Toronto-based EnStream has enhanced its portfolio of identity verification and device authentication services.
The RegTech said the new services include enhanced analytics for name and address matching, mobile device authentication and mobile location services. It now claims to cover over 90% of the Canadian market, without requiring any pre-loaded software on mobile devices.
“Validating identity is perhaps one of the biggest challenges on the Internet today, especially with the move to mobile,” said Robert Blumenthal, chief identity officer at EnStream. “Unlike other threat detection systems, real-time information about mobile subscribers and their devices provides reliable and definitive information to improve the user experience while mitigating risk and fraud.”
EnStream is a joint venture of Canada’s leading mobile telecom companies – Bell Mobility, Rogers Communications and TELUS Communication. Its services are used today by a wide variety of customers and applications with end-user consent, including: banking and financial services, retail and payments, instant credit card issuance and account opening, lotteries and gaming, roadside assistance, transportation & logistics.
In the financial services and banking sector, its services are used as an independent data source for Anti-Money Laundering (AML) compliance, as well as device and contact number verification.
According to the company, credit bureau data alone is increasingly insufficient to meet AML requirements for KYC (Know Your Customer) and mobile subscriber information is a legitimate independent and reliable data source for identity verification for AML compliance purposes. Along with mobile number verification, EnStream claims its services can help validate a customer is who they claim to be, helping to reduce identity fraud and account takeover.
EnStream’s services help reduce account takeover and fraud risks using mobile device information as a ‘seamless, silent’ second factor for authentication. It uses real-time network-based information and secure header enrichment to verify mobile number, device, and account status, including any changes to device or SIM cards. The company claims tis device authentication is more reliable and more convenient SMS One-time Passcodes as an out-of-band method for authentication, with its secure tokens providing user authentication on-net (cellular) and off-net (wifi).
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
