How Real-Time Address Verification Can Solve Your Business Worries
Businesses use Address Verification Systems to cross-check a customer’s billing or email address against a reference database. This helps improve service delivery by reducing operational costs and time spent in returning shipments.
With implications for a wide range of industries, real time address validation is especially helpful in keeping databases clean and updated using geolocation data services. Financial services providers and e-commerce businesses work continuously to improve data quality, decision-making and service delivery through the use of Address Verification Software (for both national and international address validation).
Why Choose Real-time Address Verification
Front-end real-time address verification services help complete the entire process while the address is being typed in by the customer. This is called ‘point of entry’ at which the address verification API instantly matches, formats and enhances data against a reference database.
It is important to choose a verification software that provides global coverage and helps prevent customer fraud and chargebacks with evidence of purchase.
By providing authentication of proof of address for deliveries and user identity, address verification benefits companies in three major ways:
Efficiency and agility
Businesses can make their processes more efficient by ensuring that customers are submitting correct address formats and information. This saves both time and money spent on cross-checking both email and national addresses manually, as well as reduced chargebacks requests. Often times it is hard to access address databases and the process gets even longer.
Some of the leading address verification systems provide global support and cover most countries and territories to cater to the rising percentage of global online buyers. This translates into even greater savings in terms of time and labour.
Additionally, evidence saved in the form of videos and logs can serve as proof of address verification in the case of chargebacks. The service enhances operational procedures and makes it easier for the company to resolve customer data issues.
Address Verification services are constantly evolving to provide an added layer of security to businesses with the long term goal of profit stability. A rise in online banking losses, data breaches and fraud has been recorded alongside the rise in digital buyers and sellers.
Real-time email and national address verification ensures that businesses are receiving an authentic customer base upon entry, and have stable transactions throughout.
Enhanced brand reputation
With fewer chargebacks and return mail, brands will be able to maintain a stable reputation among customers and in their respective industry. Checking addresses for accuracy in real-time ensures that the right security barriers are deployed at source to prevent fraudulent transactions.
With strict industry regulations in place, such as in the banking sector, firms can transfer their worries to address verification software providers and ensure complete compliance. Efficient use of data matching solutions can assist businesses in identifying fraud and invalid customer logins.
For e-commerce businesses, this translates into an opportunity to detect invalid customer locations and false deliveries, retaining only a valid customer base. The customer journey is made smooth from registration to checkout, as auto-complete address verifications authorise users at source. This in turn increases efficacy of sales processes and helps establish the vendor as an authentic brand in the field.