We live in era where there are so many cases of identity theft, transaction fraud as well as data breaches online. It is because of this that many countries have been bringing in stricter regulations around anti-money laundering (AML) as well as the need to know and verify that your customer is who they claim they are (which is referred to as KYC, or "Know Your Customer"). Verifying the identity of individuals is especially important if your organization processes payments or handles sensitive and private information.
So what are some of the benefits of online identity verification? One of the benefits of this technology is that it is becoming easier. Chances are you may have encountered identity verification in some of the online stores you have visited or when completing applications online. You were probably contacted after doing the applications to show proof of your driver’s license or passport in order to complete the order. While this works, the problem is that it is manual and time-consuming. Customers might be forced to wait days to have it processed, which is not exactly a great user experience. The good news is that recent developments in identity verification technology have made it easier to integrate online ID checking tools right into your website or app.
Another benefit of online ID verification is that it leads to lower friction and better customer experience. If you integrate this technology with your website, the users can be asked for their identity information right then and there and get an instantaneous result. What this simply means is that there is no interruption or hold-up in the process, and the burden for the user is very minimal.
For more information on the benefits of using online identity verification technology, visit our website at https://www.ipsidy.com/
