism that uses knowledge-based verification to verify that an individual is who they say they are. The multiple choice questions are easy for the consumer, but hard for the criminal to guess."
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