Salus was designed to partner with credit unions and provide credit to lower income, thin-file, and young constituents. It provides a digital platform that helps credit unions create financial access and wellness for underserved adults without prime credit scores. Their technology integrates with existing platforms for automated underwriting and data analysis to complement credit histories, allowing their customers to more confidently make loans to underbanked members.
Salus aims to provide a fast, user-friendly experience for its customers, and offer accurate verification. By choosing authID, Salus benefits from solutions such as privacy protection, accuracy, and speed for onboarding and authenticating applicants. This helps its partners build the mutual trust they need with their clients. The two companies share a commitment to bring financial stability to people who struggle with traditional banking or have little access to it.
authID targets the institutions within its customer base that help underprivileged citizens participate more in the economy. The company offers them services that accurately onboard as many legitimate applicants as possible while deflecting any criminals, deepfakes, and frauds.
Previous solutions of identity verification are dependent on probabilistic fraud signals, whereas authID’s service provides a deterministic validation of identity in recognising online participants. This method uses exact, static data to match customer records. This can include elements such as names, email addresses, birthdates, and phone numbers. The deterministic approach is often favoured for its precision, as it relies on concrete, unchanging data to create matches. It has a 70-80% accuracy rate by using definitive identifiers like email addresses and phone numbers, according to Adfixus.
It also offers personalisation by utilising detailed criteria such as past purchases, gender, or ethnicity to design customer journeys that are tailored. As new data enters the system, deterministic matching consistently updates and maintains accurate connections among customer records, ensuring the database stays current and comprehensive.
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