FICO® Falcon® Identity Proofing

Identity proofing that prevents fraud, helps you meet KYC obligations, and provides customers with a great digital experience.

Visit the Community

Overview

Identity validation and verification that proves customers’ identities

FICO® Falcon® Identity Proofing offers state-of-the-art facial recognition, liveness detection, document capture, hologram detection, and real-time corroboration to help you take a balanced approach to security and customer experience. Validate identity documents, verify that they belong to account applicants, and enroll trusted identities for future authentication with FICO® Falcon® Authentication Suite.

See FICO Falcon Identity Proofing in action

Customer experience is enhanced for new applicants with fast and easy identity proofing.

Fraud checks that prevent excellent customer experience result in lost customers

Financial institutions must balance fraud prevention and regulatory compliance with customer experience. So, what happens if they get this balance wrong as they are onboarding new customers? FICO commissioned independent studies with both financial institutions and their customers — could their answers help inform your identity proofing strategies?

64

%

Percentage of banks that force customers opening accounts digitally to use separate channels to prove their identity.

25

%

Percentage of people that would give up on opening an account or go to a competitor if asked to act in another channel.

69

%

Percentage of Americans who expect to be able to prove their identity using digital channels when opening an account.

44

%

Percentage of banks that say prevented sales due to validating identity is a top pain point.

Identity proofing that validates and verifies customers identities

Onboarding customers requires you to know who they are, confirm their details, and open their accounts without putting unnecessary barriers in the way.

Check documents have the appropriate format and data. Cross-reference data within text, machine-readable zones and on chips to uncover anomalies and detect holograms appropriate to that document are present to uncover evidence of tampering.

Make scanning their documents and faces quick and easy for customers and customize the application journey to your brand.

Seamlessly enroll facial biometric taken at application into the FICO Falcon Authentication Suite ready for future account logins and other transactions. Add additional factors such as voice biometrics and bind them to the customer’s identity.

Machine learning algorithms compare the applicant via their mobile phone image to the photograph in the identity document they present.

Use Machine learning algorithms or ask applicant to carry out instructions to determine they are there in-person rather than being spoofed by a fraudster using a photo or film clip.

Optical character recognition extracts data from the text, machine readable zone and chips on documents to prefill applications forms, making it easier for customers to complete them, streamlining KYC, and reducing error.

Fraud Protection and Compliance

From the Blog

Get the latest insights, solutions, and strategies for improving business results from the FICO experts and thought leaders.

AdobeStock_110412787@2x.jpeg

April 20, 2021

Identity Proofing and Digital Account Opening – New Findings

Read more

February 16, 2021

What is the Electronic Consent Based Verification Service (eCBSV)?

Read more

December 09, 2020

5 Strategies for Fighting First-Party and Synthetic Identity Fraud

Read more

How can we help?

Would you like see how FICO Falcon Identity Proofing will help you to take on more customers easily and securely?

Contact Us