AST Jan 2020 Magazine AST Jan 2020 Magazine | Page 57

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their
game and adopt new
strategies to steal person-
al data, you should consider
adopting high-tech solutions
such as Artificial Intelligence
(AI) to protect your business
from privacy breaches and
identity fraud.
However, ID Jan/Feb
verification
2019 - Edition can
40
cause friction for both the cus-
tomer and the business because
drawn-out ID verification pro-
cesses hurt customer experi-
ence.
Customer experience is a key
business metric that should
AI has lots of applicability never suffer under any circum-
in this area ranging from net stances.
identify verification process-
In fact, according to Walker, a
es to anomaly detection.
consulting firm, customer ex-
perience is poised to overtake
Below are some of the ways
product and price as a key
you can employ AI in your
brand differentiator by 2020.
business to reduce the chances
of identity fraud.
To alleviate the customer ex-
perience problem when doing
Do Large-Scale Customer ID ID verification, businesses can
Verification in Real-Time
utilize the power of Artificial
Intelligence to automate pro-
Many online businesses are cesses.
required by law to verify the
personal details of their cus- Real-time ID verification is
possible today because ma-
tomers.
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