Johannesburg, 14 May 2018 – With fraud prevention and customer experience becoming increasingly important to South African businesses functioning in the digital world, Experian has been cited as the ‘most often used vendor for identity verification’ in a survey of network security decision-makers published in a Forrester report.
In the May 2018 ‘Top trends shaping identify verification (IDV) in 2018’ Forrester report, it states that a reliable, accurate, cost-effective and easy-to-use IDV is a core building block of any identity system. The report also discusses the importance of easy-to-use identity verification tools.
“With multiple online identities becoming the norm and the lack of face-to-face interaction online, the ability to recognise legitimate customers is even more important,” says Mark Wells, Chief Customer Officer at Experian South Africa.
He adds: “Fortunately, Experian has the data and technology to help businesses better identify their customers, make more informed fraud decisions and balance the customer experience.”
The Forrester report also reveals the top trends shaping identity verification in 2018. Two of the trends mentioned in the report include poor identity verification, which continues to have serious consequences beyond transactions, while behavioural biometrics shows its strength with identity verification.
Both trends are supported by findings from Experian’s Global Fraud and Identity Report, which was released in early 2018. The research shows businesses need to better identify their customers to combat online fraud. According to the report, 84% of businesses say the need for fraud risk mitigation could be reduced if they were certain about customers’ identity. Furthermore, 75% of businesses expressed interest in more advanced security measures and authentication that have no impact on the digital customer experience.
Experian offers identity verification capabilities specifically designed to deliver comprehensive online fraud management that can be deployed quickly so companies can better identify the fraudsters and stop fraud attacks before they happen. All of fraud and identity services are available through the Experian CrossCore platform, the industry's first open platform for fraud and identity services.
Prepared by Meropa Communications on behalf of Experian SA
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