Fraudsters are increasingly well-funded, creative, and are continuously iterating on their tactics. To keep pace with Fraud, you need to be able to continuously update your strategy and your strategic data partners. Document Verification is a key strategy in responding to fraud proactively.
Optimizing with Alloy’s SDK
The Document Verification software development kit (SDK) provides a user interface that guides applicants through a document capture and upload process. End-users can upload multiple documents to provide their identity is who they say they are in a single session.
Once the SDK is implemented, it is future-proofed for all of your potential use cases. It will enable you to test, iterate on, and change your document verification vendors continuously without development work so that you can update your approach at the speed of Fraud.
Be live instantly with best practices in the US. With Alloy’s SDK, you will be able to configure your preferred data vendor for each use case and do so iteratively without needing your engineering team. All of which is done through a no-code configuration within the Alloy dashboard. Alloy proactively discovers new partners and offers unbiased guidance as we adapt our best practices to the changing requirements.
Launch with best practices for international geographies. With coverage across 195+ countries, Alloy will ensure you are out-of-the-box compliant with our best practices so you can launch in new geographies with ease.
Own as much of the experience as you want and defer the rest to us. Out of the box, our vendor-agnostic SDK is built with all the necessary consumer-facing UI that’s needed to gather information from your users. You can customize the SDK UI with your logo and brand-specific color schemes. Then, we’ll be able to put all of your origination flow together within a Journey.
Test strategies against each other without needing your dev team involved. At any point in time, you may decide to experiment and test new data vendors to improve conversion rate and reduce fraud losses. The Champion Challenger feature allows for randomized A/B testing to help you determine which data vendor is optimal for a specific use case. Plugging and playing new vendors into your flow is effortless and requires no additional engineering resources.
Supported Document Types
We offer 8 supported documentation types.
Proof of income/tax documents:
- Bank Statement
- T1 (Canadian tax doc)
- T4 (Canadian tax doc)
Document Verification is a critical tool for preventing fraudsters. Below are common use cases to consider on whether to integrate with Document Verification.
Canada Dual Verification requires two sources to meet the criteria:
- Referring to information from a reliable source that includes the person's name and address and confirm that the name and address are those of the person;
- Referring to information from a reliable source that includes the person's name and date of birth, and confirming that the name and date of birth are those of the person; or
- Referring to information that includes the person's name and confirms that they have a deposit account, a prepaid payment product account, or a credit card or other loan account with a financial entity, and confirming that information.
- Credit Underwriting Step Up. A Credit Underwriting application needs a user to upload proof of income as a step-up verification.
- SDK options for Web, Android and iOS.
- Customizable logo and color scheme to match your branding.
- Users can go to a mobile experience to complete their application even if they started on Web via QR code.
- Enable or disable document verification upload via mobile only.
- Support for selfie photo via Web and Mobile SDKs.
- Define the max number of retry attempts to upload a document or selfie; the default is two but can but increased with no limit on the maximum retry attempts.
- Flexibility in displaying which document types an applicant can upload - show all 8 or just the ones you support.
Once the SDK is implemented, consider reviewing our guidelines for submitting high-quality images.