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Mobile device verification technology and why your business needs it

Apr 10, 2018 Philip Burgess

Mobile device verification technology and why your business needs it

If the average consumer has any one item these days, it's likely a mobile device. Smartphones are truly ubiquitous, often the first thing people pick up in the morning to see what's happening in the world or find out if someone has contacted them via text, voicemail or private message. In fact, when people go online, it's frequently with their handheld device, as nearly 90 percent of mobile users log on to the internet daily, according to recent data from the Pew Research Center.

Mobile devices are so omnipresent, there are almost as many smartphones in the U.S. as there are people, a total that's expected to grow with each passing year.

What is mobile device verification?
The fact that smartphone ownership is so common is part of the reason why mobile device verification technology is so important. As its title implies, mobile device verification services enable businesses to establish customers or borrowers are who they say they are. Identity theft is rampant, as more payment options have enabled hackers to access users' sensitive data, even the information that people maintain on their devices. Verification technology gives businesses the specifics they need to substantiate their customers' identity. This not only helps to streamline transactions and approval, but also provides greater transparency and extra due diligence.

Close up image of fingerprint depicting access technology.Mobile device verification provides the authentication you need to make smart lending decisions.

Microbilt's Mobile Device Verify is truly comprehensive. In addition to providing you with the basics on borrowers applying via smartphone - such as first and last name and mailing address - it provides other relevant specifics as well, such as how long their number has been active, their line type and service status. It can also enable you to hone in on customers' exact location, down to their longitudinal coordinates.

To learn more about Mobile Device Verify and how it can go to work for you, visit us at Microbilt.com.

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