Reports of SIM swap fraud have gone up by 400% in five years. Jumio’s biometric-based identity verification and authentication solutions can help ensure that phone numbers are only transferred to the legitimate account owners.
SIM swapping occurs when someone contacts a wireless carrier and is able to convince the call center employee that they are, in fact, you, using your personal data. Instead of relying on insecure methods of authentication, including SMS-based two-factor authentication, use biometric authentication to definitively assess the digital identity of the subscriber requesting the phone number change.
Telecommunications firms using online channels to originate new account applications are turning to Jumio to decrease application abandonment and accurately capture data to boost credit referencing application success rates.
Mobile Network Operators (MNOs) are increasingly being regulated to verify the identity of their existing prepaid customer base. Faced with the option of receiving millions of copies of ID documents by mail, email or in-branch, Jumio’s technology is providing an efficient and accurate way to meet this significant compliance challenge.