Multiple independent sources are a major tenet in science, criminal justice, journalism, and in many other fields where the truth is important. Relying on one source is problematic; they can be inaccurate, out-of-date, have an agenda, or, for some other reason, just plain wrong. However, if you have numerous, unconnected sources that point to the same thing, the likelihood of accuracy increases significantly.
As the American judge Learned Hand stated, “Right conclusions are more likely to be gathered out of a multitude of tongues, than through any kind of authoritative selection. To many this is, and will always be, folly; but we have staked upon it our all.”
Besides the number of sources, you should also consider the quality of the source; not all sources are created equal. You want sources that have a good history of accuracy, sources that you can trust.
So, if you are looking to effectively verify an identity, leveraging multiple unique and independent sources is advantageous for many reasons. If the sources correlate, that provides an improved likelihood of identity verification. On the other hand, if the sources don’t match, it points to a potential issue and warrants further investigation.
As part of our ongoing effort to provide the best identity verification coverage (both quality and quantity) for our clients, we are pleased to announce that we've added US credit data to our GlobalGateway platform, an extensive and comprehensive identity data marketplace providing access to over 200 data sources to verify over 4 billion people. By expanding our data coverage, we help our clients onboard legitimate customers from over 60 countries through a single API integration, driving revenue with increased acquisitions and protecting the bottom line by reducing fraud and risk.
At Trulioo, we take a data marketplace approach to fulfill your identity verification needs. Clients decide what attributes to verify and what trusted sources to run queries from. Based on the business needs or risk appetite, our clients create the match rules and select the attributes and data source types to check against.
As the US is still the world’s largest consumer market, the addition of the credit data is important to both, established US companies and companies making their first foray into the US market.
“As a startup ourselves, we understand the challenges of getting the first foot in the door” notes Stephen Ufford, Trulioo’s CEO. “Startups and SMB’s that must to adhere to AML/KYC compliance rules can tap into the US market by integrating Trulioo’s identity verification API to instantly verify US customers.”
For more information about Trulioo’s identity verification coverage, contact sales at 1 (888) 773-0179.