Experian has integrated Mastercard's identity verification and fraud prevention technology into its Ascend analytics platform.
This collaboration will enhance identity verification services for over 1,800 Experian customers across industries like financial services, automotive, health, and digital marketing to combat fraud and cybercrime.
Identity verification is crucial in combating fraud, with 96% of decision makers recognizing its significance. However, 27% of businesses note that their current verification strategies impact legitimate customers negatively.
Regulators like the Federal Reserve are aiming to address the rise in check fraud, emphasizing the importance of robust identity verification processes to combat financial crimes.