IDology
Capture data and confirm identity with the IDology connector. Integrated to the Temenos LMS loan origination module.
The IDology Connector uses ExpectID technology to create a more satisfying account or loan origination experience by allowing applicants to capture data directly from their driver’s license or other personal identification instead of having to type it in. This secure and convenient process not only saves time but also reduces the chance that an application is abandoned.
Key Features
Removing Keystrokes using Personal Identification
The IDology connector pulls data directly from an applicant’s personal identification and automatically enters it into an account or loan application – there is no need to manually type anything in. The applicant can simply take a photo of the front and back of their ID.
Facial Matching Technology
For added security, the connector makes use of IDology’s facial recognition technology to prompt the applicant to take a “selfie” which is then compared to their personal identification. The facial recognition feature will not accept a photo from a photo album—only one taken with a camera at that instant. Including facial recognition at the beginning of the origination process is shown to be a deterrent to fraudsters – who recognize this authentication method is virtually impossible to “fake out.”
Additional Verification
Multiple levels of verification exist within the connector to ensure the information captured is accurate and secure. The IDology connector evaluates layers of attributes for signs of risk to quickly verify and onboard the user. The technology also supports a facial matching algorithm that gives a confidence score for how closely the ID photo matches a selfie.
Secure Data Storage
As the application data is seamlessly captured through the IDology connector, it is uploaded into Temenos LMS Origination for safe storage. The accurate, reliable information can be available for audit at a moment’s notice.
Benefits
Faster Applications
ExpectID Scan Onboard removes friction from the application process, drastically reducing the time it takes a user to get to “yes” on a loan application or open a new account. A faster process keeps users engaged, reduces the chances they will abandon the process because it is too time-consuming, and gives them a positive impression of the financial institution.
Data Is Accurate and Secure
Since the IDology connector pulls an applicant’s demographic data directly from their ID, the information is valid and accurate—applicants will not be concerned about entering their data incorrectly. Though the application takes place via mobile channels, identity validation via facial recognition ensures that fraud will not affect an application. Applicants gain confidence in the process and the financial institution’s approach to security, and institutions know that in the event of an audit, they can access up-to-date information securely stored within the Temenos system.