IDology, a GBG company, announced today that ExpectID, the industry’s leading identity verification and anti-fraud platform, will integrate leading-class address verification intelligence from Loqate, the premier provider of global address verification and geocoding technology. Bringing together Loqate’s high-quality address verification data with ExpectID will give customers the improved ability to identify suspicious transactions faster and also provide transparent, actionable information for improving operational performance by verifying consumer addresses, reducing failed deliveries and lowering return costs from non-deliverable address information. The solution is currently in production and available to IDology customers.
“The delivery and integration of this critical data feed capitalizes on the synergy among businesses within the GBG family and will provide customers with powerful, full-spectrum visibility to facilitate trust and quickly authenticate identities of their customers to propel business forward,” said John Dancu, CEO of IDology. “This also demonstrates our continued commitment to innovate and advance our platform, helping customers deter fraud and approve more legitimate customers faster without friction. The differentiated value from this addition is an even better, faster end-user experience, providing potential cost savings from chargebacks and call center costs related to non-deliverable addresses.”
Data Reveals Importance and Effectiveness of Address Validation for Verifying Customers
IDology’s 7th Annual Fraud Report found that 80 percent of companies surveyed believe accurate address validation is “extremely or very important” to the identity verification process. According to customer data, organizations using Loqate’s technology increased efficiency of back-office systems, lowering address errors by 70 percent.
“Layering strong location intelligence data with a comprehensive mix of identity attributes is becoming increasingly important for companies across the globe to successfully onboard new customers, identify fraud and reduce costs,” said Shirley Inscoe, senior analyst at Aite Group.
IDology was recently awarded “2019 Company of the Year” by One World Identity and was acquired by UK-based GBG in February of this year.
About IDology
IDology, a GBG company, provides real-time technology solutions that verify an individual’s identity and age for anyone conducting business in a consumer-not-present environment to help drive revenue, decrease costs, prevent fraud and meet compliance regulations. Founded in 2003, IDology offers a solution-driven approach to identity verification and fraud prevention that ultimately helps increase customer acquisition and improve the customer experience. IDology has developed an innovative and on-demand technology platform that allows customers to control the entire proofing process and provides the flexibility to make configuration changes that are deployed automatically—without having to rely on internal IT resources or IDology’s customer service so businesses can stay ahead of the fraud landscape while maintaining compliance. For more information, visit www.IDology.com or call 866-520-1234.
About GBG
Through our fundamental belief that the digital economy relies on everyone having access to data they can trust, GBG enables companies and governments to fight fraud and cybercrime, to improve the customer experience and help to protect the more vulnerable people in our society.
Headquartered in the UK and with people in 18 countries, GBG has some of the world’s biggest organizations as its customers, from established brands like HSBC, Zurich Insurance, LEGO and Lufthansa, to disruptive newcomers such as Stripe and Plus500.
Find out more about how we use identity data intelligently at www.gbgplc.com or by following us on Twitter @gbgplc and visiting our newsroom: www.gbgplc.com/newsroom.
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