Fake user accounts, profiles or listings, are often tolerated by businesses as an inevitable aspect of operating online. Why? Because traditional identity verification adds friction to the sign-up process that puts off legitimate customers, not just the fraudsters. If this sounds familiar, it's time to think again.
In 2015, incidences of new account fraud more than doubled and now accounts for 20% of all fraud losses.
Fake accounts are not just a nuisance - they lead to increased fraud and a host of other unwanted behaviour including fake listings or reviews. If you choose not to manage this issue, you're putting your business at risk.
- It's frictionless, unlike SMS/email verification codes, sharing ID documents or filling out long forms.
- It's global and covers all demographics, even those with thin credit files or without government issued identity documents.
- It's cost-effective, significantly less than traditional identity providers and credit reference agencies.
How it works
How it works
A user signs into their social or online accounts.
Machine learning analysis
Veridu gathers and analyses the data contained in these accounts. The user's identity information is scored for credibility.
You receive this information back instantly for fast, informed onboarding decisions.