The Payments Show Podcast - IDology: How to VERIFY Your eCommerce Customers Without Compromising SECURITY or CONVENIENCE - Heidi Hunter, Chief Product Officer

IDology: How to VERIFY Your eCommerce Customers Without Compromising SECURITY or CONVENIENCE - Heidi Hunter, Chief Product Officer

11/21/23 • 54 min

In episode 83, I speak to Heidi Hunter, Chief Product Officer at IDology, about how their platform helps businesses to create frictionless and secure eCommerce customer experiences.
We discuss how the platform provides many features including dynamic Knowledge-based Authentication, Transaction Monitoring, document authentication, biometric verification and many others to streamline checkout processes, increase conversions and prevent fraud. We also discuss the challenges and opportunities of digital identity verification in the eCommerce industry, and how IDology adapts to changing regulations and customer expectations.
VIDEO and PDF Transcript:
- click here https://thepaymentsshow.substack.com/p/83
Summary of topics discussed:
(01:02) - IDology Overview: Identity Verification and Fraud Management
(02:29) - Statistics on Business Fraud and Data Breaches
(03:32) - Exploring the Sophistication of Fraud Attacks
(04:51) - The Role of Technology in Fraud Prevention
(05:17) - Impact of COVID-19 on Digitization and Fraud
(06:15) - The Importance of Data Collection in Fraud Prevention
(06:59) - Challenges in Asserting Ownership of Data
(08:58) - The Importance of a Smooth Onboarding Process
(11:18) - Synthetic Identity Fraud
(12:40) - Data Depth vs Richness
(15:04) - Differentiating Factors of Ideology's Solutions
(17:35) - eDNA: Data Collection Across Industries & Markets
(18:49) - Money Moves: Find It Faster
(21:27) - Layering Data: Data Breaches & The Dark Web
(22:53) - Industry Consortium Fraud Network & Cross Border Verification
(30:08) - Fraud Trends: Surge in Fraudulent Domains
(32:44) - The Investment Fraudsters Make in Synthetic Identity Profiles
(33:23) - The Surge in Voice Over IPs
(33:52) - Efficiency of Fraudulent Submissions
(34:10) - Regulation and Legislation Around Money Transfers
(34:48) - The Challenge of Differentiating Fraudulent P2P Transfers
(36:44) - Predictions & The Future
(37:19) - Business Verification Is Increasingly Important
(38:26) - The Impact of OpenAI on Fraud
(41:45) - Know Your Business (KYB) Verification
(49:09) - Get in Touch with IDologyDetails:
- Recorded on 15 Nov 2023
- Host: Satwant Phull
- Guest: Heidi Hunter, Chief Product Officer, IDology
[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- IDology: idology.com | @idology

Previous Episode

Staitment: The ULTIMATE AI Tool for Finding Cheaper Payment Processing – with Michael Seaman, CEO

In episode 82 of The Payments Show Podcast, I spoke to Michael Seaman who is the CEO of SwipeSum.
SwipeSum a technology company that helps businesses find the most cost-effective merchant services and payments solutions through it’s AI solution called Staitment. Staitment helps merchants to find the best solutions in seconds compared to manual audits which can take many weeks or months.
VIDEO and PDF Transcript:
- click here https://thepaymentsshow.substack.com/p/82
Summary of topics discussed:
(00:42) - Introduction
(01:35) - Overview: Staitment AI
(03:11) - Origin Story: Michael's Journey from WorldPay to Swipesum
(06:00) - The Importance of the Right Payment Solution
(08:28) - The Role of Mobile Wallets
(13:19) - Current Payment Trends
(17:01) - Stripe: Mass Exodus of Customers
(19:49) - Integrations & Statement Formats
(23:03) - The Challenges and Opportunities in B2B Payments
(28:27) - SwipeSum's Business Model
(29:31) - Implementation & Getting Started with Staitment
(32:24) - The Importance of Customer Service
(33:52) - Contact Information
(33:59) - Chit Chat
Details:
- Recorded on 30 Oct 2023
- Host: Satwant Phull
- Guest: Michael Seaman, CEO, SwipeSum
[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- SwipeSum: swipesum.com/staitment | @TrySwipeSum

Next Episode

FIAT Ventures: How an Emerging VC Fund is Supporting and Growing the Next Generation of Payment Innovators

In episode 84 of The Payments Show Podcast, I spoke to Alex Harris who is a Co-founder at FIAT Ventures.
FIAT Ventures is a Venture Capital company based in Silicon Valley which has a unique method of working closely with their portfolio companies compared to other VC firms. This discussion ranges from the unusual journey Fiat Ventures took into the world of venture capitalism, to their insights into specific payment companies they have backed and the dynamics of those partnerships.
VIDEO and PDF Transcript:
- click here https://thepaymentsshow.substack.com/p/84
Summary of topics discussed:
(00:36) - Welcome
(03:02) - Start: Introducing Alex Harris and Fiat Ventures
(03:33) - The Journey to Venture Capital
(04:38) - The Growth of Fiat Ventures
(06:07) - The Unique Approach of Fiat Ventures in Building Companies
(08:29) - The Founding Story of Fiat Ventures
(10:17) - Investments in Payment Tech Companies
(16:29) - The Criteria for Investing in Companies
(19:38) - The Unique Due Diligence Process of Fiat Ventures
(20:55) - The Role of Fiat Ventures' Platform Team
(22:05) - Exploring the Payment Space
(22:41) - The Rise of Embedded Finance
(24:31) - Increasing Importance of Fraud, KYC and Compliance Tools
(25:28) - The Role of AI in Finance
(28:28) - The Importance of Data Understanding
(30:13) - The Future of Finance: Inclusion
(38:55) - 2024 Predictions
Details:
- Recorded on 28 Nov 2023
- Host: Satwant Phull
- Guest: Alex Harris, Co-founder, FIAT Ventures
[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- FIAT Ventures: fiat.vc | @FiatVen