While onboarding a new user onto a digital platform, you need to confirm that users are who they say they are. If the identity is not confirmed, a fraudster can easily impersonate a legitimate user or pass themselves off with a forged identity. In fact, there have been reports of up to 25% of the user base being made up of fake accounts. According to Javelin, this type of incident cost digital businesses about $56 billion back in 2020 and continues to grow.
Conventional identity verification systems add lots of friction to the onboarding process, and all users are confronted with barriers that prevent them from quickly signing up for digital services. According to Liminal research, 42% of clients abandon onboarding due to added difficulty.
Twilio's goal is to provide our customers with the ability to confidently, seamlessly, and cost-effectively validate user identity.
The mobile phone number is the key
In the modern world, the mobile phone number is a ubiquitous identifier that helps with identity verification. When compared to other authoritative sources, the phone number not only serves as a contact method for businesses to reach out to their users, but it also has the capacity to provide information about the users' identity. With this in mind, we've developed a new Lookup feature that can rapidly confirm identity and reduce the chance of fake account creation while also improving the onboarding experience for the user.
Introducing Lookup Identity Match
Lookup Identity Match accurately confirms the user identity linked with a given phone number by matching user-provided data against authoritative sources in a seamless and cost-effective way. It is secure, seamless, and does not require users to upload official documents such as passports or proof of address.
How Lookup Identity Match works
Lookup Identity Match uses real-time confirmation of user-supplied data such as name, last name, and address among others during account registration against authoritative sources. It provides matching scores for each element where the businesses can prevent user registrations that demonstrate poor scores for specific data elements relevant to their use case. All of this while respecting personal identifiable information.
During onboarding, Identity Match also builds a strong relationship with the end user who owns a particular mobile phone number, allowing businesses to use the same mobile phone number for two factor authentication possession checks (using Twilio Verify) in all account transactions (Logins, account updates, transactions)
Who can use it
Lookup Identity Match is designed for any consumer-facing business that needs to securely confirm the identity of its customers or users and simplify the onboarding experience.
How it helps businesses
Lookup Identity Match increases security in your onboarding flow without disrupting the user experience. For example, a social network app was plagued by fraudsters who flooded the platform with troll accounts, eroding trust. They implemented Identity Match, which lowered registration time by 98% with a 50% cost savings and reduced fraudulent activity to zero.
Because it takes less time to activate a new user, users are less likely to become distracted or frustrated and abandon the process. It also means that users will spend more time on your app or platform. Click here to learn more about
Sebastian Del Aguila is a Product Marketing Specialist at Twilio. Prior to joining Twilio, Sebastian worked as a product marketer at Boku Identity and Rimac Seguros where he played a key role in promoting and driving the success of the company’s products and services. In his free time, Sebastian is an avid football player and foodie.