Advanced Fraud Prevention Across Industries
Enterprise-scale solutions help regulated businesses comply with requirements
Financial Institutions
Financial businesses must prevent financial loss due to fraud, and preserve consumer trust. Zumigo solutions leverage real-time, authoritative sources to accurately authenticate digital identities and assess the risks of transactions based on a broad range of signals. Banks, fintechs, and insurance companies can protect their consumers along the entire digital journey without adding friction to the experience:
For Know Your Consumer (KYC) compliance, consumers are verified based on personal info including physical address,…
Financial Institutions
Financial businesses must prevent financial loss due to fraud, and preserve consumer trust. Zumigo solutions leverage real-time, authoritative sources to accurately authenticate digital identities and assess the risks of transactions based on a broad range of signals. Banks, fintechs, and insurance companies can protect their consumers along the entire digital journey without adding friction to the experience:
For Know Your Consumer (KYC) compliance, consumers are verified based on personal info including physical address, email address, and date of birth; risk factors of the mobile phone account and device including recent activities such as porting, SIM card changes, call forwarding, and any account changes; ownership and tenure of the accounts and devices; and validity of financial and payment accounts.
- Assess business entity identity risks: Zumigo can discover as part of Know Your Business (KYB) process if companies have sanctions or enforcements imposed upon them and may be susceptible to bribery and corruption, plus business information across the following categories: identity; UBO and principal identity; financial data; and state licensing.
- Extract mobile number for verification: Passively verifies the mobile phone number to validate consumer’s identity when visiting an app or website during sign-in or sign-up process on their mobile phone. The phone number can also be confirmed via one-time passcode when required.
- Enable multi-factor authentication: Send one-time passcodes via SMS link or voice for passwordless log-in to account holders for additional security and authentication in the case of risky transactions. Zumigo can return a unique, easy-to-follow code made up of letters and numbers.
- Comply with AML screening requirements: To reduce the risk of financial crimes and comply with regulations, financial institutions can add an additional step after KYC and KYB verification to screen new and existing consumers and businesses against the following classifications: the Specially Designated Nationals and Blocked Persons (SDN) list from the U.S. Department of the Treasury; Politically Exposed Persons (PEPs) lists, maintained at a regional and country level; adverse media or negative news; and civil and criminal public records.
e-Commerce
In the ever-evolving landscape of e-commerce, bad actors are always on the lookout for vulnerabilities to exploit. Zumigo solution helps merchants reduce chargebacks, recover lost revenue, and maintain a seamless customer experience by leverage digital identity verification and payment card validation. Zumigo e-commerce solution comprise two products:
- Zumigo InstaAuth ensures rapid, reliable user authentication
- Zumigo OrderRisk evaluates transaction risks in real time.
Install Zumigo OrderRisk on Shopify and BigCommerce
e-Commerce
In the ever-evolving landscape of e-commerce, bad actors are always on the lookout for vulnerabilities to exploit. Zumigo solution helps merchants reduce chargebacks, recover lost revenue, and maintain a seamless customer experience by leverage digital identity verification and payment card validation. Zumigo e-commerce solution comprise two products:
- Zumigo InstaAuth ensures rapid, reliable user authentication
- Zumigo OrderRisk evaluates transaction risks in real time.
Install Zumigo OrderRisk on Shopify and BigCommerce
Install Zumigo InstaAuth on Shopify
Zumigo InstaAuth
- Authenticate shoppers using Silent Network Authentication (SNA), or one-time passcode (OTP) via SMS or email
- Offer shoppers a passwordless login option and increase conversion rates
Read the Zumigo InstaAuth solution brief
Zumigo OrderRisk:
- Verify orders by using SMS verification for textable number and voice call for landline to confirm phone possession
- Validate the name and address associated with the phone number and payment instrument; IP address of the customer’s browser client; email address validity; and geodesic distances between billing address, shipping address and customer IP address.
- Provide trust scores based on the above for each transaction so that a merchant can choose to fulfill only the low-risk transactions.
- Convenient dashboard to review transactions and sign-ups, and gain insights into shopper login activities and devices they used so that merchants can personalize experiences and optimize security
- See how the purchase orders are performing at a glance: number of total transactions, high risk orders, high risk customers, fraud orders processed and related value; type of merchandise that is high risk; and location/origins of risky transactions. Drill into each transaction for more information.
Online Gaming and Social Media
Many global and state compliance regulations have been enacted to enforce restrictions for digital accounts and services that have age limits. Some examples include controlling the age of users on social media accounts, adult content, or online games. Businesses are required to verify the consumer’s age before completing the transaction or the account sign-up process.
Zumigo’s solution checks the age of a consumer before allowing them to proceed to the…
Online Gaming and Social Media
Many global and state compliance regulations have been enacted to enforce restrictions for digital accounts and services that have age limits. Some examples include controlling the age of users on social media accounts, adult content, or online games. Businesses are required to verify the consumer’s age before completing the transaction or the account sign-up process.
Zumigo’s solution checks the age of a consumer before allowing them to proceed to the next step. After the consumer submits the verified mobile phone number, name, and address, the business sends the information to Zumigo, together with the age limit rule required for the digital service.
Depending on the age limitation in years, Zumigo calculates and returns a True or False value. If True, the age limitation is verified, which means the transaction or sign-up process can proceed. If False, the transaction or sign-up process will be rerouted to the next step such as manual review or termination, as determined by the business.
The solution provides instant results that are highly accurate with low consumer friction, and addresses privacy concerns. With Zumigo, businesses can safely and quickly verify the consumer’s age to protect minors and the elderly, and comply with regulations.