The ID Verification report highlights the potential value of Knock Tours by helping you maintain visibility of risk and fraud. This report shows the coverage you are currently receiving from the product by your leasing teams, highlighting any existing gaps, and estimating the impact to your bottom line.
Knocks partner in ID Verification, Acuant, supports over 6,000 types of IDs today that include
Drivers License from all 50 states
Temporary Licenses (vary by state)
Weapons Permits (vary by state)
College IDs (vary by school/state)
This report is only available for those who use our Knock Tours feature on iOS.
The below metrics are aggregated at either the property level or the agent level:
Visits - this refers to the total number of visits/tours that took place in the selected time range. This helps you understand the total volume of tours. Note: this figure does not include appointments that were canceled or are scheduled to take place in the future.
Visits w/ Scan - This is the total number of visits that resulted in a prospect submitting an ID verification via selfie-scan.
Valid Scans - This is the total number of ID scans which resulted in a positive identification. .
Invalids Scans - This is the total number of ID scans which did not pass the ID verification process.
% Visits w/ Scan - This is the “Visits w/ Scan” column divided by the “Visits” column.
% Valid ID - This is the “Valid Scans” column divided by the “Visits w/ Scan” column.
Fraud Exposure - This is the estimated amount of fraud exposure you may face. In order to calculate this number, Knock uses an industry average assumption for the percentage of fraud likely to occur without fraud measures and the cost associated with fraud. The exposure number is calculated by taking the “Visits” column, subtracting the “Visits w/ Scan” column and multiplying by the percentage of fraud and associated cost estimates. For example, if your team had 15 visits without ID scans in this time frame: 15 tours * 4% (average fraud rate) = 0.6. 0.6 * $7500 (average fraud cost) = $4500 total fraud exposure!