Nondocumentary Verification Can Elevate Match Rate Precision

Nondocumentary identity verification built on local expertise, data source sequencing and intelligent routing can position organizations to optimize the cost of onboarding good, verified customers.

But that can be difficult to accomplish when organizations rely on multiple point solutions and verification partners that don’t continually refine match rates through data science and optimize onboarding performance. The challenge for organizations is finding a partner that applies those techniques in a way that triangulates cost, performance and coverage.

The Trulioo Person Match buyer’s guide, “Identity Verified: Your Roadmap to Match Rate Excellence,” charts a path for organizations to overcome that challenge. The guide examines the core features of best-in-class nondocumentary identity verification and provides critical questions organizations can ask potential partners.

Advantages of Nondocumentary Identity Verification

Nondocumentary verification compares personally identifiable information (PII) against credible local and global data sources to ensure a person is legitimate.

The technique often satisfies regulatory compliance and fraud prevention requirements. But the process can go deeper with AI and machine learning algorithms, along with natural language processing, normalizing variations, elevating match rates and delivering smooth onboarding experiences that ensure false negatives become true positives.

Organizations can tailor those processes to meet their specific needs based on location, demographics and market dynamics.

How to Choose the Right Verification Provider

The evaluation starts with an inventory of where the organization operates and its requirements in those regions. A partner with expertise in those countries can help companies optimize verification performance.

Does the partner have flexible technology that can quickly adapt to shifting needs and market requirements? Agility and data-driven insights fuel performance because different markets and use cases pose different onboarding challenges.

Can the partner configure verification workflows to deliver superior user experiences based on specific customer demographics? Optimizing the onboarding cost of good, verified customers requires the best mix of data sources in conjunction with data inputs and the ability to customize the data mix to meet the business’s unique needs.

Develop a Trusted Partnership

Once a company finds a potential verification partner, vetting is essential.

Tests on real-world data help companies understand how verification performs under various scenarios. How does the partner enhance the quality and diversity of data sets to increase match rates, reduce false declines and expand global possibilities?

Questions around integration and deployment help provide insight into strategies for onboarding customers without interruption. Is there a range of integration methods tailored to meet an organization’s specific needs?

Identity verification is not a set-it-and-forget-it process. It requires continual reassessment and optimization so organizations can evolve with trust and safety trends, regulations and the macroeconomic landscape. What is the partner’s plan to optimize performance for each use case and market?

With the right partner and precise nondocumentary identity verification, organizations can ensure they strike the right balance between acquisition cost and customer lifetime value