Customer Profiling: Should you Verify Business Contacts Through Calls?
Wikipedia says Identity verification service is used by businesses to ensure that users or customers provide information that is associated with the identity of a real person.The service may verify the authenticity of physical identity documents such as a driver’s license or passport, called documentary verification, or may verify identity information against authoritative sources such as a credit bureau or government data, called non-documentary verification.
In customer profiling and other campaign types as well, identity verification is as important as the air we breathe – when it’s contaminated with pollutants it can harm a person’s health and may even cause death. Pardon my morbidity, but yes, your business will eventually die when all the data you’re dealing with are fraudulent.
Trulioo, the leading global ID verification company emphasized the importance of identity proof in the emrging markets due to identity theft by internet hackers. Look how clever these criminals are – as technology in business progresses, their felonious tactics have become just as competitive.
Marketing strategists have come up with ways to do business contacts verification strategies like verification softwares. One example is Precise IDSM for Compliance by Experian ), an identity verification software that allows clients to make fast, flexible decisions when acquiring new customers while also managing fraud and compliance processes throughout the Customer Life Cycle.
While mutual company StateFarm uses Knowledge Based Authentication (KBA) as part of their customer verification process. Verification questions are generated randomly during each customer interaction, making it impossible to determine which questions will be presented in a quiz. The provider pulls answers for the verification questions from a wide variety of customer information databases, but not from State Farm customers’ personal information.