For most e-commerce applications, security is not an option, but a requirement. Identity authentication provides a higher level of protection to firms dealing in secure information. Banks Mortgage agencies Brokerages Investment firms Bank card issuers To stay ahead of their competitors, banks and other financial institutions need to offer their entire range of services on-line, including: account access, transfer of funds, bill payment, loans, lines of credit, mortgages, investments and asset control. On-line account and transaction availability introduces a new area of vulnerability in the financial world. How can easy and open financial transactions be offered to on-line consumers, while fraudulent entry is securely blocked? Password or PIN entry provides some protection, but has inherent weaknesses as access can be obtained fraudulently. Using eIDverifier™ on-line authentication as a preliminary to granting passwords reduces the risk by verifying that the person is who he claims to be. In credit decisioning applications, financial institutions frequently avail themselves of the credit assessing strength of Equifax Secure's Decision Navigator™. This potent tool in credit decisioning, however, cannot determine if the applicant is the actual credit holder, or a fraud. Adding the real-time authentication provided by eIDverifier will allow applicants to prove they are who they say they are. By providing a secure means of granting services within the run-time of the transaction, financial institutions optimise their services and increase their security. This additional protection by means of eIDverifier is a major selling point to consumers as it addresses their primary fear in on-line transactions: identity theft. New business outsourcing Downloadable information, software On-line auctions The rapid communications made possible by the Internet have greatly increased potential business applications. No longer limited to physical proximity, highly specialised firms are able to provide their specific expertise to consumers without developing the traditional support infrastructure of the past. Linking expertise to expertise through on-line outsourcing results in increased efficiency and cost-effectiveness. The immediacy of on-line purchase of downloadable software requires a high degree of certainty that the purchaser is legitimate. Downloaded goods obtained fraudulently cannot be easily traced. Authenticating the purchaser with eIDverifier™ provides the security of binding the on-line consumer with their identity. Similarly, authenticated sellers in on-line auctions increase consumer confidence in the reliability of potential transactions. Information/intellectual property Intranet Extranet Partner/Vendor communications Client account access Password protection is only as secure as the identities of the persons holding passwords. Site security can be breached and vital information compromised if passwords are issued to the wrong persons. eIDverifier allows persons to authenticate their identity before they receive a password. Secure relations management can be maintained through eIDverifier authentication of users. High-cost on-line catalogue vendors High volume on-line catalogue vendors Retailers extending credit Retailers are the principal victims of identity fraud. Vendors shipping goods in response to card-not-present transactions have little chance of recovering their losses if the charges are fraudulent. Using eIDverifier™ authentication prior to opening an account or issuing a store card will aid in confirming the legitimacy of the applicant. In certain circumstances, such as when charges are unusual, or extremely large, authentication can be used to confirm the cardholder as the account holder. Deregulation expansion Recent deregulation and industry changes have opened up greatly broadened markets for utilities and wireless communications. Working from an expanded customer and geographic base presents new challenges in secure communication and account establishment and handling. Labour-intensive account management results in missed opportunities and lost revenue. eIDverifier™ can optimise your transactions by authenticating users in an on-line, run-time application. ©2000 Equifax Secure. All Rights Reserved. Banking/financial services eBusiness/digital enterprise Password insurance and consumer privacy protection Retail Utilities and wireless communications • Is your business struggling to verify the user on the other end of your e-commerce transactions? • Do your customers have to use a manual (time-consuming) method of verification? • Are you spending too much money verifying those individuals one by one through a back office process?