As a business owner, are you constantly trying to thread the needle between verifying your users and streamlining your registration process to decrease churn? While phone-based verification is a great starting point for onboarding authentication, TeleSign offers more robust solutions beyond standard 2FA that ensure a safe experience for all of your users. This guide will teach you the ways that businesses can leverage digital identity for a secure onboarding process that will protect your platform from many types of fraud.
Onboarding is the process of bringing a user onto your platform. This includes creating their credentials (user name/password) as well as acquiring information about that person to enhance their customer experience. At this point, it is paramount to verify a user's identity through two-factor authentication to make sure that they are indeed real. Otherwise, this account could be a bot, mass created to cause problems on your platform. However, this is only the tip of the iceberg.VOIP and online numbers, for example can be used to verify accounts. So too can bulk numbers, burner phone numbers and recently recycled numbers. These numbers are often associated with fake or fraudulent accounts and the best way to prevent them from causing havoc for your business, is to stop them at onboarding with digital identity.
TeleSign uses digital identity at onboarding not only to stop fraud at registration, but to prevent it later down the line. As an example of how we do this, let's look at promo abuse. Promo abuse, trial exploitation and referral abuse happen when a user tries to game the system for their own benefit. One way to do this is cycling through phone numbers to bypass paying for a service or even worse, opening fake accounts for a cash benefit.By using a TeleSign digital identity solution, we can look at the metadata behind a phone number and make a recommendation on whether to let that user onto your platform. Those that practice promo abuse are often using phone numbers acquired through dubious methods. Fraudsters do this because some of these numbers are harder to track, but not for TeleSign. By thoroughly vetting this user at registration, the future promo abuse never happens.
Perhaps your application deals with risk assessment in the form of micro-loans, TeleSign can use the same digital identity technology to determine if a new user is worthy of that loan just by looking at their phone number. Maybe you find know your customer (KYC) information about your users extremely valuable. We can leverage digital identity to deliver valuable data directly into your hands. Do you need to do an age check for alcohol delivery? We can help with that. Maybe your service is only available in certain locations. TeleSign can tell you where that user's phone number is registered. With TeleSign's digital identity solutions all of this information can be available to you at the beginning of the customer journey; onboarding. If you want to know more about the capabilities of digital identity, our experts would love to chat with you.TeleSign has been connecting and protecting online experiences for over 15 years. We support 21 of the 25 largest web properties in the world and we're prepared to help you. Contact TeleSign now and learn more about how to keep your platform safe.