This solution helps safeguard customers’ and employees’ personal identity information, while meeting merchants’ need for speed, security and cost-effectiveness.Edison”s StrikeForce Technologies has launched VerifyID, a real-time online identity verification solution that helps eliminate fraud when new accounts are created. This online solution ensures would-be customers are who they say they are, protecting consumers and saving companies billions of dollars in losses.
StrikeForce”s VerifyID solution helps safeguard customers” and employees” personal identity information, while meeting merchants” need for speed, security and cost-effectiveness and preserving user experience.
VerifyID solution generates a series of unique questions that only the “real” user can accurately answer. This customized algorithm-driven quiz filters out pretenders, who can”t bluff the answers to questions selected from more than 22 billion public records. The process takes a few minutes.
VerifyID costs a couple of dollars per transaction.
“Identity theft cost $52.6 billion last year Â $15.7 billion from fraud created by new accounts Â and worries about fraud caused vendors to reject almost 6% of online transactions,” said George Waller, co-founder and executive vice president of StrikeForce Technologies.
StrikeForce”s platform of online identity assurance solutions includes a next-generation authentication platform, anti-keylogging tools and a transaction risk assessment engine, in addition to the verification.