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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

Electronic authentication: validating and verifying customer identities and bank details

Presented by: Stan Matthews & Scott Robertson

13th November 2007

making it easy for your customer
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
what is identity
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

principles of eid authentication
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……..

id fraud prevention
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?

how does it work
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
how does it work1

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?
authentication
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

business drivers
“Business drivers”
  • Straight through processing

Web

Call Centre

Post

  • Consistent AML strategy
  • Risk based approach
  • Improved operational efficiency
  • Compliant
  • Reduction in fraud
authenticate
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
summary
Summary
  • Identity theft is growing problem
  • Paper based checks are flawed
  • Electronic checks are accredited
  • Ease of use and implementation
  • Integrated into existing applications
electronic authentication validating and verifying customer identities and bank details1

Electronic authentication: validating and verifying customer identities and bank details

Presented by: Stan Matthews & Scott Robertson

getting payment processing right
Getting payment processing right
  • Improve the customer experience
  • Reduce costs
  • Increase revenue
how many do you have
How many do you have?

What do you

pay for by

you are not alone
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

the payment process
The payment process

BT

Barclays:

BT’s Bank

HSBC:

Customer’s Bank

what can go wrong with dd and dc
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
why do rejected payments occur
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
how can we help
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

validating bank details
Validating bank details
  • Growing industry
  • Minimise negative effect of rejections
    • Reduce costs
    • Improve customer experience
    • Increase revenue
  • QAS can help - BANKWIZARD
thank you for listening1

Thank you for listening

Presented by: Stan Matthews & Scott Robertson

Date: 13th November 2007

www.qas.co.uk