The two companies have developed a service that supports NIST Levels 1 through 3 requirements to allow users to prevent fraud when conducting personal and sensitive transactions online.
The jointly developed service is set to work with the existing business processes through the use of new credentialing capabilities which provide a combination of online identity proofing and authentication, thus ensuring that the right person with the correct credentials carries out the transaction. Furthermore, the service also provides users within the government sector with the ability to self-register for an online account making the online enrolment part of the credentialing process to ensure that the users identity is properly validated.
After their identity has been verified, users are able to create a login and password account that will require them to bind a Symantec authentication credential to the newly created account. For subsequent logins, users are required to introduce their login account, password and VIP credential to have access to their account.
The two companies have developed the service by combining Experians Precise ID(SM) risk-based identity proofing capabilities with the authentication capabilities of Symantecs VeriSign Identity Protection (VIP) cloud-based authentication service which enables enterprises to protect online access and transactions to help obtain compliance and combat fraud.
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