Authenticate Plus by Experian is an intelligent identity checking solution which provides multiple ways to electronically verify your customers and provides a clear decision for staff to act on; based on the parameters you set. Available in conjunction with or as a follow-on transaction with your CoreLogic Teletrack request, Authenticate Plus provides authentication service in real-time, with no need for paper-based proofs.
Authenticate Plus provides an index to indicate the degree of confidence that an individual's identity and address are correct. Access 10 High Risk Policy Rules, such as no address, applicant found Mortality File or significant application inconsistencies. Together, these services help you:
- Provide more efficient customer service with approvals in seconds
- Increase staff efficiencies by managing authentication electronically
- Improve compliance with the Financial Services Authority, anti-money laundering (AML) controls including ‘know your customer’ (KYC) regulations
- Remove the subjective nature of the document review
- Highlight developed identities and other high risk conditions
How it Works
Starting with the postcode and premise name/number, Experian accesses names data from the Electoral Register. A full address along with the name of the person(s) living is returned. This information is used as a starting point for the identity check. Once the name and address have been verified, the applicant’s biographical details are validated against the Experian databases to prove that the identity exists.
Once the information is validated, the data is examined to establish if the customer is the ‘owner’ of the valid identify references. A number of ‘high risk’ data sources and factors are used to supplement the verification processing, including:
- Applicant found on the Mortality File
- Developed Identity triggers
- Sanctions file match
- Significant application inconsistencies
- Applicant under age
All the appropriate data is used to generate a confidence measure for the applicant identity. This is referred to as the Authentication Index. The Authentication Index returns an index between 00-90, where 90 indicates the highest level of confidence and 00 indicates no authentication. The authentication thresholds are set by your business, depending on your threshold for risk.
Learn how to access Authenticate Plus using your existing CoreLogic Teletrack service, attend our next webinar 18 May at 3PM.
