IDology enhances ExpectID with Loqate address verification intelligence
Address verification data empowers customers to increase visibility and detect suspicious transactions, enhancing logistics and operations by reducing the number of failed deliveries and associated costs.
“The delivery and integration of this critical data feed capitalizes on the synergy among businesses within the GBG family and will provide customers with powerful, full-spectrum visibility to facilitate trust and quickly authenticate identities of their customers to propel business forward,” said John Dancu, CEO of IDology.
“This also demonstrates our continued commitment to innovate and advance our platform, helping customers deter fraud and approve more legitimate customers faster without friction. The differentiated value from this addition is an even better, faster end-user experience, providing potential cost savings from chargebacks and call center costs related to non-deliverable addresses.”
Some 80 percent of businesses assert accurate address validation is “extremely or very important,” states IDolgy’s 7th Annual Fraud Report. Research found companies deploying Loqate’s technology had a 70 percent decrease in address errors, reads the press release.
“Layering strong location intelligence data with a comprehensive mix of identity attributes is becoming increasingly important for companies across the globe to successfully onboard new customers, identify fraud and reduce costs,” said Shirley Inscoe, senior analyst at Aite Group.
Other research from IDology found that interest in advanced online identity verification methods has spiked to over 70 percent in the US.
IDology received the “2019 Company of the Year” award from One World Identity and was purchased by GBG in February 2019.