An identity check that stops a fraudster protects a business. One that blocks a legitimate customer costs it a sale. As automated agents handle more activity, enterprises have to establish who an agent represents and what it’s authorized to do, while keeping ordinary transactions moving.

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The PYMNTS Intelligence report, “How Enterprises Can Build a ‘Know Your Agent’ Defense: Digital Identity Verification in the Age of Bots,” produced in collaboration with Trulioo, examines those demands. It draws on a survey of 350 leaders in compliance, risk management, fraud and related functions at global companies.

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Know your agent, or KYA, extends verification to automated agents acting for people or businesses. The report connects that work to know your customer and know your business checks, which establish the identity of the person or company behind an agent.

The report recommends checking authority throughout an agent’s activity. Its five-layer framework combines verification of the person or business behind the agent, specific permissions, agent credentials, continuous monitoring and behavioral checks. For a purchasing agent, verifying the buyer’s identity is only part of the task. The business also needs to establish the agent’s spending authority and monitor whether its actions remain within that permission.

At PYMNTS Intelligence, we work with businesses to uncover insights that fuel intelligent, data-driven discussions on changing customer expectations, a more connected economy and the strategic shifts necessary to achieve outcomes.

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