Empfohlen
Empfohlen
Weitere ähnliche Inhalte
Was ist angesagt?
Was ist angesagt? (16)
Andere mochten auch
Andere mochten auch (20)
Ăhnlich wie Callcredit's Fraud Summit 2016 - Identity verification stream
Ăhnlich wie Callcredit's Fraud Summit 2016 - Identity verification stream (20)
Mehr von Callcredit123
Mehr von Callcredit123 (6)
KĂźrzlich hochgeladen
KĂźrzlich hochgeladen (20)
Callcredit's Fraud Summit 2016 - Identity verification stream
- 1. PROTECTING CONSUMERS â IDENTITY VERIFICATION #FraudSummit10
- 2. WIFI LOGIN DETAILS: IET - GUEST @Callcredit #FraudSummit10
- 3. AGENDA PROTECTING CONSUMERS â IDENTITY VERIFICATION 16:00 OPENING REMARKS RICK BIGGS Managing Director â Software, Analytics & Fraud Callcredit Information Group 16:05 ANNE GREEN Managing Director Global Operations Paycasso 16:20 MEL CAMERON Senior Technical Sales Manager Callcredit Information Group 16:35 DR RACHEL OâCONNELL Founder and CEO TrustElevate.com 16:50 CLOSING REMARKS AND Q&A RICK BIGGS Managing Director â Software, Analytics & Fraud Callcredit Information Group 17:00 NETWORKING DRINKS, FOOD & ENTERTAINMENT 19:00 ENDS
- 4. Managing Director - Software, Analytics & Fraud Callcredit Information Group OPENING REMARKS RICK BIGGS
- 5. Managing Director, Global Operations Paycasso Ltd ANNE GREEN
- 7. 7 Private & Confidential Š PaycassoÂŽ 2016 Data Breaches â Volume
- 8. 8 Private & Confidential Š PaycassoŽ 2016 Anonymity of The Internet Growth in Online Fraud
- 9. 9 Private & Confidential Š PaycassoÂŽ 2016 The Millennials - Digital Enabled Rest of us - Digital Transition Consumer expectation high - Want it now - Speed - Have choice will go elsewhere - Want frictionless Journey - Improvement in my experience - Trust you will look after my data Consumer Driven â What am I prepared to do
- 10. 10 Private & Confidential Š PaycassoŽ 2016 Client Challenges ⢠Legacy Systems ⢠Heavy Regulation ⢠Transition from Price to Experience ⢠Silo data ⢠Inability to have single customer view ⢠Omni channel ⢠Competition ⢠No longer batch processing, have to allow re-entry into on-line accounts Fraud Risk Credit Risk Regulatory Requirements Customer Experience
- 11. 11 Private & Confidential Š PaycassoŽ 2016 Examples of typical industry cost of customer acquisition values, The amount of money each company spends on average on marketing and advertising to acquire one new customer ⢠Travel: Priceline.com $7 ⢠Telecom: Sprint PCS $315 ⢠Retail: Barnes and Noble.com $10 ⢠Financial: TD Waterhouse $175 Source: http://www.entrepreneur.com/article/225415 Cost of Acquisition
- 12. 12 Private & Confidential Š PaycassoŽ 2016 Fingerprint, Vein or Palm Will biometrics help or will they be enforced?
- 13. 13 Private & Confidential Š PaycassoÂŽ 2016 Being Deployed ďś Customer Authentication ďś Identify Repeat Fraud ďś With a combination of other biometrics Voice Biometrics
- 14. 14 Private & Confidential Š PaycassoŽ 2016 Pythagoras discovered the concept of musical harmony during his studies of proportion while listening to the different sounds given off when the blacksmiths' hammers struck their anvils. These studies of proportionality yield what we now call the "Golden Ratio", or Phi. The Geometry of Faces Paycasso's Face Recognition software is based on state-of-the-art Biometric algorithms.
- 15. 15 Private & Confidential Š PaycassoŽ 2016 Actress Amber Heard has the most beautiful face in the world, according to a 21st-century take on the ancient mathematical ratio that holds the key to perfection Facial Recognition - Biometric
- 16. 16 Private & Confidential Š PaycassoÂŽ 2016 Paycasso AML Solution â benefits Simplicity. Security. Clarity. Delivering complete customer identity assurance to support AML regulatory requirements Real time facial recognition matched with a Government Issued Photo ID Assurance that the customer presenting their Photo ID is the same person represented on that ID. Instantly extracts the personal information from the clients ID and pre-populates system with this verified data Validates that the Government Issued Photo ID client is presenting is genuine US Driving Licenses authenticated at source i.e. with applicable State DMV Validates IDs from over 200 countries representing in excess of 3500 ID documents Customer ease and 360° trust combined Mobile and online - simply, easily & securely
- 17. 17 Private & Confidential Š PaycassoÂŽ 2016 VeriSure⢠Global Customer Identity Assurance Overview VeriSure⢠seamlessly integrates within mobile & online digital channels. Automates required Regulatory processes. Delivers a simple, effective and positive customer experience. . New Account Registration Key benefits ⢠Confirms the âliveâ individual presenting the ID is the valid holder ⢠Authenticates all global ePassports, biometric National IDs, validates over 3000 IDs from over 200 countries ⢠Auto-completes registration application with ID data ⢠Seamlessly integrates into existing registration process ⢠Improved customer experience ⢠Supports CDD, KYC & AML Regulatory Compliance ⢠Delivered through mobile and on-line digital channels Step 1 Submit ID Document Step 2 ID verified; forms auto- filled Step 3 âLiveâ capture
- 18. 18 Private & Confidential Š PaycassoÂŽ 2016 InstaSure⢠User Authentication for Account Access Overview Implements the biometric data captured during the initial customer registration (VeriSureâ˘) to subsequently authenticate that customer prior to making further transactions. Enhancing the customer experience, delivering increased security. User Authentication Key benefits ⢠Increased security ⢠Removes the need for the returning customer to re-present his or her ID ⢠Reduces reliance on user names and passwords ⢠Lower customer support costs for password recoveries ⢠Customer convenience and speed Step 1 âLiveâ capture Step 2 Authentication User access
- 19. 19 Private & Confidential Š PaycassoŽ 2016 IdentiSure⢠Detecting both duplicate and fraudulent account applications Overview Deployed within your Data Centres, a biometric repository that instantly determines, during new account registrations, whether the applicant is an existing customer using the face as the identifier. Detects parties that hold or have applied for multiple accounts under different names. Fraud Mitigation Key benefits ⢠Eliminates the opportunity for both fraudulent & duplicate account registrations ⢠The IdentiSure⢠platform supports batch input of; existing and historical customer account records, known fraudulent IDs, new account application data ⢠Processes in excess of 25 million images per second ⢠Supports ongoing compliance with domestic and international privacy regulations ⢠Supports a single customer view
- 20. 20 Private & Confidential Š PaycassoŽ 2016 DocuSure⢠Overview 1. Batch processing of historical account records facilitates the most effective solution for AML/KYC remediation and enhanced due diligence initiatives. 2. Using a mobile device as the data capture tool, instantly extracts personal information from GIIDs and prefills account registration forms, improving the customer experience. AML Remediation / Enhanced Due Diligence Key benefits ⢠Supports historical AML and CDD remediation initiatives through batch input of; existing and historical customer account records ⢠Authenticates all global ePassports, biometric National IDs and validates over 3000 IDs from over 200 countries ⢠Speeds up applications checking ID instantly during an application process ⢠Reduces customer loss through laborious form-filling ⢠Simple, effective and low cost Step 1 Submit ID Document Step 2 ID verified; forms auto-filled
- 21. 21 Private & Confidential Š PaycassoŽ 2016 EMEA/APAC Sales Toll Free: +44 (0) 808 234 4246 US Sales Toll Free: +1 888 788-8640 Sales@paycasso.com www.paycasso.com PaycassoŽ is a Registered trading name of Paycasso Verify Limited and Paycasso Verify, Inc. United States & United Kingdom Patents US Patent No. 8,7248,56 US Patent No. 8,908,977 US Patent No. 9,122,011 UK Patent No. GB2500823 International Patents Published/Pending United Kingdom No. 1519241.2 PCT/GB2014/050993 (WO2014/155130) European Patent Office No. 14275080.1 United States of America No.14/751,051 United States of America No.14/807,581 Australia PCT/GB2014/050993 (WO2014/155130) Brazil PCT/GB2014/050993 (WO2014/155130) China PCT/GB2014/050993 (WO2014/155130) Mexico PCT/GB2014/050993 (WO2014/155130) South Africa PCT/GB2014/050993 (WO2014/155130) Contact
- 22. Senior Technical Sales Manager Callcredit Information Group MEL CAMERON VERIFYING IDENTITY IN THE FACE OF REGULATORY CHANGES & FRAUD PREVENTION CHALLENGES
- 23. Challenges presented by increased regulatory focus 4th AML Directive ⢠An increased focus on a risk based approach and the ability of an organisation to justify its rationale around automated decisions ⢠More importance placed on keeping existing customer records up to date ⢠Fraudsters are becoming ever more sophisticated, making it increasingly difficult to validate that the applicant owns the identity they are providing Payment Accounts Directive ⢠From 18th September it becomes law for banks to provide a basic bank account to all EU customers Payment Services Directive 2 ⢠Requirements for Card Issuers and other payment services providers to increase security measures and adjust fraud prevention policies
- 24. Traditional approach to verifying identity PEPs Sanctions SDNs Address Links Gone away CIFAS Address Redirects DOB Mismatch Deceased Length of Residency Non Standard Addresses ID Velocity Traditional Identity checks look for sufficient proofs of residency using various data sources at the home address to enable organisations to meet internal policy requirements and ensure compliance with regulatory guidelines: SHARE data Electoral Roll Bankruptcies and Insolvencies County Court Judgements Clients are increasingly looking to configure datasets based on product type and the level of customer risk represented
- 25. Greater focus on a wider range of fraud checks to highlight where an identity is stolen Clients are looking to deploy additional fraud checks where the risk of financial crime is greater; ⢠Flexibility is needed so that strategies can be tailored by product and risk appetite ⢠Increased focus on confirming that the customer is who they say they are through fraud checks and KBA Questions ⢠Validation of identity documents without disrupting the customers journey is challenging for many organisations ⢠Any inconsistencies in application data need to be highlighted
- 26. How are Callcreditâs solutions helping organisations to address regulatory & fraud challenges? We are providing our customers with flexible solutions which address regulatory and fraud challenges with minimal disruption to the customer journey; ⢠Developing additional checks which look to pin non-traditional data sources such as Mobile, Device and Email to the identity â˘Increasing the range of KBA Questions to make them easier for the genuine customer to answer and providing document verification checks â˘Expanding the range of identity verification datasets and fraud checks which can be used for international customers â˘Highlighting inconsistencies in application data and looking to harness the power of social media and dark web data
- 27. QUESTIONS?
- 28. Founder and CEO TrustElevate.com DR RACHEL OâCONNELL
- 29. Q&A PANEL SESSION Panellists: Anne Green Managing Director, Global Operations Paycasso Mel Cameron Senior Technical Sales Manager Callcredit Information Group Dr Rachel OâConnell Founder and CEO TrustElevate.com
- 30. Managing Director - Software, Analytics & Fraud Callcredit Information Group CLOSING REMARKS RICK BIGGS
- 31. NETWORKING DRINKS, FOOD & ENTERTAINMENT Johnson Roof Terrace #FraudSummit10
Hinweis der Redaktion
- So first of all a quick recap on some of the challenges our clients are facing at the moment. So youâll probably all be aware that organisation are coming under increased scrutiny as a result of changes in regulation which place more focus on accurately validating customer identities. The 4th AML directive is presenting significant challenges for many customers, particularly in sectors such as Gaming where the previous AML regulations were more lenient. Organisations are being required to look at strategies they have adopted previously and ensure that they are still in line with the regulatory guidelines, and also adapt them where necessary to ensure they are still compliant. In addition, the European Banking Directive means that from 18th September all UK banks are obliged to offer a basic current account to EU residents so this presents additional challenges in validating identity for a customer demographic where data sources have traditionally been limited. Also the Payment Services Directive comes into play soon and requires card issuers and payment services providers to increase security measures and adjust fraud prevention policies, so in summary there is more focus being placed than ever before on knowing not only that the customers identity actually exists at their address but also that they own that identity and have not just stolen someone else's.
- Organisations have traditionally used automated ID checks to pinpoint an identity at an address, and a range of data sources have been used at the home address to confirm that the identity exists. The approach focusses on looking for sufficient proofs of residency at the address to validate that the identity exists there and in addition, fraud checks are also returned to highlight any potential risks. While these types of checks definitely still have their place in verifying identity, more and more focus is being placed on finding ways to verify identity where little or no information exists at an address in order to stop the applicant dropping out of the process and maximise the customers who are accepted. At the same time, there is also pressure to ensure they are not trying to falsify someone elseâs identity in order to obtain goods or services so thereâs a fine balance in making sure youâre taking on the good customers, while still finding appropriate measures to pick up those who are impersonating someone else.
- So this pressure for organisations to confirm that a customer is who they say they are is currently being addressed in a number of ways by Callcredit. We are still using the traditional method of looking for evidence that the applicants identity exists at the address provided, but in addition to this we are supplementing this data with fraud checks to highlight any inconsistencies which may indicate where an identity has been stolen. We have a range of fraud checks available which highlight the level of risk that the identity has been stolen and these take information that is available at point of application such as the Bank Account or Card Number, the Device, Phone Number and Email address and they highlight any anomalies relating to those and also any previous suspicious behaviour relating to them to indicate where there is a cause for concern. For exception handling, where an anomaly has been found on one of the fraud checks or little information can be found on the applicant at the address, we have also introduced KBA questions and will soon be launching document verification to validate a range of identity documents and also conduct facial recognition where required. So these solutions provide additional ways to carry out an automated check to ensure that the customer is who they say they are. We have structured our ID and Fraud checks within a modular solution to ensure that the service is flexible and can either return a wide range of checks together in one scorecard or can be used in a tiered approach meaning that checks can be configured to only trigger if some cause for concern is found, so that the application time is still kept to a minimum with less customers falling out of the process along the way.
- So where will our approach to identity verification take us next? Itâs looking as though over time it will become more and more important to be able to link the individual to additional things provided at point of application and not just the name and address as individuals become more transient and take more and more of their financial relationships online. As a results, weâre developing Device, Mobile and EmailID to highlight how confident we are that the individual owns the Device, Phone Number or Email address, and we envisage that all of these checks could be used by our customers, to help validate an applicants identity, where little information exists at the address. Weâve also recently developed a range of non-bureau questions within our KBA solution, to enable questions still to be asked where a thin credit file exists. The questions we have developed link to things such as vehicle details, email address and mobile number, so are linking to information which the genuine customer should find easy to answer but that the fraudster might find more difficult to get hold of. Weâre also seeing more and more of our clients dealing with new to UK customers or expanding globally, so as a results we now have multiple solutions which can be deployed across both the UK and International customer base in order to validate that the identity exists and that no information is present to indicate that identity theft might be taking place, again ensuring that those new to UK customers donât fall out of the application process. We will also be looking to expand these datasets overtime to harness the power of the information available within social media and also on the dark web, so that our clients can be truly confident that the person they are interacting with is truly the applicant and weâll be able to tell you more about these developments as they become more clearly defined. So hopefully that gives you a good overview of how Callcredit is working to help our clients address identity verification and challenges, so as Iâm the only thing standing between you and the bar Iâd like to thank you for your time.