Identity verification firm iDenfy has unveiled an enhanced version of a phone verification product.
The company claims the product is a means to mitigate the risk of fraud, a particular concern now that digital services and remote operations are seen as the new normal.
Following an API call, iDenfy is able to provide crucial information to assess the risk associated with the phone number before recommending any further actions. The data presented to the user includes customer location, current network, roaming country, validity, availability and phone contract details.
Businesses are able to employ iDenfy’s phone verification tool to double-check their customers by sending them a one-time password or ‘text to speech’ message. This means the product can be used as a fraud prevention tool as well as as part of a secure onboarding process.
iDenfy CEO Domantas Ciulde said, “Our product analyses the phone number provided and assess the risk associated with it. “It’s a flexible tool, as companies can decide for themselves what to do with the information they receive.”
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Copyright © 2018 RegTech Analyst