Clarity Services, a subprime credit reporting bureau, has introduced an identity verification solution called Clear Digital Identity that combines email and phone data, among other sources of information.
The goal is to assure lenders that applicants are who they claim to be.
Data points that cannot be authenticated can indicate fraud, Clarity Services says.
Lenders can use Clear Digital Identity to determine whether further scrutiny is needed, the company adds.
“In this day and age, nearly everyone has a phone and email address,” states Tim Ranney, president of Clarity Services. “As it turns out, the data associated with these accounts, including how long they have been active, can help verify identity, or be highly predictive of identity fraud.”
Clarity offers a suite of fraud detection and credit risk management tools, as well as FCRA-regulated reports and scoring.