Longtime partner ID Analytics launches new solution, powered by iovation, to reduce risk and minimize customer friction.
We’re proud to report that our valued partner, ID Analytics, just announced the successful deployment of a new digital solution, called ID Connect. This offering leverages iovation as the default device component, as well as iovation’s background check, to help proven companies like DataX to implement a seamless customer acquisition process and reduce risk for online applications.
ID Analytics leverages the same technology behind iovation’s Customer Authentication and Fraud Prevention services to boost new account conversion and cut application fraud risk. And to add proof that it works, DataX is currently using the new service to streamline new account creation and reduce risk in application fraud.
Because the Customer Experience Matters
Helping businesses improve the experience for their customers while beefing up their fraud prevention capabilities is what gets us going at iovation. And when we have an opportunity to help our partners develop effective digital solutions, we don’t hesitate.
By using ID Connect, businesses have the power to increase conversion rates – allowing them to grow safely – while verifying an individual’s identity and managing against fraud risk. In other words, this is a significant new offering, and one that’s already showing marked results.
Since integrating ID Connect, DataX has seen a 25% increase in conversion through the mobile channel for applicants who passed all assessments and a 9% improvement on conversions for all applications.
By verifying an applicant’s identity during the application process, DataX’s clients were able to generate higher quality applications faster and increase revenue per application, all while safely onboarding new customers.
This is just another meaningful example of how implementing a frictionless experience for customers without sacrificing security helps businesses to effectively shorten the sales cycle and boost revenue.