FIS ID Authentication

Easily Authenticate Customer Identity for New or Existing Accounts

As fraudsters become more sophisticated, financial institutions need a practical approach to verify or authenticate customer identity for new or existing accounts.

Banks and credit unions need the ability to easily validate, verify and authenticate an applicant’s personal data without increasing customer acquisition costs. With FIS, financial institutions can take knowing your customer to the next level.

As part of our multi-layered approach to verification, FIS ID Authentication can quickly authenticate customer identity prior to opening an account or issuing authorization. Using multiple non-credit data sources, not just wallet-based or financial history information, ID Authentication generates real-time, multiple-choice out-of-wallet questions using personal background information that only the applicant would know. FIS ID Authentication can help determine if applicants are who they claim.

Benefits of ID Authentication to authenticate customer identity:

Reduces abandoned activations or account openings. By utilizing lightning-fast search and matching technology, ID Authentication can help positively substantiate identity. The result is more approved accounts and a healthier bottom line.
Reduces risk of identity fraud. Institutions can easily corroborate that the presented identity data is valid throughout multiple public data sources, as well as ensure the applicants are who they claim.
Establishes trust. By securing a customer's private information, institutions also protect their reputation.
Improves customer service.Through a less intrusive and highly accurate verification system of out-of-wallet questions, an institution can enhance a customer's experience.
Reduces costs. Comprehensive data allows institutions to avoid incorrect decisions and review extensive reporting for customer analysis.
Provides compliance. Institutions that authenticate customer identity can resolve discrepancies in an applicant’s identity information, helping to comply with the USA PATRIOT Act. ID Authentication helps financial institutions make smarter decisions, open more profitable accounts, process customers and prospects faster while complying with regulatory mandates and reducing overall fraud losses.

We invite you to learn more about the leading solution to authenticate customer identity! Find out how FIS ID Authentication can benefit your financial institution by watching a product demonstration , attending an upcoming web seminar or sign up for a free trial.

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