Identity verification provider Veriff has launched its latest feature that enables businesses to evaluate the risk of associated ID verification sessions.
The new RiskScore tool, unveiled at the Money 20/20 USA conference, looks to support clients to assess various fraud patterns and as a result make more informed decisions related to fraud mitigation.
It operates by introducing a scale of 0 to 100 that represents the overall risk associated with an ID verification session, analysing the documents provided in the process, as well as face biometrics, device and network.
Veriff’s RiskScore can also be integrated with existing risk intelligence solutions in order to deliver comprehensive fraud mitigation capabilities.
David Divitt, Senior Director, Fraud Prevention & Experience at Veriff, commented: “Organisations are faced with an evolving landscape of fraud risks that threaten their business, communities, compliance efforts, and brand reputation. They cannot afford to let their fraud prevention solutions grow stale, and must regularly assess and update them to stay a step ahead of the fraudsters.
“Veriff’s new RiskScore feature enables organisations to seamlessly integrate the scoring system into their strategies and empowers them to make faster decisions and easily detect new, less-defined threats.”