/Veridas and Kount, Forge Alliance to Fortify Businesses Against Click and Collect Fraud

Veridas, a global leader in biometric solutions for digital identity verification, proudly announces a strategic partnership with Kount, an Equifax Company, which is a leading provider of digital fraud prevention and identity solutions for businesses. This collaboration aims to tackle the escalating issue of click-and-collect fraud in the B2B sector, offering retailers an advanced, comprehensive solution for trust and safety in digital transactions.

The Challenge: Click and Collect Fraud in B2B

In today’s digital business landscape, the rise of click-and-collect fraud poses a significant threat to retailers at various touch points during the sales process. In fact, Click and Collect fraud is one of the fastest-growing fraud trends globally. Fraudulent activities, such as using fake credentials to purchase and collect items, expose retailers to financial losses, chargebacks, inventory shrinkage, and potential damage to their reputation.

The Solution: Veridas and Kount Join Forces

Veridas’ identity verification enabled through facial biometrics and document verification, combined with Kount’s industry-leading trust and safety technology, provides a comprehensive solution to combat the challenges of click-and-collect fraud. Veridas will conduct extensive checks on companies and their directors to enhance the security of transactions. Simultaneously, Kount will verify and authenticate the identity of individuals making purchases and ensure the legitimacy of those receiving goods and services. Incorporating Kount’s risk management capabilities with Veridas’ cutting-edge identity verification technologies significantly reduces the risks associated with click-and-collect fraud.

Benefits for Retailers

• • Enhanced Security: A multi-layered approach to security, safeguarding against various stages of fraudulent transactions.
  • Mitigation of Financial Losses: By authenticating both the purchaser and the collector, the solution minimizes the risk of chargebacks, inventory loss, and potential reputation damage.
  • Streamlined Operations: Retailers can confidently conduct business transactions, knowing that the identities involved are verified and Authenticated.

 

“By integrating Kount’s comprehensive risk management expertise with our advanced biometric identity verification technologies, we are setting a new standard in combating click-and-collect fraud. Our collaboration is not just about enhancing security; it’s about fostering trust and reliability in the digital transactions of the B2B sector,” says Sabrina Gross, Regional Director of Strategic Partner in EMEA.

 

“Our partnership with Veridas signifies a step towards revolutionizing digital identity verification and fraud prevention.” said Scott Przybyla, Vice President of Channel Sales of the Digital Solutions team at Equifax. “Together, we will empower businesses and consumers with unmatched protection and seamless customer experiences.”

About Veridas

Veridas is a technology company that was founded in 2017 as a joint venture with BBVA. Since then, it has become a leading global player in the identity industry, serving over 250 clients across 25 countries in sectors such as banking, insurance, telecommunications, and public administrations. Veridas’ success is built on its commitment to technology, talent, and hard work, and its mission is to enable secure and reliable identity verification and authentication through its cutting-edge biometric solutions. Veridas focuses on what it calls “Phygital” identity, combining physical and digital identity verification for a seamless user experience. Its modular solutions, which include its own facial biometrics, voice biometrics, and identity document verification technologies, can be tailored to any scenario. Veridas was born with the purpose of guaranteeing people’s right to use their real identities in the digital and physical world. Its vision is a future that is passwordless and keyless, where people are recognized privately, securely, and voluntarily for who they are.