White Papers for Federal Financial Institutions Examination Council (FFIEC)

RSA Identity Verification from Verid

RSA

With the demand by customers for more real-time, self-service options, many businesses have migrated their services to remote channels such as the Internet and telephone. At the same time, businesses have reaped the benefits of remote customer interaction – reduced costs, increased efficiency and the opportunity to offer new services. Despite the advantages, remote interaction also comes with risks – most specifically, an increased risk of fraud and identity theft.

According to several industry reports, an identity is stolen every 79 seconds. In addition, the number of identity thefts reported continues to steadily grow each year. As the number and sophistication of attacks increase, customer confidence is likely to be affected. Businesses must provide strong authentication to protect customer activity in remote channels without impeding on their experience or privacy.

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