Melissa, a provider of contact data quality and identity verification solutions, has bought its Electronic ID Verification platform to banks.
The company claims its Electronic ID Verification (eIDV) platform can empowers banks of all sizes to reduce risk and modernise Know Your Customer (KYC) operations.
Its eIDV platform is fully compliant to all major banking regulations, and performs identity resolution with capabilities such as national ID, age, and full contact data verification, data enrichment, and watchlist screening.
The platform’s newest features include ‘fast and uniquely effective’ onboarding, based on dynamic Optical Character Recognition (OCR) and proprietary biometric facial recognition. Print information is quickly extracted to digital format, while customers are authenticated as alive and present.
Additionally, it uses powerful ‘entity matching capabilities’ to consolidate diverse data sources, which ensure the most accurate single customer view (SCV) and uncover hidden relationships in customer data according to the company.
Founded in 1985, more than 10,000 global customers including banks, credit unions, mortgage lenders, and payment providers have relied on Melissa to verify an individual’s identity, maintain data assets, and reduce risk and fraud.
Melissa’s tools enable FinTech and banking institutions to eliminate billions of dollars in losses, streamline and accelerate compliance, and exceed customer expectations for speedy transactions and simplified onboarding according to the business.
It provides identity verification and contact data quality, helping profile, cleanse, update, match and enrich People Data to prevent fraud, decrease costs, drive revenue and improve customer communications.
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