Financial Services & Insurance: Address Validation for KYC & Fraud prevention
Having the right Address Validation system in place is critical for financial services and insurance companies: ensuring a customer provides a valid address when opening a bank account helps prevent fraudulent users. It also guarantees that customers receive key communications via post, such as bank cards. Additionally, maintaining a clean address data set enables the collection of debts to be simplified by ensuring correspondence is received to enforce repayments.
When it comes to a business customer instead, being able to identify a change in address or understand if there is still business operating at a certain address, can be vital in helping banks to comply with laws.
Our Address cleansing service can alert you when one of your business customers changes their listing, avoiding failure to comply with industry regulations.