How Knowledge-Based Authentication Prevents Fraud and Identity Theft

Published by Merryl Dusaran on March 24, 2020

Knowledge-based authentication is widely used in banks and other financial institutions. At some point in your online transactions, you probably have encountered KBA, like when you are setting up your account. This high-end authentication method provides confidence to both the business and consumers that data in the digital space is secure.

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How Will Verifiable Consumer Requests Affect Customer Support Processes?

How Consumer Support Processes are Affected by Verifiable Consumer Requests

It is stated that the business shall promptly take steps to determine whether the request is a verifiable request. But what is the classification of a verifiable request? How do you consider one’s request as verifiable? Since it’s a bit fuzzy in this area, as a business owner, you need to step up your business to meet the requirements and secure the customer’s information.

What is the California Consumer Privacy Act of 2018?

What is the California Consumer Privacy Act of 2018?

Data breaches can affect both the business and its consumers. Laws and regulations implemented for tight security and to prevent breached records of consumers. With UK having the GDPR and California with CCPA, surely some areas are pushing for their protection too. These laws and regulations exist not to burden any company or anyone who wants to do business with them. They exist to ensure consumers and businesses will always have strong security coverage for their data.

Three Reasons for Our Ridiculously Low Error Rates in Appraisal Report Writing

Our Appraisal Report Writing Have Ridiculously Low Error Rates! Why is that?

The typical error rate for the appraisal report writing process isn’t generally known because the quality and speed of producing each report vary based on the appraiser’s level of experience and the tools and resources available to them. However, in a data-driven company like Fair Trade Outsourcing, you’re assured that our agents can produce at least 10 reports in a week with 9,000 data points, and still maintain an error rate of 0.07% for the whole week (and not per report).

If you really think about it, the error rate for appraisal report writing at Fair Trade Outsourcing might even be lower than the estimated number of plane crashes that could happen in a year.

The Types and Uses of Appraisal Reports

What are the Two Types of Appraisal Report?

There are two types of appraisal reports addressed by USPAP as of 2014, namely Appraisal Report and Restricted Appraisal Report. These are the only reports endorsed to meet USPAP’s minimum requirements and reporting standards.

In other words, each written report of real estate appraisal must be prepared and submitted as one of these two types of reports. While both reports are completed appraisals with certified values, they vary particularly on the content and level of reporting detail, as they are dependent on the intended use and the intended user.