Monday February 6, 2023

Frictionless identity verification for onboarding

Use Case	Frictionless identity verification for onboarding
Sector	Financial Services Retail Media Gambling
CAMARA API	Know Your Customer Match View API Descriptions
Business problem being solved	Ensure accurate and efficient customer identity verification to prevent identity fraud, comply with regulatory requirements, and enhance the user experience by streamlining the onboarding process and reducing friction for new customers
How the solution works	The solution enables seamless background identity checks of customers during the onboarding process. By leveraging data from the following API, the system can Reduce friction in the onboarding process: • Know Your Customer Match API: The service provider is able to compare the information it has for a particular mobile phone user with that on file (and verified) by the mobile phone user’s Operator in their own KYC records. Additional advantages include: • Reducing friction in the onboarding process, improving conversion rates and customer satisfaction. More intrusive identity checks can be applied to users that cannot be verified seamlessly. • KYC spend optimisation by screening out some fraudulent applications early instead of applying advanced KYC to all