People and businesses selling and doing business online or through a mobile device often worry about the validity of their transaction. When someone starts to sign up and make their order, they might ask “What if that was just a hack?” The answer to that is: “better have some KYC.”
KYC, or Know Your Customer, are the steps taken by businesses to verify customer identity and assess the risk for fraud and financial crime, such as money laundering. It’s a serious matter but also the subject of Trulioo’s second parody video.
In last year’s parody, we were “Down with KYC.” This year we’re in love with the shape of our latest parody video, “Verify You,” a music video inspired by one of Ed Sheeran’s hottest songs. The parody music video made its worldwide debut at the 2018 KNOW Identity Conference hosted by One World Identity in Washington, DC.
Following the day in the life of a young woman just going about her business, the video features a few slices of life in our modern digital world – and how online verification works to protect people and businesses from fraud. From buying a phone to setting up a coffee date, and from hailing a rideshare to leasing her apartment to a couple, she can do all of that from her phone – and she does. But what she may not be aware of is that the online marketplaces and services she accesses through her mobile device leverages a suite of identity verification and authentication technologies to help safeguard her transactions and detect and prevent fraud.
“Our goal with the parody music video is to drive home an important message,” Stephen Ufford, CEO at Trulioo. “As fraudsters continue to shift online with more sophisticated techniques, innovative identity verification technologies are being used to power high-tech solutions to prevent fraud in today’s mobile-first world.”
Video may have killed the radio star but KYC is there to help you wipe out fraudsters and criminals.
Check out our video here and like and share on social media with the hashtag #VerifyYou.