Real-World Zumigo Solutions in Action
Establish Trust and Prevent Fraud Across the Entire Digital Journey
Securely onboard a new consumer
Fraud occurs when a bad actor originates a new account using all or parts of someone else’s personally identifiable information (PII) – including information from credit cards, banks, insurance, utilities, healthcare, brokerages, or ecommerce. Because of data breaches, hacking and other scams, most PII have been leaked and are easily accessible by career criminals. Many types of fraud can pass traditional identity verification checks, including KYC. Zumigo helps businesses safely…
Securely onboard a new consumer
Fraud occurs when a bad actor originates a new account using all or parts of someone else’s personally identifiable information (PII) – including information from credit cards, banks, insurance, utilities, healthcare, brokerages, or ecommerce. Because of data breaches, hacking and other scams, most PII have been leaked and are easily accessible by career criminals. Many types of fraud can pass traditional identity verification checks, including KYC. Zumigo helps businesses safely open new accounts for the legitimate consumers by checking the following:
- Comparing the name and address provided by the user to the name and address on file with the carrier
- Return mobile account information and risk indicators including account standing, account status and tenure, and any information on deactivation, SIM changes, porting, etc.
- Risk scores to indicate whether the phone is trustworthy and protected from account takeover; and whether the associated email belongs to the consumer
- Verify other digital identity variables, including AML compliance, bank account, age, etc.
Improve conversion rate with pre-fill forms
Filling out personal information on a mobile phone with small virtual keys is a high friction, high frustration experience for users. To speed up the account origination or checkout process, auto form fill and express mobile checkout automatically populate mobile forms with the verified personal information, thus increasing the rate of conversion, speed of checkout, and consumer satisfaction.
Zumigo passively verifies the mobile number from the device, and upon…
Improve conversion rate with pre-fill forms
Filling out personal information on a mobile phone with small virtual keys is a high friction, high frustration experience for users. To speed up the account origination or checkout process, auto form fill and express mobile checkout automatically populate mobile forms with the verified personal information, thus increasing the rate of conversion, speed of checkout, and consumer satisfaction.
Zumigo passively verifies the mobile number from the device, and upon verification, auto-populates additional information from the carrier such as the name and address on file. In the case of express mobile checkout, the credit card information can also be retrieved based on consumer’s choice of payment method.
Comply with KYC
Financial institutions and other regulated entities must follow compliance requirements to verify the identity of their clients as part of the Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) efforts worldwide. The components include verifying the basic identifying information of every new customer; understanding the customer risk profile; and continuously monitoring customer accounts and transactions for suspicious activities.
Zumigo provides the verification and authentication solutions to verify customer profile via:
- Matching personally…
Comply with KYC
Financial institutions and other regulated entities must follow compliance requirements to verify the identity of their clients as part of the Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) efforts worldwide. The components include verifying the basic identifying information of every new customer; understanding the customer risk profile; and continuously monitoring customer accounts and transactions for suspicious activities.
Zumigo provides the verification and authentication solutions to verify customer profile via:
- Matching personally identifiable information (PII) such as name and address, mobile phone number, driver’s license, etc.
- Screening against required local, regional and governmental information sources including the Specially Designated Nationals and Blocked Persons (SDN) list, maintained by the Office of Foreign Assets Control under the U.S. Department of the Treasury; Politically Exposed Persons (PEPs) lists, maintained at a regional- and country-level; adverse media or negative news available publicly; and civil and criminal public records
Prevent ATO fraud
ATOs happen when fraudsters use stolen credentials to gain unauthorized access to user accounts where they can harvest personally identifiable information (PII); steal credit card information, cash, and loyalty points; purchase goods and ship to a different address; and access subscriptions at no cost, like streaming services. Such unauthorized access can result in negative impacts to the businesses.
Zumigo authenticates a consumer’s mobile identity using authoritative data such as the consumer’s mobile…
Prevent ATO fraud
ATOs happen when fraudsters use stolen credentials to gain unauthorized access to user accounts where they can harvest personally identifiable information (PII); steal credit card information, cash, and loyalty points; purchase goods and ship to a different address; and access subscriptions at no cost, like streaming services. Such unauthorized access can result in negative impacts to the businesses.
Zumigo authenticates a consumer’s mobile identity using authoritative data such as the consumer’s mobile phone number, account activities, and other PII and behavioral information on file. Using real-time, definitive sources and through a layered approach, Zumigo can instantly detect fraudulent use of a consumer’s identity for unauthorized account access and purchases across digital channels such as web, mobile, and contact center.
Protect online transactions
Online purchases made with stolen payment card information cost merchants millions of dollars in chargeback expenses, operational resources and time needed to resolve disputes, and lost revenue from unretrievable products. Such card-not-present transactions are risky and easy for bad actors to take advantage of. Zumigo helps businesses reduce chargeback risk by ensuring that the credit card and mobile phone belongs to the consumer. Zumigo performs the following checks to provide trust scores…
Protect online transactions
Online purchases made with stolen payment card information cost merchants millions of dollars in chargeback expenses, operational resources and time needed to resolve disputes, and lost revenue from unretrievable products. Such card-not-present transactions are risky and easy for bad actors to take advantage of. Zumigo helps businesses reduce chargeback risk by ensuring that the credit card and mobile phone belongs to the consumer. Zumigo performs the following checks to provide trust scores on transactions to help merchants decide whether to complete fulfillment:
- Whether the name and address provided by the consumer match what’s on file with the mobile network operator, or the credit card to validate the payment method
- If the mobile phone is in a location that makes sense for the transaction
- The distance between the mobile phone’s network location and the following locations: merchant address, IP address, device (Wi-Fi SSID), or any other submitted set of geo-coordinates
- The geo-coordinates and address of the mobile phone’s network location for the business to calculate the distance between the location of the phone and other pre-determined locations
Reduce friction, streamline shopper experience
User name and passwords are still the most popular method of security and authentication of a shopper’s digital account today. But it’s unsecure, cumbersome, and expensive to maintain. Passwords create friction, frustration, and degrade experience as passwords can be lost, forgotten or impacted by breaches. Zumigo improves shopper sign-up/sign-in experience with secure passwordless access to reduce friction and increase conversion.
Using silent network authentication, Zumigo instantly verifies shopper identities using…
Reduce friction, streamline shopper experience
User name and passwords are still the most popular method of security and authentication of a shopper’s digital account today. But it’s unsecure, cumbersome, and expensive to maintain. Passwords create friction, frustration, and degrade experience as passwords can be lost, forgotten or impacted by breaches. Zumigo improves shopper sign-up/sign-in experience with secure passwordless access to reduce friction and increase conversion.
Using silent network authentication, Zumigo instantly verifies shopper identities using their mobile phone number or the installed passkey with additional, layered protection using SMS or voice OTP. Shoppers can access their accounts without entering passwords.
Additionally, Zumigo reduces friction by automatically filling customer shipping and billing information during the checkout process.
Enhance authentication security
When a password reset request is issued, or when businesses need multi-factor authentication to keep accounts safe from hacking and breaches, an additional authentication method such as phone ownership and possession verification, or device enrollment verification, can be utilized.
Zumigo can issue one-time passcodes (OTPs) by SMS link or voice to landline, or email to verify that the mobile phone number belongs to the consumer and that the device is in the…
Enhance authentication security
When a password reset request is issued, or when businesses need multi-factor authentication to keep accounts safe from hacking and breaches, an additional authentication method such as phone ownership and possession verification, or device enrollment verification, can be utilized.
Zumigo can issue one-time passcodes (OTPs) by SMS link or voice to landline, or email to verify that the mobile phone number belongs to the consumer and that the device is in the hands of the same person. Upon entering the passcode, Zumigo compares the existing customer’s name and address to the name and address on file with the carrier and returns a set of risk signal and scores. With SMS link, Zumigo can passively authenticate the mobile number in session.
Alternatively, as an additional method, Zumigo can also authenticate the consumer’s identity using passkey technology installed within an enrolled device that has been paired with the consumer’s account.
Unify signals to monitor risks
Bad actors source Personally Identifiable Information (PII) that includes a mobile phone number along with a list of passwords and websites where the passwords are registered. With this highly personal information, they script attacks to hack into as many banking, e-commerce and other types of accounts of the consumer as possible. Often, businesses do not have real-time visibility into these fraudulent attempts and are not able to take appropriate preventive…
Unify signals to monitor risks
Bad actors source Personally Identifiable Information (PII) that includes a mobile phone number along with a list of passwords and websites where the passwords are registered. With this highly personal information, they script attacks to hack into as many banking, e-commerce and other types of accounts of the consumer as possible. Often, businesses do not have real-time visibility into these fraudulent attempts and are not able to take appropriate preventive measures in a timely manner. They unintentionally allow bad actors access to consumer accounts, resulting in financial harm for the consumer and reputational harm to the business.
Zumigo leverages the intelligence gathered from mobile phone activities across a network of businesses, including banks, FinTechs, neobanks, insurers, online merchants and retailers, to determine the risk of fraud. With trust scores based on analyzing a variety of real-time factors, businesses can pre-emptively prevent ATOs and PII harvesting.