Most people are spending time right now focusing on potential symptoms. We’ve been told that a dry cough, shortness of breath or a fever can be indicative of a devastating Covid-19 diagnosis, something we are all trying to avoid. At the same time, cybersecurity experts and the FBI are telling us to be mindful of scams related to Covid, weaponizing our fear and uncertainty against us. As we continue to first make sure our friends, family and community members stay safe, it is important for us to remember to keep our digital stakeholders protected as well. The economic harm inflicted by fraud can be destructive for families and individuals. Fortunately, we can put measures in place to prevent it.
In a way, fraud behaves surprisingly like a virus. Most of it is preventable, but once it strikes, the outcome can be devastating,
If we expand on this metaphor further, let’s think of your platform as the human body. The human body has an immune system and other small boundaries in place to prevent infection. Your nose, ears, mouth act as safeguards, put in place to protect against the various maladies that exist in the oxygen we breathe. Wearing a mask and social distancing are further protective measures. As such, most platforms contain security measures, but sometimes those barriers aren’t enough. Sometimes we require a layer of preventative medicine.
And that preventative medicine is called…
While registration is a popular use case; identity products can really be used at any point during the customer life cycle. If a fraudster gains control of a phone number post-registration, timely identity products can prevent account takeover, thus stopping fraudulent purchases on your platform by triggering additional security measures. This can save you many metaphorical (and actual) headaches.
Digital identity pertains to a number of data attributes that can be configured to fit your specific needs. Just like there are many strains of the flu, there are many ways a fraudster will attempt to game your system. Whether they be keen on fake registrations or even account takeover, identity solutions from TeleSign can bolster the health of your entire ecosystem.
TeleSign features an entire suite of digital identity products designed to keep your platform safe for you and your users. How does it do it? By preventing fraud from the very beginning, at registration.
TeleSign’s identity solutions answer critical questions about users by looking at various factors (such as phone number, IP address, e-mail, etc) to gain data intelligence about their device, contact information, account history and more. This identity intelligence helps to strengthen and validate the user verification process, reduce fake accounts, improve risk models and help to quell fraud. Just like a flu shot prevents you from becoming sick, TeleSign’s digital identity solutions keeps your platform safe.
What’s better is that identity products don’t merely detect fraud and prevent account takeover, they can also be configured to increase sign-up conversions by reducing friction in the registration process. This case study might be a handy resource for a company looking to increase customer conversions (to 92%) by delivering a seamless onboarding process.
TeleSign has been connecting and protecting online experiences for over 15 years. We support the largest web properties in the world and we’re prepared to help you. Contact TeleSign now and learn how wherever you are on the customer lifecycle journey, digital identity products are just what the doctor ordered.