Claims to help UK organisations prevent fraud and identity theft
RSA, the Security Division of EMC, has released a knowledge-based authentication service Identity Verification, which is designed to confirm user identities and authenticate transactions in real-time in order to help UK organisations prevent fraud and identity theft.
The company said that the new offering is powered by its Intelligent Questioning technology which is designed to logically develop correct and incorrect answers in real-time.
According to RSA, the new offering can be used during automated self-service activities such as credit card activations, account updates and password resets also to mitigate fraud on high risk transactions such as funds transfer with customers online, on the phone with a call centre or in-person at point-of-sale (POS) terminals.
RSA claims that its Identity Verification presents a person with a series of questions utilising relevant facts to that individual that are obtained by scanning dozens of public records and commercially available databases. The combination is engineered to reduce the ability for someone other than the genuine individual to provide correct responses.
The new offering provides improved accuracy in authenticating users by measuring the level of risk associated with an identity and allows the system to be configured to address high-risk identities or transactions by adjusting the difficulty of the questions during the authentication process, the company claims.
Sam Curry, chief technologist at RSA, said: With speed, accuracy and simplicity, our customers can reduce fraud losses, maintain regulatory compliance and deliver exceptional levels of customer satisfaction. It is critical that valid requests pass the authentication process because failure leads to customer dissatisfaction and increased call volumes to the call centre.”