As more sophisticated fraud attacks are on the rise, financial institutions and other organizations are tightening identity verification protocols, including KYC/CIP, fraud prevention, and sanction screening. Fraudsters are becoming craftier, so identity proofing companies are introducing additional measures to combat deep fakes and synthetic fraud while performing a balancing act to ensure speed and accuracy.
Socure works with customers to assess their risk tolerance for every use case across their product lines and then recommends document verification (DocV) when needed, as a step-up method or otherwise. With the addition of DocV, there exists less of a need for companies to leverage multiple vendors for KYC/CIP and fraud decisioning workflows, which drive up costs and reduce efficiency and accuracy.
In this webinar presentation, we discuss:
- Best practices for document verification as a top of funnel or as a step-up solution
- How to mitigate fraud without sacrificing customer experience
- Document verification as part of a holistic approach to identity verification