Friday, November 2, 2018

One in three users lies about their identity on the internet

One in three users lies about their identity on the internet

Identity fraud means annual losses of 1,600 million in Spain

   Identity fraud involves annual losses of 1,600 million in Spain and more than 80,000 million worldwide. Some data that add to the asymmetry of information that is a problem that lurks to all companies, given when a customer enters a website to buy or request a service, provides some information about their identity that does not have to be the real, to the point that one in three users lies about their identity on the Internet, according to Hocelot, a Spanish startup specializing in the verification of information of individuals in real time.

Asymmetry of information and identity fraud are two of the new problems that have arisen in the information age and that companies must resolve to take advantage and offer a better service to the user.

The problem of information asymmetry arises because in online processes, the user, on the one hand, has all the information, and the business website, on the other hand, has no way to verify this information in real time, so that She is forced to make an act of faith if she wants to close that sale or service at the moment.

In this regard, the Spanish startup faces these two real problems thanks to its specialty, the data. As explained by the company, its big data platform contrasts and verifies the information that users enter in any online form in real time.

The implementation of 'Id Chek & Fraud' in the marketing or sales department, allows companies to reduce losses from identity fraud by 90%, minimize manual reviews by 92% and, additionally, increase their online business up to by 25%, as they say from Hocelot.

"For us it is essential that companies know their customers and know who they are talking to to offer the best service and offer," says Antonio Camacho, founder of Hocelot.

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