We are excited to announce that we were selected to participate in the new electronic Social Security number Verification service with the Social Security Administration. This effort aligns with our mission to help secure and protect the financial services industry, while helping ensure a fast, safe and easy experience for consumers during their new account onboarding and application process.
The Social Security Administration today announced the first potential group of selected participants for its new electronic Consent Based Social Security Number (SSN) Verification (eCBSV) service. The agency will roll out the service to these users in June 2020, and plans on expanding the number of users within approximately six months of the initial rollout.
“Our new electronic SSN verification service will help to reduce synthetic identity fraud by comparing data provided electronically by approved participants with the agency’s records,” said Andrew Saul, Commissioner of Social Security. “This will provide fast, secure, and more efficient SSN verifications for the financial services industry and customers using their services.”
Read the SSA’s press release by clicking below.
As we continue to integrate this solution into our offering, we’re excited to add the following benefits to our already robust identity verification solutions:
- Validate name, date of birth, and Social Security numbers directly with the SSA
- Fuel risk decisioning for both new and existing applications across DDA, credit, loans and other bank portfolios
- Enhance proactive alerts to identify risk on existing accounts
- Provide access to our Authentify® Platform Solution Suite with access to various authentication and identity capabilities
- Expand our strategy to additional data sources for ID proofing
If you are interested in learning more about how Early Warning can help you electronically verify SSNs through this new program with the SSA, please email email@example.com.