B2B Identity Verification
Some top examples of B2B identity verification software programs are ExpectID, LexID, and Jumio Netverify. Below are the requested details for each identity verification software.
ExpectID from IDology
- IDology is a digital identity verification leader that has been providing innovative B2B identity verification and fraud prevention solutions since 2003.
- IDology's solutions include identity verification, compliance solutions, age verification, dynamic KBA, customer-based authentication, digital authentication solutions, contact center solutions, and document scan solutions.
- The company's B2B identity verification is called ExpectID, and it "uses a multi-layered process to access thousands of data sources containing billions of public records to instantly validate an identity while also providing predictive, intelligent information around that identity."
- ExpectID's identity verification process happens without interrupting the ongoing transaction, without customer involvement and requires as little information as a customer's name.
- The ExpectID program works as follows:
- a customer's basic information is submitted into the system
- a preliminary result is returned that includes any identity discrepancies
- the preliminary identity is subjected to "deep set of fraud detection layers to help minimize risk"
- depending on the results from the fraud detection layers, "the transaction can be approved, failed, or escalated for additional verification through ExpectID IQ, ExpectID Scan Verify, or ExpectID Secure OTV."
- The company also offers ExpectID Global, the "international expansion of IDology’s identity verification and fraud prevention solution," to verify the identity of customers outside the United States.
- IDology does not publicly reveal the pricing data for the ExpectID identity verification software, but anyone interested is requested to schedule a demo with the company.
- According to Featured Customers, IDology "presents quote-based pricing for its fraud management solutions," and businesses should contact IDology to get a custom quote based on their requirements.
- Here's why we determined that IDology's ExpectID is one of the top B2B identity verification software:
- it has been featured on FeaturedCustomers, "the world's leading customer reference platform for B2B business software & services"
- it has an overall customer reference rating of 4.8/5 based on 689 user ratings, including 495 testimonials and 194 case studies ratings.
- the company has a top performer recognition in identity verification and fraud prevention
LexisNexis Risk Solutions' LexID
- LexisNexis Risk Solutions, formerly ThreatMetrix, provides customers with innovative solutions and decision tools to "enable organizations to manage risks like identity theft, fraud, money laundering and terrorism, and prevent financial crimes, and insurance and government beneﬁt scams."
- The company combines its unique identifier, LexID, with proprietary linking technology to "resolve, match and manage information...for over 275 million US identities...to help customers fight fraud, mitigate risk and remain compliant." This combined technology "is the machine behind many LexisNexis products that leverage authentication, verification and other identity management capabilities."
- Here's how the company's identity verification and fraud prevention software works:
- LexID is assigned to every new record. The "LexID is not derived from personally identifiable information, like a social security number."
- records that have intersecting data points are then "linked together by LexisNexis® patented Scalable Automated Linking Technology and are then assigned the same LexID."
- the identity profiles are then enhanced to ingest new records to paint "an extremely accurate picture that accounts for identity changes over time."
- LexisNexis's products and services are offered in terms of a customized quote, so interested customers should contact the company for detailed pricing information.
- Here's how we determined that the company's software is among the top identity verification software:
- Jumio is a global leader in AI-powered identity verification that helps businesses bring in customers faster and lock out fraudsters.
- According to Featured Customers, "Jumio is a leading identity management and credentials company that helps businesses reduce fraud and increase revenue while providing a fast, seamless customer experience."
- Jumio ID verification "enables real time ID verification, safeguarding customer data and ensuring organizational KYC/AML compliance."
- Jumio's ID document verification uses advanced technology to "to establish the genuine identity of their users by verifying government-issued identity documents in real-time.
- Here's how it works:
- the system captures the front and back faces of government-issued identification documents
- data from the documents is then extracted automatically to assess the authenticity of the documents
- the system then combines machine learning, computer vision, artificial intelligence, and human verification experts to verify the IDs in real-time.
- We determined that the software is one of the top identity verification software because: