3 Important Ways That Third Party Verification is Good for Business!

Oct 5, 2017 9:14:00 AM

For more than 15 years, using advanced technology consisting of call handling equipment, Integrated Voice Response (IVR) technology, and proprietary software, Istonish has provided third party verification (TPV) services to the cable and telecommunications industry. 

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Our relationship with some of the largest companies in the industry was born out of a regulatory mandate (Section 258 of the Telecommunications Act of 1996) in 1996 from the Federal Communications Commission (FCC) and the Federal Trade Commission (FTC) to combat fraudulent behavior that is known as “slamming and cramming,” whereby operators would illegally switch a consumer’s phone service or add charges for services without a consumer’s permission. The rule requires all providers of wired voice communications lines to obtain reliable proof that a consumer requested a change of service or ordered new service.  Today, Istonish handles more than 4,000,000 transactions annually, supporting verification methods continually updated as technology emerges.

Although it started out as a mandated regulatory requirement, TPV has emerged to play a key role in many areas of business – some of which can apply to any high transaction business like financial services, mortgage financing, retail energy, and others. 

  1. TPV has provided companies with legally admissible evidentiary artifacts for defending against baseless claims of misconduct and lawsuits.
  2. TPV can be used to confirm understanding of critical information that is non-regulated. One such verification that Istonish performs on behalf of our clients is informing cable customers that their cable equipment is associated with a certain physical address, and that the customer must notify the cable company to update records before moving that equipment to a new address, in order for 911 emergency services to serve the correct (current) address. Customers listen to the information and confirm their understanding. These non-regulated third party verifications can be performed as standalone verifications or can be piggy backed with regulated verifications in a single verification activity.
  3. TPV can build customer trust by making sure customers understand the contract into which they are entering and the financial implications, using language that is easily understood.

To learn how our TPV solution can help you, protect your company and your customers, and strengthen relationships with customers, contact us!  Let’s start a conversation.

Gina Julien

Written by Gina Julien

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