Solutions | Identity Management
Authentication Question
The Datanamix authentication product is a fraud prevention tool that is used to identify an individual using knowledge-based questions (KBA) derived from the individual’s credit information at the bureau.
Overview
The Datanamix authentication product is a fraud prevention tool that is used to identify an individual using knowledge-based questions (KBA) derived from the individual’s credit information at the bureau.
It is first and foremost in place to protect the interest of the business, the agent, and the consumer.
The Datanamix authentication tool provides clients with the ability to verify a consumer via a set of random based question that are derived from the unique consumer profile held at the Bureau,
The solution will start by extracting the consumer’s data from the bureau profile and inserting the available data into a set of question templates, these question templates consist of 186 different questions that could be populated.
Once the question templates have been formulated the system will then reference that data and generate other possible answers to the respective questions.
The entire question set is then sent to the Datanamix randomizer where at the first stage the questions will be split into a positive and negative context of itself which allows for the selected question variable to duplicate in its size.
The next stage of the randomization process would create an algorithm sequence variation of each question where each individual question could populate in 4000 different ways.
Thereafter 5 questions are selected and sent through to the client for answering.
Each question is uniquely weighted based on the strength of the reference data.
The question-and-answer sheet will then display in a mixture of yes/now or multiple choice-based questions.
The Datanamix authentication is designed in very modular structure which allows the solution to be applied in most areas, where consumer verification is required.
The solutions modules allow for it to be adapted and structure based on each client’s individual business requirement and risk appetite.
These business requirements are set out in a setup scope document which is created with the assistance of Datanamix where using past earning and industry knowledge we are able to create a profile that not only suites your business process and requirements but also caters for the mitigation of risk specific to the respective area of trade.
The Datanamix authentication solution is at its strongest when it is accompanied by an integrated business process, which should highlight the required actions in the event of a predicted outcome, coupled with extensive training on the solution and how it flow with in the business process will be beneficial as it will equip the agent to handle the query tactfully and thus the overall objective of protecting the Consumer, the business and the agent will have been met, while ensuring a good customer experience.
Best Practice Guide
It should be noted that the Datanamix authentication product works best when used hand in hand with the business process and proper training on the product.
The Business process will be the main guideline on how and when the Datanamix authentication product will be used and to what outcome is expected. This process should highlight in line with the Datanamix authentication product following protocols:
When should the Datanamix Authentication be initiated? What happens when a consumer is successfully authenticated? What happens when a negative authentication is recorded? What Happens when a consumer is blocked? Is there a script in place for agents to inform consumers of an authentication? How much information are agents allowed to disclose? Then manner/context that the system will deliver the question to the consumer.
Questions & Answers
The Datanamix authentication is in place to protect all parties during the interaction, this means that the approach ensure that questions are interpreted correctly by an individual must be at the forefront of the process, this will have a direct impact to the greater view of consumer interaction and satisfaction when using the Datanamix authentication product.
With the above being said a fine balance must be found where the system meets the customer satisfaction needs but still taking the precaution of not disclosing any vital information that could compromise the Datanamix Authentication process from the business or client’s system perspective.
The Datanamix authentication questions a specifically designed to avoid misinterpretation to an extent while still making them applicable to most scenarios.
Overall Process
The Datanamix authentication solution is at its strongest when it is accompanied by an integrated business process, which should highlight the required actions in the event of a predicted outcome, coupled with extensive training on the solution and how it flow with in the business process will be beneficial as it will equip the agent to handle the query tactfully and thus the overall objective of protecting the Consumer, the business and the agent will have been met, while ensuring a good customer experience.
