3 ms·
That would be the value add that companies like Equifax should offer as a B2B or B2C service. Instead of blindly attributing debit to profiles without verifica
by cptskippy 7y ago
That would be the value add that companies like Equifax should offer as a B2B or B2C service. Instead of blindly attributing debit to profiles without verification, they could act as an intermediary to establish and verify credit relationships.
Each party is verified and the relationship is verified to ensure non-repudiation.
- gruez 7y agoIsn't that what they already do? You apply for a credit card, get a few multiple choice identity questions, and if you answer them right, they assume you're the right person.
- cptskippy 7y agoThey're assuming, not verifying and the information they use is specious at best. It's sourced from 3rd parties and not verified by the individual. A perfect example of lack of verification and the weakness of their data is your history of addresses. Divorcees often find their ex's new residence will show up on their credit profile as their residence for years after being divorced. An identity verification system would require the individual establishing their identity with the credit agency and provide as much or as little credit establishing information. When a B2C transaction is established, the customer would provide the business with a token identifying the credit profile they want to use and the business would request a credit chect with it to the agency, and if the business accepts the credit score they can both acknowledge to the credit agency they wish to do business.