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How to Know Customers Are Who They Say They Are

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In 2015 alone, 62% of companies were targets of payment fraud. As customers increasingly conduct their financial affairs online and via mobile devices, risk management and fraud prevention become more and more difficult. So, how do you know customers are who they say they are?

Short of reaching through the computer, tablet, or smartphone screen and verifying a customer with your own eyes, there are a plethora of ways that help you better know your customer, manage risk, and even prevent fraudulent transactions.

Age & National ID Verification

The first step to customer authentication is to match a customer's national ID (for example, their social security or driver's license numbers) and date of birth. Better authenticate a customer's ID documents and simplify compliance with any age restrictions or purchase laws, while improving customer service at the same time. Instantly verify that the customer purchasing your age-restricted goods is old enough to legally make that purchase.

Name-Address Matching

The second step is to match name to address to confirm the person buying your product or service isn't giving you false information. Personator leverages a comprehensive dataset containing billions of records to confirm and match current names and addresses with the highest degree of accuracy. Our powerful, real-time tools and services help you achieve entity resolution and compliance, as well as better know your customer and reduce, or even eliminate, the need for manual review.

Address Correction & Formatting

Next, you'll want to add in what's missing from customer data entry, legacy systems, sales input, and anywhere else your records come from. Add missing street suffixes, state/province/administrative area info, and standardize addresses to specific country formats using Advanced Address Correction (AAC) to verify that addresses are accurate and deliverable to real locations.

Contact Data Validation

Validation concerns more than just a name or address - it needs to look at all aspects of people data, from names and addresses to phone numbers, email addresses, geocodes, IP locations, demographics, and more. Determine that the given postal address for every customer is deliverable, the email address exists, the name associated with a mobile device and whether the phone number is active and callable, and the given name is in a valid format. You can even trace customers with geocodes and IP locators to manage risk and ensure compliance.

Melissa's Personator® World Edition can help meet all of these needs. Personator is a customizable web service that fits all your ID verification process and risk management requirements. It can help optimize onboarding and fraud detection in Ecommerce, AML Compliance, Customer Due Diligence, Card Not Present, Know Your Customer (KYC), and FinTech/RegTech arenas.

Try Personator free for 30 days to see how it can transform your business's safety and compliance.

How to Do It All with Melissa

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With Melissa, you can do it all - see for yourself with the brand new Solutions Catalog. This catalog showcases products to transform your people data (names, addresses, emails, phone numbers) into accurate, actionable insight. Our products are in the Cloud or available via easy plugins and APIs. We provide solutions to power Know Your Customer initiatives, improve mail deliverability and response, drive sales, clean and match data, and boost ROI.

 

Specific solutions include:

·         Cleaning, matching & enriching data
·         Creating a 360 degree profile of every customer
·         Finding more customers like your best ones with lookalike profiling
·         Integrating data from any source, at any time

Other highlights include: global address autocompletion; mobile phone verification; real-time email address ping; a new customer management platform; as well as info on a wealth of data append and mailing list services.

 

Download the catalog now:

http://www.melissa.com/catalogs/solutions/index.html

 

Melissa Data recently launched Personator - a flagship data quality Web service designed to provide instant identity verification and fraud prevention for e-commerce and call center applications.

Personator compares incoming customer and prospect records against multi-sourced data sets - including telecom data, USPS datasets, title and deed information, financials and GIS - to confirm that a name matches an address, corrects and updates address, telephone and email information.

Personator can also append missing contact information, such as address type (business or residential), if the property has been vacant for more than 90 days, and if the address is missing a suite or apartment number - critical pieces of information that increases accuracy by ensuring a valid and correct link between the data and identity of individual customer contacts.

Benefits to using Personator:
• Ensures address data is correct and matches the name before processing a credit card or filing a document
• Get addresses right the first time to reduce costs
• Verify contact data to maintain communication with valued customers

Two Levels of Service to Heighten Level of Accuracy

Personator offers two levels of service - a Check feature that allows overall improvement of contact records through data parsing and corrections. Personator's advanced address correction (AAC) technology allows more aggressive corrections and appends to address data.

Personator's Verify feature determines whether the different elements of a record truly correlate to the same individual. Specific data can be nominated as the centric record (for instance, a postal address or an email address) providing an effective means to determine whether other contact data elements correlate.

Personator is flexible and cloud-based, supporting multiple protocols such as SOAP, XML, REST, and JSON.

To request a free trial of Personator, click here.


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