Your new customer is creating an account on your website and their information is rejected. At best, it’s a slight slow-down in the user experience. However, if their information continues to be rejected time and time again, the frustration will start to build. But, even worse, unmatchable inputs can lead to invalid data, resulting in customer abandonment and your brand being associated with a poor user experience.
Multiply that by thousands, or millions, of customers, and a fundamental problem of properly identifying your new customers becomes apparent; billions of variables need consideration and verification. Without some way to effectively manage all these variations, identity verification becomes slow, potentially inaccurate and possibly unusable.
Data collected at account creation often varies depending on the country, language, cultural values and conventions, unique alphabets, syntax, forms, formats and input limitations. Each address, name, date-of-birth, email, phone number or other data point can have multiple variations of input. To maximize your ability to onboard new customers, your identity verification provider needs to consider all these possibilities.
Managing and clarifying identity data
To help gather and carefully analyze large sets of data to determine patterns, the dedicated team at Trulioo is able to tap into years of expertise and the latest technologies to automate and streamline this process. By understanding different markets and audiences, inputs are normalized and optimized to make analysis quicker and more accurate in order to improve verification match rates.
To maximize results and get the best identity match rates, factors to consider include:
The more identity checks conducted, the larger the data set, enabling deeper and more accurate analysis. Each market and use case needs an abundance of inputs to deliver insights, and only vendors with extensive volume can deliver effective global solutions. With enough data, the ability to efficiently handle an almost infinite number of variations becomes possible.
Complexity and variety of the data
The expertise to refine and improve artificial intelligence algorithms creates opportunities to detect and handle more patterns. Using technologies such as Natural Language Processing and Deep Learning improves fuzzy matching, character/keyword recognition and continuously evolves and optimizes the processing of data.
Standardizing data and improving data quality needs to happen in milliseconds to enable a fast and seamless onboarding experience. It’s also vital to be able to scale up to handle numerous identity checks without decreasing speed.
The global KYC match engine
Trulioo, as the leading global identity verification service, has the scale, talent, knowledge and technology to deliver the premier global KYC identity match engine. Trulioo can:
- Process billions of data points in real-time
- Provide near-instant results tailored to meet a customer’s risk tolerance
- Deliver trusted expertise in nearly every global market
- Accurately predict which methods to use to optimize outcomes in each country and every use case
- Substantially increase identity match rate optimization
With ten years of experience in the industry and millions of daily transactions flowing through Trulioo GlobalGateway, we have the data and working knowledge to provide unprecedented match rates and at speeds that won’t have your customers waiting.
Our data scientists, AI experts and programmers are continually gathering, analyzing and interpreting massive data sets to detect patterns and optimize results. The biggest data sets combined with industry-leading identity intelligence technology enables more identity matches on the first pass. The results are quicker onboarding experiences for customers and fewer slow, costly manual checks for businesses.
The volume of data GlobalGateway receives, interprets, manages, processes, and sends to data partners is massive. We also reprocess all the returning data, to further optimize results. The ability to deal with infinite variations, at speed, is a key selling point for choosing Trulioo; we have the reach, expertise and technology to effectively deliver a global KYC match engine.
The result is the fastest onboarding experience and more customers.
Organizations switching to GlobalGateway have seen their verification rates rise by upwards of 40% when compared to their current providers.
Are you interested in seeing how the global KYC match engine can improve your identity pass rates to deliver a better customer onboarding experience?
Take the Match Rate Challenge — see how good your identity match rates can be.