TNS unveils telco-based verification system

Source: TNS

Transaction Network Services (TNS) has added to its innovative product suite through the launch of TNSVerify, a ground-breaking solution that utilizes newly available telecommunications data to help reduce risk and fraud in the US payments and financial services industries.

Professionals managing fraud, risk, and compliance challenges for brick-and-mortar and online companies, can benefit from unique telecommunication data insight and capabilities in a single solution thanks to TNSVerify.

TNS has partnered with leading mobile and landline telecommunications providers who together, recognize the inherent problems and risks associated with establishing identity in response to the defective grey market phone subscription data currently serving the identity verification market.

TNSVerify enables the establishment of phone identities using carrier-sourced subscription data from telecommunications providers. With this information fraud and risk experts can make quick decisions using mobile, landline, cable and VoIP phone information to more accurately assess risk and handle transactions reliably and efficiently.

"Previously, verifying and identifying customers based on their telecommunication data was challenging for non-telecommunication businesses", said Surendra Saboo, CEO of TNS' Telecoms Division. "The consumer trend of migrating from publicly-listed landline phone numbers to mobile, pre-paid and VoIP services increases the difficulty of identifying a consumer in risk assessment and fraud mitigation strategies because many of the consumers have non-public, unlisted phone numbers."

A verified-by-telco solution, developed in partnership with and sanctioned by telecommunications service providers, TNSVerify yields unmatched coverage in the fast growing, yet not publicly listed, wireless, prepaid and internet VoIP telephone segments without violating the privacy of subscribers. TNSVerify upholds the privacy of personally identifiable telecommunication subscriber data and complies with US privacy laws through a scoring approach that enables businesses to easily check the authenticity of their customer asserted information. The asserted identity is scored directly against the subscriber records of the telecommunication carriers.

Backed by a fully PCI-compliant global network that delivers 15 billion payment transactions a year, TNSVerify boasts the highest security levels. TNS can reference accurate and current information through its extensive relationships with over 1,100 telecommunications companies, including many of the US' largest mobile, VoIP, cable and landline telephone service providers.

TNSVerify is part of a comprehensive range of services TNS has developed for merchants and the financial services industry. The solution leverages TNS' global reputation and unique strengths in the payments industry, where it securely delivers transactions for over a million merchants and retailer locations to the world's leading banks, acquirers and processors.

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