Being able to verify a transaction or a change order helps mitigate risk, eliminate fraud, and increase understanding between you and your client or customer.
Third Party Verification, or TPV, is the process of having an independent third party confirm the identity of the customer, whether he or she has authorization to place or change an order, and whether the customer comprehends the details.
Istonish is a leader in providing TPV services, the use of which is required or authorized by some regulators for industries like telecom and other utilities. Using our proprietary Aprisi Assure platform, Istonish helps companies, both regulated and non-regulated, record transactions and access them easily in the event of a lawsuit or regulatory inquiry. Aprisi Assure offers proof that a customer or client entered into an agreement – proof that can be used as a legally binding instrument by companies to document that they properly verified a transaction.
A wide variety of industries use TPV to prevent lawsuits and improve customer understanding and satisfaction. In addition to telecom and utilities, TPV is useful for financial services firms, mortgage companies, health care organizations, real estate companies, travel and vacation services, and more – basically, any company that needs to confirm or verify its interaction with a customer.
Istonish can partner with your company to customize our Aprisi Assure platform to meet your exact needs. In many cases, our solution can be set up and ready to go within hours, enabling you to design and create a customer service experience based on your unique requirements.
Some use case examples include:
Using mobile text verification, companies using Istonish’s TPV services can provide customers or clients with a quick and easy way to confirm their identity and reduce fraud. Istonish designed Aprisi Assure to work on all types of devices, and to provide multiple channel options for verification.
Our mobile third-party verification services can deliver:
In the often-confusing world of financial services, disclosure may not be not enough to ensure that a client understands either a financial plan or the details of a complex financial product. Istonish enables fiduciaries to keep their clients’ interests first, by confirming that they comprehend what they’re getting. By having a third party ask a series of questions, advisers can confirm whether a client needs more information or a further explanation. Aprisi Assure can help firms identify communication gaps among advisers and clients, as well as assist with financial education.
Our white paper, "From Disclosure to Comprehension: Mitigating Risk in a Fiduciary World" explains how our Aprisi Assure compliance solution can help you obtain "evidence of comprehension" that builds trust with your clients, and reduces the risk of regulatory compliance investigations and litigation.
Sometimes companies need to obtain – and retain – customer acknowledgement and understanding of a decision or action. This record provides tremendous value to the customer and to your organization.
Using the Aprisi Assure platform, Istonish simplifies managing this acknowledgement for both parties by capturing any combination of voice, email, or text and storing it for as long as needed. Liability acknowledgements are then stored as ‘verbal agreements’ in electronic format and attached to the customer record.
Many customers prefer to approve agreements from their mobile devices. Aprisi Assure’s integrated electronic agreements function ensures that customers can easily review contract terms from anywhere and electronically complete the transaction. Our system then notifies all parties that the transaction is complete, enabling immediate activation or provisioning of products and services.