Account-creation fraud can lead to costly losses and regulatory penalties. With identity fraud rising 81% from 2019-2021 per TransUnion, new account fraud is a growing threat that requires accurate customer identification.
New customers who face too many onboarding hurdles may simply give up and go elsewhere. 61% of consumers have abandoned transactions because of “authentication frustration,” according to the CMO Council.
Verifying new customers’ identities requires insight into their histories, activities, and behavior online. Deduce delivers, with Real-Time Behavioral Intelligence at Scale that only MAAMA companies — Meta, Alphabet, Amazon, Microsoft, and Apple — once had.
In this IDV Solution Brief, you’ll learn:
- How to prevent account creation fraud and reduce onboarding friction for good users.
- How to quickly enhance your fraud defense with an API-based risk and trust engine.
- How to reduce manual review costs and accelerate account creation for good users.
See how the award-winning Deduce Identity Insights solution can resolve your security-CX dilemma, so you can onboard more new customers and earn more revenue.
Deduce sees 89% of new and returning customers before they arrive at your website or app— 43% within just hours—to incrementally capture more fraud, streamline new account opening, and improve order approval rates for legitimate customers. Deduce has built the largest online Identity Graph for cyber risk and fraud, continuously capturing activity data on more than 660M profiles engaged in more than 1.5B daily interactions across more than 150K websites and apps—a scale unmatched in the market.
Deduce earned the #1 spot in Security among Fast Company’s World’s 50 Most Innovative Companies 2022. As the most awarded company in identity security, Deduce’s other recent honors include the 2022 CISO Choice Award for Fraud Prevention, Cyber Defense Magazine’s 2022 Global Infosec Awards, and the 2021 Edison Awards. Learn more at deduce.com.