WIREDGOV

Guest blog by Barley Laing, the UK Managing Director at Melissa

Smartphones are ubiquitous. Around five billion people out of a global population of just over eight billion have access to a one. It’s why a mobile number is quickly becoming a vital part of the identity verification process in know your customer (KYC) and anti-money laundering (AML) compliance, and in the battle against fraud.

At the customer onboarding stage matching a name to an address has been and continues to be an integral part of ID verification activity. However, with the proliferation of smartphones it’s clear that mobile ID verification – matching a name to a mobile number – is something that needs to be embraced to support wider anti-fraud efforts. Particularly as an estimated 6.1 billion people are expected to have access to this type of device by 2029, while four billion people worldwide have a recognised postal address.

One of the key benefits of mobile ID verification technology is that it doesn’t depend on traditional methods that rely on semi-static data. Instead, it utilises real-time data from mobile network operators (MNOs) to authenticate an individual's identity with a high degree of accuracy.

Also, SIM registration requires individuals to provide their name, address, date of birth and, in some cases, a government-issued document or national ID. It means mobile numbers are increasingly becoming primary identifiers and digital identities. Today, in regions like India, other parts of Asia and the EU, a valid mobile number is not only required for basic communications, but also for critical activities, including opening a bank account, registering for online services, or renting property.

Sourcing easy to integrate API software that can match the name and mobile number provided to the name and number on the SIM is possible, to help prevent SIM swap fraud.

Undertaking mobile ID verification is not budget busting. It can be more cost effective compared to identity verification performed against regulated data sources, such as credit bureaus and government bodies.

Overall, mobile ID verification offers a reliable and efficient way to authenticate users, prevent fraud, and comply with regulatory requirements.

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