Cyberattacks are not limited to big business; they affect small and medium-sized businesses (SMBs) too. Research from Accenture indicates an alarming 43% of cyberattacks are aimed at small businesses, underscoring the need for industry awareness and effective small business fraud prevention measures.
Even more worrisome, according to Keeper Security 2019 SMB Cyberthreat Study, six out of 10 small businesses have no digital defense plan in place. With smaller budgets, less access to security expertise and an increasing exposure to the threat of cyberattacks, this is a critical time for SMBs to deploy solutions that can protect their business without requiring extensive costs and efforts.
Best-in-class fraud defense technology
Organizations of all sizes deserve best-in-class fraud defense technology. Unfortunately, due to budget restraints, SMBs typically have limited access to bank-grade technology and security solutions, making them an easy target for bad actors — until now. With new document verification and facial recognition features in GlobalGateway EmbedID, businesses can ensure the highest levels of security and compliance without sacrificing the customer experience. They can provide the same level of online protection to their customers as multinational organizations, without the associated costs and complexities.
EmbedID helps businesses verify users during the account creation process to help meet Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements, increase trust and safety, and mitigate fraud risks. As part of a holistic approach to identity verification, this new technology will empower SMBs to ensure compliance, become more resilient against cyberattacks and maintain their operations during these challenging times.
Instantly verify personal identification information
Using EmbedID, businesses can copy a snippet of code and paste it onto their website to automatically generate a stylized registration form that is preconfigured to instantly verify personal identification information through Trulioo GlobalGateway API. The new features enable ID documentation verification and biometric authentication for an added layer of security. This empowers SMBs to check the authenticity of government-issued ID documents and use facial recognition with liveness detection to ensure that the person creating the account matches the photo on the ID document.
Rutherford Wilson, director of growth at Trulioo, states, “in an age of ongoing digital transformation, it’s essential for SMBs to be able to access the same identity verification solutions used by large organizations to protect their business and scale their company … Sadly, 60% of small and mid-sized businesses go out of business after an attack, and we designed EmbedID to help level the playing field to allow for accelerated innovation, customer acquisition and competition in the marketplace.”
“SMBs tend to have limited IT budgets and KYC/AML compliance expertise,” continues Wilson. “We wanted to build a solution for SMBs that provides battle-tested identity verification, reduced integration costs for IT departments, and an easy-to-use administrative portal so non-tech individuals can make updates as requirements change.”
EmbedID is free to try, easy to implement, and helps SMBs deploy effective fraud prevention, improve KYC/AML compliance, and increase trust and safety. Sign up today and protect your SMB with the same technology used by banks, Fortune 500 enterprises and internet giants:
Get the EmbedID datasheet — start verifying the globe
Learn how to build trust, reduce fraud and mitigate risks with an easy integration to the Trulioo GlobalGateway identity network.