When new accounts are opened or identities are created, banks, insurers, and other high-value businesses must be sure the user is genuine. With Callsign, they can achieve this, and keep verification processes online.
While identification and authentication are needed on a regular, ongoing basis (each time someone tries to log in or make a transaction), verification is all about making sure someone is who they say they are when they first open a bank account or create a digital account. Many businesses, like banks and insurance companies, are obliged to verify identity at this point for regulatory reasons. Meeting KYC process standards, for example.
The role of verification in identification
Callsign’s Verification Engine helps businesses meet these standards seamlessly – and without taking the process offline. Using both company and third-party data, our technology verifies that the person creating an account or identity is who they say they are. What’s more, this information can be saved to speed up verification processes in the future, for example when a user changes their phone.
By using third-party verification data points in this way, alongside other data sources such as location and sim swap detection, we’re empowering organizations to make the shift towards more seamless identification – even when it comes to traditionally cumbersome regulations like KYC. Helping them to minimize friction on the end user and keep customers engaged. All while ensuring maximum data privacy and security.
eID&V (Electronic Identity and Verification)
Callsign Verification uses a range of internal and external data sources to verify that someone is who they say they are. This is all part of managing the end-to-end user’s digital experience through the entire duration of an identification process, minimizing friction and making sure the process doesn’t need to be taken offline.
The Callsign solution offers a range of eID&V services. This includes cross-referencing against documentation (passports, driving licences), data (addresses, credit data, utility data) and other databases (telecoms, police, electoral, government). It’s particularly helpful for organizations in banking and insurance, not only in terms of KYC compliance, but in moving away from the offline checks traditionally associated with them. Making it cheaper and more convenient to set up new digital accounts safely – and reducing the need for customers to complete the process in-branch.
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