#United States #Atlanta #Equifax #Kount 360 #Identity Proofing

Equifax Unveils its New Identity Proofing Solution on Kount® 360

Equifax, a global leader in data analytics and technology, has introduced a cutting-edge Identity Proofing solution integrated into its award-winning Kount® 360 platform. This innovative tool is designed to combat identity fraud effectively by validating customer-provided information throughout the customer journey.

In today's rapidly digitalizing world, ensuring the authenticity of identities is paramount, especially for industries such as finance, retail, and automotive lending. The new Identity Proofing feature leverages the power of Equifax Cloud™, allowing businesses to perform stringent verification checks to confirm that the data supplied by customers is accurate, trustworthy, and not associated with any sanctions or blacklists.

Addressing Growing Fraud Challenges

Fraudulent activities have become increasingly sophisticated, prompting businesses to seek more reliable solutions for identity verification. With Identity Proofing, Equifax aims to meet the needs of organizations that depend heavily on trusted identity verification, thus improving their customer onboarding processes.

Ajay Guru, Senior Vice President and General Manager of Digital Solutions at Equifax, highlighted the significance of this launch: "The introduction of Identity Proofing highlights our resilience against evolving fraud threats. We empower Kount360 users to take command of more secure onboarding procedures while fostering a trustworthy relationship with consumers amid the challenges of a swiftly changing digital age."

Comprehensive Features of Identity Proofing

The Identity Proofing solution offers a suite of features that enhance verification processes:

1. Identity Verification Checks: Businesses can confirm individual identity details through Equifax's extensive data network, utilizing state-of-the-art AI and machine learning models.
2. Customizable Workflows: Organizations can tailor identity verification practices to resonate with their specific operational requirements. This flexibility ensures that different business units or channels remain efficient and effective in onboarding new customers.
3. User-Friendly Experience: By consolidating various solutions under one roof, Identity Proofing minimizes the hassle of engaging multiple systems, simplifying the user journey.
4. Step-Up Authentication: The solution facilitates enhanced onboarding experiences by implementing streamlined customer verification protocols whenever there's a requirement for additional identity confirmation.

Additionally, the integration of document verification and facial recognition capabilities, thanks to Equifax's collaboration with Incode, further bolsters the defense against evolving threats. In recent announcements, the Financial Crimes Enforcement Network (FinCEN) has warned of the rise of deepfake technology, which in combination with Equifax’s advanced synthetic identity detection models, provides a formidable barrier against potential fraud attacks.

Additional Benefits and Future Aspirations

With Identity Proofing, businesses will enjoy a clear perspective on identity risk encompassing comprehensive, customizable pathways that facilitate smoother onboarding. The tailored approach minimizes fraud rates while cultivating improved interactions with consumers.

As this solution becomes available via the Kount 360 platform, businesses seeking to enhance their verification capabilities can expect to achieve superior fraud prevention outcomes. With a dedicated commitment to innovation, Equifax continues to empower organizations with the tools necessary to navigate a complex digital terrain.

To learn more about how Identity Proofing can transform your identity verification processes, visit the Kount 360 website.

About Equifax Inc.

Equifax is a prominent global entity focused on data, analytics, and technological solutions, committed to assisting a range of stakeholders— such as financial institutions, corporations, and government agencies. Headquartered in Atlanta, Equifax operates in 24 countries, employing nearly 15,000 individuals worldwide. Their efforts are driven by the belief that knowledge fosters progress, with the company's unique blend of data and analytics fueling critical decision-making processes across the globe. For further information about Equifax, visit their website at Equifax.com.