Trust Swiftly, an identity verification company, has launched its “Trust Swiftly” identity verification system featuring 15 different methods of authentication, the company said in a press release.
Patrick Scanlan, Trust Swiftly co-founder and CEO, highlighted the importance or using fraud patterns to identify fraudulent actors. This is the standard method used to verify card not present orders, but according to the comapny this is the first time 15 different factors will be used to verify identities.
“As our capabilities increase in delivering goods and services online, so does the expertise of fraudulent actors looking to infiltrate businesses,” he sad. “Not only have fraud actors become more sophisticated, but they continue to advance. Our machine learning system tracks hundreds of distinct attributes from each verification and can identify the fraudulent patterns automatically and in turn prevent declines and loss growth due to fraud.”
The verification methods offered include phone SMS ownership, credit card ownership, ID ownership, selfie liveness, document ownership, and geolocation. In addition, the company will offer pay-as-you-go pricing, as opposed to the traditional contract method used by the majority of companies in the ecommerce and card not present fraud industry.