Fourthline partners with Wish for better digital identity verification in the EU
E-commerce platform Wish is partnering with digital identity and verification specialist Fourthline to improve customer due diligence and identity verification for European sellers.
The move should also streamline the shopping experience for customers buying via the Wish platform, one of the largest e-commerce providers in the world.
Fourthline reports 99.97 percent accuracy in detecting fraud for clients such as banks including N26, stock broker Degiro and commerce platforms such as bol.com. Its data reveal that 53 percent of all 2020 fraud attempts intercepted by Fourthline point to cases of digital identity fraud where the fraudster attempts to open an account using an official, government-issued ID.
A Fourthline report published earlier this year indicated France has a particularly high rate of ID document fraud relative to other European nations, which requires digital identity verification to address as no online system currently exists for checking the validity of French identity documents.
Krik Gunning, co-founder and CEO of Amsterdam-based Fourthline said: “As one of the largest mobile commerce platforms, Wish recognises the crucial role that technology and data science play in both the customer experience and identity verification. We’re proud to be working with Wish as it transforms the way people discover and shop online.”
Fourthline reported 185 percent revenue growth for 2021 Q2 compared to the same period a year ago as it signed up major clients.