Callcredit and miiCard announce a strategic relationship to provide the UK's first true consumer focused identity verification service, combining robust credit bureau verification checks and strong impersonation protection which will change the way financial products are sold on-line.
The need to validate and verify identity without causing unnecessary intrusion on genuine customers is becoming ever more vital in the way we conduct business. Combining the need to meet regulatory requirements, reduce operational costs and stop fraud whilst providing a good customer experience is key to the success of many businesses trading on-line.
The combined capability of Callcredit's award winning data based electronic verification solutions combined with miiCard's anti impersonation technology will provide an unrivalled level of protection and convenience for consumers and companies wanting to do business with each other.
Blending the identity validation and authentication services of miiCard with the consumer data and identity verification services of Callcredit will create a new kind of online identity service that not only provides convenience for the consumer but cost savings, fraud protection and increased conversions for the industry.
James Varga, Chief Executive of miiCard commented "In a digital economy where there is an 70% to 90% drop out rate when selling financial products on-line as soon as the process goes offline, removing the drivers licence, passport and utility bill checks is critical. Creating this level of trust online will not only change the face of financial services but anywhere you need to know who you're dealing with."
Graham Lund, Managing Director of Callcredit commented "Callcredit is already a recognised leader in provision of identity verification and fraud prevention solutions. We have been working closely with miiCard to solve the problem of paperless straight through processing without compromising compliance with regulations, fraud rates and customer journey. The combined service provides a new consumer focused solution to address the problem by combining latest cutting edge technology with the widest range of robust data sources. Today represents a shift in the way consumers and companies will view identity verification in the future."