InterPass
Fight fraud at the source with identity verification
With cybercrime being a more pressing issue than ever before, it’s imperative that you protect your business from potential attacks from fraudsters. Our identity verification tool, powered by Equifax, helps you to check customers are who they say they are.
Why use verification checks?
In 2022, over £1.2 billion was stolen by cybercriminals through authorised and unauthorised fraud. This is the equivalent of over £2,300 every minute.
But what is the best way to check that customers are who they say they are without adding unnecessary obstacles during the checkout process? With Interbacs InterPass, you can quickly and conveniently check the validity of customer information without impeding checkout.
ID verification
The ID verification service gathers and provides information on the identity of a particular individual or organisation, verifying this from a few different sources.
The process runs off a 3-point check which ensures the verification is as accurate as possible.
Identity
This check uses the individual’s date of birth on the electoral roll and any credit agreements. This is also checked against landline numbers and bank data
Residency check
This check verifies a person’s address and identity using information from the electoral roll, credit data, phone and court data to ensure the individual is located at the address specified
Alerts
The system checks the validity of the individual against the deceased register, a fraud protector (SIRA), CIFA and also flags any suspicious addresses
Some details which may be used to verify the identity of the individual:
- Name (first, last name)
- Date of birth
- The first line of the address
- Postcode
- Optional bank account details
- Optional telephone number
Some details which may be used to verify the identity of the individual:
- Sort code
- Account number
- First and second name
- Date of birth
- 1st line of address
- Post code
Bank account verification
Interpass account verifier is a comprehensive and versatile tool which allows Interbacs to ensure the bank account numbers and sort codes belong to the person in question by verifying whether the person, account and address are related to each other.
Our service extends beyond that of a basic authentication tool, as we verify both name and address. This includes an examination of the individual’s address history to enhance verification.
The tool not only verifies the validity of the details but also alerts us to any fraud indicators, including the age of the account. Newer accounts typically pose a higher fraud risk than well-established accounts, so this information is invaluable.
Our service provides a clear understanding of the customer’s financial situation by incorporating information on estimated income level, credit balances and usage. This can be used at the point of application and will enable clients to perform ongoing monitoring and management of affordability on existing customer portfolios.
Affordability check
This is a bespoke service. The FCA provides guidance for responsible lending and dictates that an appropriate assessment should be taken to determine the consumer’s affordability, both at the point of application and over the lifetime of the agreement.
To begin the verification process, a credit quotation check (credit check) is run on a customer. This provides information on the income/outgoings of the customer. This information is used in an affordability assessment where the financial information of the customer is checked against a defined list of rules set out by a company. A pass or fail decision is provided with explanations where possible.
Organisations are increasingly challenged by the regulators to:
- Perform ongoing affordability assessments for customers
- Detect potentially problematic debt before the customer falls into arrears
- Identify financially vulnerable customers and seek to improve outcomes for them
- Utilise measures such as debt to income in their assessments
- Comply with the Consumer Credit Sourcebook (CONC) credit regulations
Our service provides a clear understanding of the customer’s financial situation by incorporating information on estimated income level, credit balances and usage. This can be used at the point of application and will enable clients to perform ongoing monitoring and management of affordability on existing customer portfolios.