Glide, in partnership with Plaid Identity Verification, offers robust fraud prevention measures to ensure we’re effortlessly onboarding good actors while screening out bad actors.
Overview of Plaid IDV
Plaid is a large fintech company specializing in onboarding infrastructure for banks, CUs, and digital banks. We leverage multiple Plaid products to open accounts and onboard members. Plaid IDV (aka ID Verification) is used to surface over 100+ risk signals in order to screen out fraudulent actors that attempt to open accounts at the Credit Union. Plaid IDV employs three categories of risk checks, which are described below. You can find a full guide on Plaid IDV linked here.
Data Source Verification
Data source verification was formerly known as lightning checks. The first risk check Plaid IDV employs involves matching member’s PII with authoritative data sources. Plaid IDV leverages proprietary datasets which includes credit header files, telecom data sets, government documents, and more. After a member enters his/her PII (name, phone number, DOB, National ID, etc.), that information will be compared to these authoritative data sources to ensure that a match is found.
Document Verification
Plaid IDV does a holistic image analysis on the document provided, looking at blur, glare, and a variety of other factors in order to determine whether the document is real. This helps prevent document tampering and fake document submissions.
Note: in order to mitigate fraud, we don’t allow document upload, only live capture via a device with a camera. If a member is signing up without a device with camera, they will be shown a QR code to scan with their phone/tablet.
Risk Check
Through Plaid IDV, Glide is able to access 100+ Risk Signals in order to make a holistic determination on a variety of risk vectors. Please review the attached doc below for a summary of the different datapoints Glide analyzes in order to determine validity.
Watchlist Screening
Through Plaid Monitor, Glide allows you to easily create an AML screening program for members and entities that includes over a dozen watchlists covering 200 countries, PEP lists, and more. Your risk tolerance and screening preferences can be set and updated at-will directly from the Plaid Dashboard. For more information on Watchlist Screening, please refer to page 5 of the full Plaid IDV guide.
Conclusion
Glide, in partnership with Plaid Identity Verification, offers robust fraud prevention measures to onboard good actors and screen out bad actors. Our fraud system is constantly being iterated and improved, so if you have any questions or suggestions please reach out!