Applied Recognition and Intellicheck Identity Authentication Join Forces to Curb Identity Fraud and Boost Fraud Prevention

Applied Recognition and Intellicheck have formed a new partnership to advance digital identity authentication. The two companies will incorporate one another’s technology into each partner’s respective product offerings, combining barcoded identity authentication with facial recognition. The combined, comprehensive technology solutions will heighten identity theft protection, curbing fraudsters ability to perpetrate retail and financial fraud.

This is an important development for loss prevention professionals. Why? The answer lies in the data. Every 88 seconds somebody’s identity is stolen. Losses associated with identity fraud amounted to $16.8 billion last year. With the surge in incidents of identity fraud and data breaches expected to continue in 2019, the risk to retail remains critical. Retailers of every size stand to face a continued rise in costs and losses. Fraudsters continue to profit at your expense from using fraudulently obtained personally identifiable information to open store accounts, obtain credit cards and take over accounts.

Intellicheck CEO Bryan Lewis summed up what this new partnership means. “Our combined technology solutions provide robust fraud protection at a critical juncture. The ongoing rise in data breaches that have compromised the personal identification information of millions of individuals have led to a dramatic increase in identity theft and fraud. In an increasingly mobile and online world, to protect the consumer you must first establish that they have a valid form of government issued ID and then confirm that the consumer is in control of that ID. This new partnership offers a much-needed dynamic solution that achieves both of these requirements in a manner that is at once both potent and seamless for the consumer,” said Lewis.

The combined technology solutions also take into account another critical reality for retailers. Ultimately, it’s all about the customer. Retailers will appreciate that consumers will experience a frictionless, engaging, user experience. The fraud prevention solutions will feature the user capturing the front and rear image of a barcoded photo ID and then a selfie, both taken using a mobile device’s camera. The submitted information will be rapidly analyzed bringing barcode authentication, optical character recognition (OCR) validation and scoring, together with a face-recognition-powered comparison of the selfie to the ID’s photo. Together, these tests quickly ensure a valid identity authentication.

Customers will welcome your efforts to protect their personal information. A recent study found 58% of consumers are willing to accept any security measures needed to eradicate fraud, while nearly three quarters (71%) are open to the introduction of more secure payment processes. And failing to do so can add to your losses. The recent data surrounding online purchases alone tells the story. A recent survey found that 49% of customers reported that they do not return to an online retailer after a fraud incident has taken place. Not only do you shoulder the cost of the fraud, but you lose customers.

What can you do, today? Technology solutions are available right now that are proven fraud fighters. Intellicheck’s Retail ID SaaS technology solutions are budget-friendly, powerful fraud deterrents that prevent online, mobile or POS fraudulent retail purchases, while providing a more engaging customer experience with a comfortable, quick process that boosts consumer confidence.

With e-commerce and card not present purchasing increasingly popular, protection is yours with Retail ID Online. It’s an effective budget friendly technology solution. Retail ID Online integrates with the retailer’s online purchasing website and seamlessly checks purchasers’ driver licenses for authenticity. Simple, fast and easy to adopt and use, the technology solution guides a customer to capture images of their driver license. The cutting-edge app encrypts the driver license image to stringent standards and matches the image against authentic driver license formats. Retail ID Mobile works the same way, using a smartphone to capture the driver license image. With real-time authentication, the purchase can proceed with confidence by the retailer or, if the driver license is flagged as counterfeit, the purchase process is terminated.

As a loss prevention professional, you can turn to Retail ID technology solutions no matter what type of fraud protection you need. The track record says it all. They’ve proven 99.9% effective in identity authentication, preventing transactional fraud including fraudulent account openings, account take overs, card not present fraud, gift card fraud, cash off card, and fraudulent check transactions. These state-of-the-art technology solutions are equally effective in preventing pick up in store (BOPIS) and non-receipted return fraud. Whether you’re looking for fraud protection for a Fortune 500 company or a neighborhood shop, Retail ID technology solutions will work for you.

For more information visit www.intellicheck.com or call 516-992-1900.