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Electronic authentication: validating and verifying customer identities and bank details

Electronic authentication: validating and verifying customer identities and bank details . Presented by: Stan Matthews & Scott Robertson 13 th November 2007. Making it easy for your customer. Streamlining business processes to improve customer interaction Straight-through processing

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Electronic authentication: validating and verifying customer identities and bank details

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  1. Electronic authentication: validating and verifying customer identities and bank details Presented by: Stan Matthews & Scott Robertson 13th November 2007

  2. Making it easy for your customer • Streamlining business processes to improve customer interaction • Straight-through processing • Name and address capture • Electronic identity check • Credit check • Bank account validation

  3. What is identity? • Attributed identity • Name • Date of Birth • Collected identity • Education • Employment • Biometric identity • DNA UKPA had 16,500 known fraudulent applications 2,500 fraudulent applications for Driving Licences 80,000 reported cases of Fraud 2006 5,000 Driving tests cancelled in 2005 UKPA issued 10,000

  4. Principles of eID Authentication Electronic Identity Authentication Proves your customers identity by comparing bio-graphical information given at point of application against data held within authoritative databases……..

  5. ID fraud prevention • Validation Proving an identity exists • Verification Proving the applicant is the owner of that identity ….does Stan Matthews exist? ….am I Stan Matthews?

  6. How does it work? • Data Input • Name and Address validation • Validation • Establishing the existence of a real world identity • Verification • Positive corroboration of identity and biographic details supplied • Key fraud indicators • Authentication

  7. Validation Data Input Authenticate Capture Fields Name Address Secure Internet Connection Validated Name and Address Date of Birth Time at address Former Addresses Time at these addresses Male or Female Telephone Numbers No of Dependents Bank Details Owner Occupier PAF ER Yes No Authentication Index Verification 70 Authentication How does it work?

  8. Authentication • Breadth • No. corroborative matches against data sources • Depth • How far back in time the record goes • Quality • Type of record and level of due diligence performed in its creation Authentication Index

  9. Experian’s data sources

  10. The Joint Money Laundering Steering Group

  11. The Joint Money Laundering Steering Group

  12. “Business drivers” • Straight through processing Web Call Centre Post • Consistent AML strategy • Risk based approach • Improved operational efficiency • Compliant • Reduction in fraud

  13. Authenticate • Hosted, integrated or bespoke • Solution fast & easy to implement • Name & address verification on entry • Breadth & depth of Experian data • Data consistency and updates • Pre-configured authentication templates • Easy to use – improves business process • Scaleable Solution

  14. Summary • Identity theft is growing problem • Paper based checks are flawed • Electronic checks are accredited • Ease of use and implementation • Integrated into existing applications

  15. Electronic authentication: validating and verifying customer identities and bank details Presented by: Stan Matthews & Scott Robertson

  16. Getting payment processing right • Improve the customer experience • Reduce costs • Increase revenue

  17. How many do you have? What do you pay for by

  18. You are not alone: 75% of people in the UK have at least one Direct Debit commitment 98% of the UK workforce is paid by Direct Credit 1 billion extra Direct Debits to be processed each year by 2015 700 million extra Direct Credits to be processed each year by 2015

  19. The payment process BT Barclays: BT’s Bank HSBC: Customer’s Bank

  20. What can go wrong with DD and DC? • Rejections • 50 million Direct Debits and 2 million Direct Credits rejected each year • Implications • Costs - an average of £30 to fix each rejected payment • Customer experience • Loss of business

  21. Why do rejected payments occur? • Lack of funds in the payee’s account • Mistakes on the Direct Debit mandate • Data entry errors • The account does not support Direct Debits / Direct Credits

  22. How can we help? “Since implementing BANK WIZARD we have virtually eliminated the problems associated with processing incorrect bank details. I would have no hesitation in recommending BANK WIZARD to any organisation processing large volumes of Direct Debits” Shelagh Osey, Financial Services Manager

  23. Calculating the costs

  24. Calculating the costs

  25. Calculating the costs

  26. Calculating the costs

  27. Calculating the costs

  28. Validating bank details • Growing industry • Minimise negative effect of rejections • Reduce costs • Improve customer experience • Increase revenue • QAS can help - BANKWIZARD

  29. Thank you for listening Any Questions?

  30. Thank you for listening Presented by: Stan Matthews & Scott Robertson Date: 13th November 2007 www.qas.co.uk

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