This example is an existing client and a leader in data and credit checking in Australia and New Zealand.
Recently a study was conducted of 75 of the largest financial institutions in Australia. The objective was to see how many fraudulent accounts had an incorrect phone number that had passed traditional checks. Using zVerify the results were shocking, more than 45% of the accounts would have been highlighted as possible fraud due to zVerify detecting incorrect information. There is no comparable product globally and it highlights just how far technology has advanced.
Other products are also being used to interact with the customer such as SMS, voice PIN codes and voice interaction. Having the ability to get further verification via automated solutions has had an immediate impact on this business and its clients. They now have more tools to profile borrowers, detect early fraud and the ability to refuse applicants that had previously slipped through the traditional checkpoints.