Experian launches Authentication Services in Spanish
Experian(R), a global information solutions provider, today announced that its superior interactive identity verification solution, Authentication Services, is now offered with both Spanish and English consumer response questions. Financial services organizations, retailers and other businesses can now offer their Spanish-speaking clientele the opportunity to apply for credit online, which requires identity verification for fraud and identity theft protection and to support compliance with section 326 of the USA PATRIOT Act.
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Experian's Authentication Services offers multiple service levels for real-time consumer-not-present transactions and new account openings both online and through call centers. The three service levels range from basic verification of name and address to a customized series of detailed questions the consumer must answer correctly during the authentication process to confirm their identity. Now, at the time of inquiry, consumers can choose to authenticate in either English or Spanish.
According to U.S. Census Bureau data, the nation's Hispanic population continues to grow at a pace four times faster than the population as a whole. To capture this expanding population of consumers, large banks and community banks are pursuing the Hispanic market according to a recent article published in American Banker.
"Businesses that cater to the Spanish-speaking community are growing in number, as are the number of Hispanic consumers who shop or conduct financial business online," said Rick Gallagher, president of Experian Fraud Solutions. "We are excited to offer this expanding community the convenience of online business transactions and the security of advanced fraud protection and identity verification."
Stand-alone or integrated with Experian's suite of fraud prevention solutions, Authentication Services offers companies a flexible and easy to implement customer verification program. The real-time technology relies on Experian's proprietary database of over 215 million consumers to verify and authenticate identities. In addition, other non-credit data sources are utilized in real-time for maximum fraud protection.
As a leader in fraud prevention for businesses and victim assistance programs for consumers, Experian supports National Fraud Awareness Week, July 11-16, 2004, a week dedicated to increasing fraud awareness and promoting the global fight against fraud. Experian, in conjunction with the Association of Certified Fraud Examiners and other leading public companies and private agencies, is spearheading efforts to educate businesses about fraud prevention, detection and deterrence throughout the week.