Speaker: Suzanne Perry
What was the challenge Corporate One needed to address and why was ID-Pal selected as a partner?
Suzanne Perry: Corporate One first started working with IDPal in 2018. We were looking for a way to help our credit unions modernize their digital member experience and combat the fraud that is prevalent in online account opening. IDPal was the right solution at the right time.
How has ID-Pal helped Corporate One address those challenges and what has the impact been?
Suzanne Perry: right time. Like all financial institutions, credit unions are required to verify consumer identity during the account opening process. And with more credit unions moving to online account opening, verifying consumer identity has become an absolute necessity. In addition, fraud is such a huge issue in the financial services industry, so we wanted to provide our members with the tools to help mitigate this type of risk. Offering online account opening isn't just a nice to have capability anymore. It's essential for credit unions to be able to compete for market share. Our goal was to help our members modernize their digital member experience and compete effectively with confidence. IDPal provides that confidence by delivering a robust solution that detects and prevents common identity document fraud. Using a powerful combination of AI-driven biometric document and database checks, IDPal verifies the authenticity of an individual's identity documents, fulfilling the know your customer requirements and reducing the risk of fraud.
What would you say to other Community Institutions considering ID-Pal?
Suzanne Perry: Community institutions considering IDPal will find that it is an affordable, effective solution that helps them compete for market share with confidence.
