Knowledge is power especially when it comes to registering a new user on your platform. In the real world, you wouldn’t let just anyone enter a secure area without some baseline knowledge. It’s commonplace to ask for an ID or a passport. The web should be no different. Just because the space is digital doesn’t mean that the people there for nefarious reasons can’t cause real damage. They can and they do, all too often. What TeleSign provides businesses is digital knowledge on their prospective users, an internet identification card if you will. We do this based on the knowledge surrounding their phone number which we deliver to companies in the form of world class Know Your Customer (KYC).
Know Your Customer Explained
Think about the information that everyone with a phone number provides (or doesn’t provide) to a carrier. Your cell phone provider knows your name, the type of device you use, your contract type among other things. TeleSign partners with telcos around the globe to bring that information to web platforms in the form of digital identity. Digital identity is essentially a user’s online footprint. When a user attempts to join a web ecosystem, TeleSign leverages a global data consortium along with data science to verify a user’s identity. We then take this information and make a risk assessment recommendation to the platform on whether or not to allow access.
TeleSign doesn’t just use mobile identity solutions at the onboarding level but at the transaction level as well, constantly helping businesses monitor behavior. Our wholistic approach to identity includes layering two-factor authentication on all transactions especially e-commerce and banking. KYC data, however, allows us to bypass multi-factor security in certain cases to prevent any friction or churn and provide a seamless experience.
KYC as a Revenue Generator
Digital identity shouldn’t be viewed purely through a security lens. Our KYC solutions enable businesses to gain a deeper understanding of their customers from an actionable global phone number and subscriber data intelligence. It’s more important than ever for online businesses to understand their customers on a deeper level to both meet their evolving expectations and achieve compliance with a growing list of privacy standards such as CCPA, GDPR and PSD2.
Knowing which channel to use to reach your customers can also lead to large revenue bursts. Data intelligence gained through TeleSign can help you understand which channel works best and whether or not you should open a new channel for communication for even larger revenue gains. By tapping into real-time behavioral, phone and user analytics, businesses can maximize the value of a customer over the entire user lifecycle.
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 we can give you actionable insights about your users for both security and to drive revenue.