How Credit Unions Verify Each Member’s Identification Digitally

Most credit unions currently have a process in place to verify each member through the call center. The verification of the member’s identity allows the credit union to perform specific tasks over the phone, such as balance inquiries, transferring funds and making loan payments.

A similar method can be applied to confirm the identification of your members using SMS and the Elle text messaging platform.

Recently, Priority One Credit Union established a three-factor verification process within the text messaging platform to ensure proper member verification. To ensure that member numbers are not stored in the cloud, Priority One searches for the member by the incoming phone number. Once a phone number match occurs, the call center verifies additional pieces of information from the member via SMS.

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This verification process protects each member by not over-exposing personal information while also verifying their membership with Priority One Credit Union.  Once verified, Priority One has a secure way to handle member requests. Currently, the credit union can help each member with balance inquiries, transferring money from savings to checking, or making a periodic loan payment via SMS.  Since funds are not leaving the account, Priority One successfully provides an innovative channel for member transactions.

With a rise in identity theft, it is essential to include steps like this into the digital scalability of banking. Processes like this provide an extra level of security and protection to your end users.