Built for security and privacy, identity verification platforms use the latest automated identity verification technology to verify documents in a simple and fast manner. The best part is, for most businesses this technology is easy to implement, use, and fits most situations seamlessly.
All around the world businesses are constantly relying on identity verification software. These programs help expedite legal processes by ensuring people or online users are who they say they are.
One of the key features provided by most identity verification software is the ability to streamline the KYC guidelines. The ‘Know Your Customer’ process involves collecting the appropriate legal data to verify the risks and identities of those involved with a business transaction. If these guidelines are not followed, your business can be labeled as non-compliant.
In terms of features, identity verification software does not just take care of the KYC process. The benefits that it can provide a business are much more extensive.
How Identity Verification Platforms Suit your Business Needs
- Automated the ID Verification Process
Identity verification programs can scan documents and extract personal data from NFC-chips using the machine-readable zone in eIDs. This allows for automated onboarding and remote copy identification. Also, document uploads are more streamlined, and businesses can take advantage of automated form filling.
- Ability to Identify and Verify Customers’ Identity
Identity verification software helps businesses ensure that the people providing the data or document are in fact who they say they are. This is important as eCommerce grows and transactions become global.
It also helps businesses determine whether it is a real person providing the document and not a bot. By extracting relevant personal information and verifying that the individual is real, these programs help legalize identities.
Identification and Document Authentication
Authentication of identity documents deters potentially dangerous individuals and criminals from forging an identity to gain access to sensitive information. Most ID verification platforms allow businesses to validate RFID chips, eIDs, and e-Passports. Businesses can authenticate these RFID chips with their devices’ NFC readers. They can also perform a series of manual checks to authenticate documents.
Essentially, an identity verification platform aims to prevent identity fraud, help businesses and users comply with privacy laws, and improve due diligence. It is changing the face of online identity and is ideal for businesses that want to spend more time focused on their business, and less time dealing with documents.