Know Your Customer Match
The Problem
Fraudsters are continually on the prowl to exploit even the tiniest gaps in verification. Certain sectors, such as banking, fintech, and iGaming, are more heavily targeted than others and also face major challenges in meeting regulatory demands for Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
Traditional verification methods are often cumbersome and rely on static, outdated data – inefficiencies that can result in businesses losing valuable customers. Meanwhile, fraudsters chip away at gaps in verification by creating multiple fake accounts, stealing user credentials,
and even laundering money through these platforms. This can result in significant financial losses and regulatory penalties.
The Solution
The solution to these challenges is KYC Match, which enables real-time identity verification by cross-referencing mobile numbers with user information directly from their mobile network operator, such as registered subscriber name, address and date of birth. This validation process creates a matching score allowing customers to instantly reject fraudulent or suspicious users.
KYC Match protects against numerous forms of fraud, such as origination fraud, first-party fraud, bonus abuse and other fraud types where knowing your customer is crucial. By leveraging real-time data from mobile operators, KYC Match helps businesses minimize risk and avoid financial losses due to fraud.
Advantages
One of its key advantages is enabling companies to verify information about onboarded users with thin credit files, who might otherwise be rejected by traditional methods. This expands the pool of eligible customers while maintaining strict security. By cross-referencing real-time SIM data, KYC Match provides reliable verification while significantly reducing fraud risk and improving trust across various verticals, from financial services to ecommerce and almost any enterprise that has users.
CONTACT US TODAY!
To learn more about how netnumber full range of innovative, pioneering and cost-effective phone number intelligence solutions can help you streamline, simplify and secure your network operations, drop us a line at sales@netnumber.com
