This is the next installment of the Solution Series, where we share an overview of our key KYC & AML solutions. This time it’s our latest innovation, Utility Connect, which is the only global and automated customer address verification system in the world.
This is what you need to know, and why it’s a game changer, along with a product sheet…
What is UtilityConnect?
UtilityConnect allows customers to verify their home address online, using one of their utilities or telecoms providers. It’s a quick and easy step that usually takes less than a minute, and is simply included into the online customer sign-up process for any type of website or app where address verification is required.
Users do a simple search and select, to pick the utility provider they wish to use, and UtilityConnect then accesses their latest online bill, to check the address on the live and secure bill matches the address that the user has inputted at point of sign-up for a new account.
It’s exceptionally easy for the user, they simply consent to the check being run, and if the details are confirmed, then their address is verified in a way that is faster than any other current method, and in a way that is more secure.
What’s game changing is that this is the only solution of its kind on the market. It is global (it can access 6,500 different utility and telecom providers worldwide), it is totally automated (whereas typical address verification is done manually, which is costly), it’s fraud-proof (while conventional proof of address – paper bills or letters – can easily be forged), and it’s customer-friendly (rather than having to find a paper bill that’s recent, and then share it in a slow and outdated way, a new customer can simply choose a utility provider at sign-up and the software does the rest for them, in less than a minute).
How does it work?
It’s a simple 3 steps that takes seconds:
1) A customer selects from 6,500 utility and telecoms providers.
3) UtilityConnect retrieves the customer’s name, address and most recent bill.
Proof of address is automated, using a source document for verification, with recency confirmed, and a real-time response is given.
UtilityConnect can be embedded into the sign-up process at any point, and can also be combined with our other verification solutions, such as Profile iD, which offers allows customers to verify themselves from anywhere in the world in seconds.
What are the benefits?
The biggest benefit is that this is an automated system. Fully automated technology minimises friction for the customer, and reduces costs for companies by removing or reducing manual review.
UtilityConnect is a global solution, allowing you to verify customer addresses in over 40 countries, with total confidence, and quicker than ever before.
Using this innovative method means companies increase customer acquisition with real-time onboarding, and create a better customer experience.
GLOBAL SOLUTION. UtilityConnect connects to thousands of utility providers worldwide.
ACCURATE DATA. Direct-from-source data eliminates the potential for fraud or forgery.
UP-TO-DATE INFORMATION. We receive the most recent bill available from the utility account.
SAFE AND SECURE. Industry-leading safeguards protect the customer’s data.
UtilityConnect offers a seamless user journey. Traditional methods of address verification take hours or days, and take the customer offline, which leads to customer frustration and drop-offs, and therefore lost revenues. Now, UtilityConnect is the solution.
We also offer total flexibility. Choose from our no-development hosted solutions or complete control over customisation using our RESTful API.
This is the new benchmark for address verification.
Paper bills are a problem
The traditional method to verify address is through requesting new customers to share a recent paper bill. However, paper bills have already been phased out by most banks, utility and telecoms providers, and soon the vast majority of customers (especially millennials and gen Z, who are the majority of new customers signing-up) will not be able to provide a paper bill, and would be turned off by having to do so. Online, automated, and real-time is the only answer, for now, and for the future, in order to securely verify address, and do it in real-time, as customers needs.
An innovative consent-based approach to address verification, that’s easily integrated, and can be combined with other solutions through a single Sodium API, and provides the customer with the real-time onboarding and access that they want, and provides companies with increased revenues and retention as a result.
Fill in your details below to download our full UtilityConnect product guide.