Organization : TransUnion
Facility : Know Your Customer Address Verification
Website : https://www.transunion.co.za/
TransUnion Customer Verification Services
** TransUnion independently verifies the address provided by a customer by matching two alternate addresses found in the bureaus consumer database.
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** The matched addresses used come from sources independent of the group in question and can be applied 90 days retrospectively of the account open date or as per a specified date.
Know Your Customer Address Verification
** Swiftly verify a prospective or existing customer’s physical address against TransUnion’s consumer database
Overview :
Verify a consumer’s physical address with confidence :
** TransUnion’s address verification solution helps customers to quickly process addresses for Know Your Customer remediation and also serves to assist as a proof of address solution for non-face-to-face interaction with customers in the acquisition processes.
Applications :
Electronically verify addresses :
Save costs and streamline operations by electronically verifying address details
** Seamlessly automate the address verification process. Once a list of addresses is provided, TransUnion will provide match rates and confidence levels, as well as detailed information on the matched addresses.
Easily reference and store the KYC proof of address PDF document
** The address verification proof will be supplied in a user-friendly PDF format which can be easily archived for audit purposes.
Account Verification Services
** Acquire new customers and expand existing relationships with TransUnion’s bank account verification services
Swiftly and confidently confirm bank account ownership :
Check the status of a current or savings account prior to payment processing, making it easy to minimise fraud risk and reduce the number of returned payments. TransUnion’s Account Verification Services pre-validates banking information, helping you make informed decisions when onboarding new customers or expanding existing relationships. For example, when bank ownership details do not correspond with provided ownership details, the Account Verification Services offering notifies businesses to data errors or potential fraudulent activity. You’ll gain a deeper understanding of your customers and find confidence in having the most up-to-date information available.
Verify Bank Accounts :
Tap into one of the most powerful and complete systems available
** Successfully verify the identity of account holders and validate their debit order details. This helps you to reduce processing times and billing cost by having access to the right information from the get go. Furthermore, this gives you a clear view of who you are dealing with by connecting individuals to their true account details. This product also alerts to suspicious account activity so businesses can accept more applications with greater confidence.
Improve profitability through more efficient processing
** Account Verification Services can help improve business profitability and strengthen customer service by minimising payment errors and improving payment processing.
Indigent Verification Services
** Maintain indigence records which helps to ensure the fair and equitable distribution of public services
Verify consumer indigence and make confident and timely decisions :
** With years of experience in the development of scoring models and the vast amount of data we have access to, our analysts have developed the TransUnion Indigent Verification Service model – a rules-based model used to group consumers into a high or low likelihood of being indigent. The model outputs an indigent score that uses various sources of data to determine a person’s income and indigency status.
Swiftly validate consumer indigence and make better decisions with TransUnion’s Indigency Verification Services solution.
Ensure fair distribution of public resources such as healthcare
** The indigent score uses various sources of data to determine a person’s income and indigency status. TransUnion’s Indigent Verification Services solution provides an accurate view of an individual’s indigence status and therefore helps state representatives ensure that services are fairly distributed.
Hassle free and seamless maintenance of indigent lists
** Swiftly and automatically manage indigency lists by streamlining processes and accessing the analytical capability needed to better understand consumers.