Fraud Protection for Remittance & Other Financial Services
Stop fraudulent transactions with a simple, powerful anti-fraud solution
The remittance and financial services industry is a prime target for fraud. And the financial losses are escalating, even as companies invest in anti-fraud solutions they assume will protect them. Identity fraud costs as much as $16 billion each year, and check fraud accounts for over $7 billion in annual losses.
The financial impact is significant, but it’s only part of the picture. Fraud reflects badly on your brand, your reputation, and your credibility. If consumers lose confidence in your ability to provide secure financial services, you could lose their business.
Conventional anti-fraud approaches aren’t the answer
Fraud is rampant in the financial services industry because the solutions most companies invest in simply don’t prevent fraud.
Traditional approaches use personal IDs, badges, or big data—all of which a criminal can easily hack or manipulate. When that happens, your business is left with nothing but a financial loss and a false ID…while the fraudster escapes with no penalties.
Identifid takes a different, better approach: We combine biometrics, vision processing technology, and a patented process to link the individual to their behavior (not their ID).
Discover how one remittance franchise cut fraud by 75%!
Identifid puts a stop to financial services fraud
Remittance and other financial services providers can now prevent any type of fraud with the Identifid solution. Whether your customers are attempting to cash a check, send money to people in the US or internationally, or secure title insurance for a new mortgage, Identifid can confirm they are who they claim to be—accurately and non-intrusively. Identifid captures the customer’s biometric signature at the time of the transaction, providing more accurate identity verification than traditional IDs.
With Identifid as your trusted solution, fraud prevention becomes effective and easy.
- Verify that consumers are who they claim to be, by capturing their biometric signature before they cash a check, send money to another individual, or obtain title insurance for a new mortgage.
- Reduce wait times for your customers and inefficiency for your staff by eliminating the time and trouble of checking IDs and entering data manually.
- Ensure a satisfying customer experience by using a fast, non-intrusive way to prevent fraudulent transactions.
- Protect your customer’s personal information against data breaches by avoiding the need to store biometric data on your systems.
- Increase the odds that a fraudster will abandon the transaction by installing Identifid biometric cameras at every location.
- Speed your implementation with a plug-and-play solution that requires no system integration work.
Stop remittance fraud
Person-to-person payments are a top target for fraudsters. Get them to think twice about proceeding by requiring an Identifid biometric signature at the time of the transaction.
Prevent check cashing fraud
Consumers appreciate the convenience of cashing checks at grocers and other stores. Keep fraudsters from taking advantage by installing biometric cameras that force them to leave behind their identity “DNA”.
Protect against title fraud
Mortgage fraud is costly—and easy to commit with a false ID. Before you issue title insurance, use Identifid to verify the customer’s identity with a biometric signature.
Identifid delivers everything your financial services business needs to prevent fraud
- Ties each customer to their transaction (not their ID) for improved fraud protection
- Combines a patented process with biometrics and vision processing technology for the highest accuracy
- Simplifies implementation with a plug-and-play design that doesn’t require time-consuming system integration work
- Reduces your fraud prevention costs through an affordable monthly subscription fee per device
- Makes fraud prevention entirely non-intrusive for your customers
Start Proactively Preventing Fraud
Discuss how Identifid solutions can seamlessly integrate with your existing systems to upgrade your security and identity authentication process.