The Experian Identity Verification & Authentication Process

Intellirent is partnered with Experian Credit to quickly and securely verify your applicant's identity. Through an embedded, multi-layered process, Experian matches Personally Identifiable Information submitted by an applicant to their expansive credit database to return a matching report.

• 1) Frictionless Authentication
• 2) OTP (One Time Passcode) Authentication
• 3) KIQ Based Authentication

Experian Identity Verification/Authentication Methods

1) Frictionless Authentication

Applicant data is transmitted to Experian through a secure API. Experian then cross-references this information with several sources: (a) data stored in Experian’s consumer credit reporting and demographic databases, (b) the United States Treasury Department's Office of Foreign Asset Control ("OFAC List"), which contains a roster of Specially Designated Nationals, and (c) Experian’s Customer Alert List. (See: Experian Search & Match Algorithm)

Upon submitting their application, if the provided information is a unique match to a consumer on Experian's file, a report is returned and the applicant will land on their dashboard.

 

2) OTP (One Time Passcode) Authentication

Upon submitting their application, if an applicant does not meet all of the Frictionless Authentication thresholds, an OTP will be sent to their registered mobile number. The applicant will be prompted to enter that unique OTP on the application screen.

Once entered and validated, the applicant will be authenticated, a report is returned, and the applicant will land on their dashboard.

3) KIQ Based Authentication

If the applicant could not get authenticated with Frictionless Authentication and the phone number does not match with name and address of the user, they will be prompted with Experian’s Knowledge IQ. Experian’s Knowledge IQ powered by Precise ID® allows you to authenticate applicants confidently via noninvasive questions that can be answered quickly by the true user.

The applicant should provide the answers for the questions and upon providing the correct details, the applicant will be authenticated, a report is returned, and the applicant will land on their dashboard.

Experian Search & Match Algorithm

Experian uses a search and match engine for retrieving and loading consumer data onto the File One℠ Consumer Credit Database. The specific search and match algorithms used to retrieve a consumer record utilizes the key components of the consumer name and address along with any additionally provided information such as Social Security Number, telephone number, birth date, and/or driver’s license. The combination of name, address, Social Security Number are generally unique identifiers for a specific consumer and the architecture of the File One℠ database allows for the uniqueness of the data to be identified and used in the matching evaluation. However, the unique identity of a consumer is often complicated by human behavioral factors like misspellings, data-entry errors, etc. For this reason, Experian (and other credit reporting companies) use algorithms to assist in identifying logical variations of a consumer identity which complicate the matching process but also add flexibility in identifying a consumer across user applications and over time.

Under FTC, clients are obligated to collect and provide accurate and complete information for identifying a consumer when pulling a credit report.  The identifying information is used to search a reference repository for possible candidate “consumer” records, and then matches the input consumer identification data elements to the corresponding elements on the database to determine if there is a sufficient match to qualify the consumer.  Therefore, the more complete and accurate identifying information provided on an inquiry by the client strengthening the match logic.  Our system can provide credit report based upon minimal data, but in all cases, unless the provided information is a unique match to a consumer on our file, we will not return a report (a no hit will be returned).  This is to accommodate FTC standards for protecting consumer privacy and ensuring that we are not delivering a credit information without permissible purpose.

Ultimately, the tighter protocols for matching an applicant to a credit file, and providing those reports to agents, is in the best interest of all applicants, agents, and owners.

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