Business & Marketing

Understanding Identity Resolution: What is It and Why Does It Matter?

Identity Resolution builds a unified omnichannel view of a consumer and expands a brand’s identity footprint. It can also be used to prevent identity theft and fraud.

Detect identity theft and fraud

Identity resolution is a method used to detect identity theft and fraud. It involves scanning various databases for information. This information is then merged into a single view. The resulting identity graph enables organizations to track their financial transactions.

It is possible to identify fraud threats in real-time using identity resolution. With this approach, signals are analyzed across the entire account life cycle.

An example is when a thief opens a new credit card under your name. You will need to dispute the charge with your lender when this happens. You may also have to take steps to remove fraudulent accounts from your credit report.

Detecting fraud can be difficult. However, many services can help. Several companies offer services to monitor your credit, notify you when your account has been compromised, and provide fraud alerts.

You can get a full-service identity resolution solution for the most comprehensive protection. These services are usually offered through banks. They cost about $6.99 per month. Many of these services have trained fraud specialists who can resolve your case.

Identity theft can be expensive. Depending on the type of crime, it can cost thousands of dollars in direct and indirect losses. If your credit has been damaged, you can expect to pay higher interest rates on your loans and credit cards. Also, your insurance premiums could increase.

Most consumers know the importance of protecting their identities. Unfortunately, identity crimes have surged in the digital age. Even if you’re careful, you can fall victim to a thief.

Identity theft and fraud are both severe issues. However, you can prevent them. Aura offers a wide range of solutions to safeguard you against identity theft and fraud.

Aura has a dedicated team of fraud experts. In addition to generous insurance coverage, they offer a free 14-day identity theft protection trial. Moreover, they provide an online portal that lets you check your financial accounts.

Build a cohesive omnichannel view of a consumer

When it comes to omnichannel, the simplest and most efficient way to achieve, success is to have a cohesive approach. Omnichannel is a consumer-centric and interactive experience across online and offline channels.

The omnichannel experience is a streamlined and integrated selling and customer service approach. It allows a brand to reach its target audience where they are. It includes offline channels, such as a brick-and-mortar store, and online channels, such as a website and social media.

A well-executed omnichannel strategy can be the lynchpin of building solid relationships with customers. It also opens the door for new sales opportunities. In addition to improving customer experience, omnichannel can boost revenue as well. For example, it allows retailers to build a single view of their customer’s needs and wants.

Mapping your customer’s journeys is essential to achieving an omnichannel approach. It helps you identify and solve problems before they start. Moreover, it can help you determine the best media channels to use to maximize ROI. Once you know where your customers are going, you can tailor your message and improve your customer service.

It also gives you a rich data source about your consumers’ behavior. By tracking their engagements, you can learn which campaigns are generating the most buzz and which aren’t. These insights can amplify your marketing efforts while decreasing your costs.

Ultimately, an omnichannel strategy is a customer-centric, seamless way to reach customers and build lasting relationships. Using the right technology, you can deliver an omnichannel experience that your target audience will love. Regardless of whether your business is local or global, there are many reasons to adopt an omnichannel strategy. Having a consistent view of your customers is the best way to build trust, which in turn helps increase repeat business and loyalty.

Expand a brand’s identity footprint

Consumer identity resolution refers to connecting multiple consumer identifiers across devices and channels to create an accurate and comprehensive view of consumers. This solution can help brands improve customer engagement and retention, bolster brand trust, and deliver more personalized experiences. Identity resolution is essential for organizations looking to boost their marketing ROI and meet consumer privacy regulations.

Identifying customers across touchpoints is critical in today’s omnichannel landscape. As consumers continue to make decisions quickly, marketers are tasked with moving at their customers’ pace. A unified view of customers can help brands better understand their customer’s preferences, measure their reach, and reduce waste.

Infutor’s TrueSource(TM) Identity Graph integrates consumer identifiers across devices and channels. The proprietary graph also enables brand marketers to capitalize on the many benefits of identity resolution. It provides an unmatched consumer identity data set that allows organizations to increase marketing ROI, improve customer satisfaction, and increase customer loyalty.

Real-time inbound and outbound identity resolution is a pivotal way to expand a brand’s reach and engage customers. With an omnichannel view of customers, brands can deliver consistent messages across channels and devices, reducing ad waste and expanding outbound reach. Using advanced analytics, brands can better predict which customer experiences are most likely to generate positive outcomes.

Many identity resolution platforms include features to streamline corporate policy compliance. Vendors are increasingly offering identity graphs that combine first-party and second-party data with building a complete picture of customers. These graphs make meeting consumer privacy laws and enhancing regulatory compliance more manageable.

To find the right solution for your organization, look for a content delivery platform (CDP) that offers identity resolution capabilities. For example, Infutor’s TrueSource(TM) platform unifies consumer identifiers across all devices and channels, creating a seamless omnichannel experience for your customers.