Amount streamlined new user onboarding and digital identity verification for financial institutions with TeleSign's help
Amount is a leading financial technology provider that empowers financial institutions to accelerate their digital transformation. Amount's sophisticated product suite enables banks to go digital in a matter of months - not years. Fintech businesses are challenged with finding the right technology tools to combat fraud and mitigate risk.
The banking industry has gradually shifted away from the brick-and-mortar, branch-centric model. It is crucial for banks to digitize their operations to enable customers to transact on the go - anytime, anywhere. Many financial institutions are looking to create frictionless front-end user experiences, but these efforts may leave gaps in protecting consumer information.
To create an ecosystem with layers of security and protection, Amount has integrated several data providers into its tech stack to aid banks’ verification process. Using an identification process that uses digital identity signals, Amount’s partners can improve the customer experience for the best customers while decreasing the impact of fraud on the financial institution. TeleSign verification APIs are used to deliver identity intelligence based on phone numbers, traffic patterns, machine learning, and global data consortium.