IDology: How to VERIFY Your eCommerce Customers Without Compromising SECURITY or CONVENIENCE - Heidi Hunter, Chief Product Officer

In episode 83, I speak to Heidi Hunter, Chief Product Officer at IDology, about how their platform helps businesses to create frictionless and secure eCommerce customer experiences.

We discuss how the platform provides many features including dynamic Knowledge-based Authentication, Transaction Monitoring, document authentication, biometric verification and many others to streamline checkout processes, increase conversions and prevent fraud. We also discuss the challenges and opportunities of digital identity verification in the eCommerce industry, and how IDology adapts to changing regulations and customer expectations.

VIDEO and PDF Transcript:
 - click here https://thepaymentsshow.substack.com/p/83

Summary of topics discussed:
(01:02) - IDology Overview: Identity Verification and Fraud Management
(02:29) - Statistics on Business Fraud and Data Breaches
(03:32) - Exploring the Sophistication of Fraud Attacks
(04:51) - The Role of Technology in Fraud Prevention
(05:17) - Impact of COVID-19 on Digitization and Fraud
(06:15) - The Importance of Data Collection in Fraud Prevention
(06:59) - Challenges in Asserting Ownership of Data
(08:58) - The Importance of a Smooth Onboarding Process
(11:18) - Synthetic Identity Fraud
(12:40) - Data Depth vs Richness
(15:04) - Differentiating Factors of Ideology's Solutions
(17:35) - eDNA: Data Collection Across Industries & Markets
(18:49) - Money Moves: Find It Faster
(21:27) - Layering Data: Data Breaches & The Dark Web
(22:53) - Industry Consortium Fraud Network & Cross Border Verification
(30:08) - Fraud Trends: Surge in Fraudulent Domains
(32:44) - The Investment Fraudsters Make in Synthetic Identity Profiles
(33:23) - The Surge in Voice Over IPs
(33:52) - Efficiency of Fraudulent Submissions
(34:10) - Regulation and Legislation Around Money Transfers
(34:48) - The Challenge of Differentiating Fraudulent P2P Transfers
(36:44) - Predictions & The Future
(37:19) - Business Verification Is Increasingly Important
(38:26) - The Impact of OpenAI on Fraud
(41:45) - Know Your Business (KYB) Verification
(49:09) - Get in Touch with IDology

Details:
- Recorded on 15 Nov 2023
- Host: Satwant Phull
- Guest: Heidi Hunter, Chief Product Officer, IDology

[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- IDology: idology.com | @idology