Omer Koreh, the Director of Product, Data
In the era of digital transformation and acceleration, onboarding new customers quickly for a better experience have proven to be a priority. In general, the demand for a frictionless experience is rising, and meeting that expectation is no longer a nice-to-have—but a must-to-have. However, today no single digital identity can be trusted. Forrester Research warns that without reliable identity verification, trust erodes, and everyone suffers, resulting in “The Global Identity Crisis.” This ever-increasing identity issue, coupled with the slow knows your customer (KYC) process often beset by complex challenges and myriad SLA requirements, makes meeting customer expectations even more challenging.
By collecting, cross-referencing and connecting online identity information from countless independent sources, Pipl has built digital identities with the highest integrity possible. The company’s unparalleled global index of identity information allows businesses to make connections, eliminating customer friction, fighting fraud and reducing the time spent on review and research.
“Identity verification is one of our strengths, and that's where we fit into the KYC process,” says Omer Koreh, the Director of Product, Data at Pipl. “Our robust identity profiles contain historical information such as past addresses.”
At its core, Pipl has a proprietary identity resolution technology that connects publicly available online and offline information from millions of sources. Businesses can search with any parameter such as name, email address, phone number or social username to find information about a person, including personal, professional, demographic and contact details.
Pipl's high-performance algorithm can connect a single attribute—like a phone number—to numerous other data identifiers, turning that single attribute into a data-rich identity profile. The strength of its technology, combined with a comprehensive data set, allows the company to enrich profiles through linking to provide deep identity insights.
As a customer-first company, Pipl always offers solutions depending on customers’ varying needs. For example, its Pipl Search product provides exceptionally high match rates for data enrichment. On the other hand, the company’s Pipl Trust solution offers actionable scores that can easily integrate into existing workflows for faster and more efficient decision-making across the consumer lifecycle.
By using ethically sourced personally identifiable information (PII) from around the world, Pipl quickly verifies identities in milliseconds. This is ideal, as speed is imperative in a KYC workflow, considering the known challenges of the time-consuming KYC process and the pressure from consumers to deliver great experiences with no friction. Pipl’s unparalleled depth and breadth of data from offline and online sources give the company an advantage over competitors. In one instance, an ecommerce customer experienced a 50% reduction in manual review time and resolved 70% of its identity verification cases on the first search with Pipl’s solutions.
Identity verification is one of our strengths, and that's where we fit into the KYC process
As the world's largest provider of guaranteed fraud protection (GFP) for ecommerce businesses, the client was struggling with a lack of coverage for new markets and social media information, as well as verifying addresses, phone numbers and social media profiles. With Pipl, the client was able to provide additional intelligence to its machine learning algorithm and optimize its manual review processes. Post collaboration, the client’s team has seen a substantial uptick in the volume of transactions it approves for its clients. There also has been a reduction in time spent on manual reviews, experiencing a 99.2% order approval rate, with 99.5% of cases receiving a decision in fewer than 500 milliseconds.
“The bottom line is we enable clients to expand their markets, approve more transactions and fight fraud with identity trust from Pipl,” informs Koreh.