It’s been an incredible twelve months for Trustev.
But the real success for us has come in our dealings with customers. Being able to solve a previously unsolvable fraud problem for a company is what really motivates the team here. We've been lucky enough to have the opportunity to work with some incredible customers who've helped us explore solutions to some of the toughest financial problems faced by online businesses. It's been a huge learning experienced and the more we work with customers, the more we learn about just how much online fraud hurts global commerce.
In the midst of this something very interesting happened. We currently work with two of Europe's largest mobile carriers. As we worked with them to prevent fraud on their online businesses, what became very apparent was that as we improved the state of their online stores and their exposure to online fraud, the financial losses that the same companies were experiencing in their offline retail stores became more and more apparent.
We've all had the experience of heading into a phone store to purchase a new phone or sign up for a new monthly plan. And I'm sure we'd all agree that today’s retail experience is pretty shocking; multiple forms, the need for paper utility bills, photo id - never has a trip to hand over money to retailer been so fraught with red tape and bureaucracy.
And the worst part is that it isn't working for the retailer either. In-store fraud is at an all time high, with fake IDs, forged utility bills and clever fraudsters running rings around the in-store systems. The simple truth is that store employees are expected to be expert document checkers, or that customers who are about to outlay substantial sums on phones are treated as guilty until proven innocent which never leads to a good customer experience.
And so Trustev Retail Decisions was born.
Trustev Retail Decisions is a enterprise level tablet application that retail stores can use to help verify their customer’s identities in real time. We've developed it cross-platform so its available for iOS or Android. Its runs as a stand alone product, or is easily integrated into your existing store tablet application through our APIs. It’s infinitely customisable to suit the particular needs of each retailer.
It’s essential in situations when your customer leaves a store with a high value item, or in fact any situation where you need to be certain of your customer’s identity. It can used as part of an account signup process, or a credit application process to facilitate real time decisioning. Imagine walking in a bank and out with an open account, imagine walking into a department store and getting instant credit, or imagine looking forward to your next shopping trip to your mobile phone store instead of dreading it. Trustev Retail Decisions facilitates the design of true customer-centric experiences where everything happens immediately to suit the customer’s needs and wants.
Today, we're excited to be onstage at Finovate, the world’s premier event for financial innovation to launch Trustev Retail Decisions to the world. We're presenting to over 1,000 industry leaders right in the heart of London.
We're really excited about now being able to offer the Trustev solution to both online and offline retail, a complete solution that brings one platform solution to businesses and let's them focus on selling, while we focus on making sure their revenues are safe and secure.
The application is currently in beta, if you're in a business that needs to be certain of who the people who are walking in your door are, drop us a line at [email protected].