We all know that fraud has become a global epidemic, even affecting the smallest companies. These days, fraudsters and cybercriminals are increasingly sophisticated; they’re using artificial intelligence to create ever more convincing fake identities. As a result, if you’re not careful to screen customers and verify their identity early in the customer journey, you could jeopardize your company’s reputation and ability to comply with industry regulations.
An identity verification platform could be just what you need to help stay ahead of fraud by verifying customers’ identities quickly, accurately, and easily—without slowing down your business or disrupting the customer experience. Explore exactly how an identity verification solution can help keep pace with the latest threats while ensuring compliance and protecting customer data.
How can an identity verification platform improve customer experience?
An identity verification platform is a cloud-based software that can be used by companies to verify their customers’ identities. The platform has been designed to help businesses improve customer experience by reducing the time it takes to onboard new customers.
How can an identity verification platform help you keep pace with compliance?
The identity verification platform helps you keep pace with compliance.
It helps you stay ahead of fraud by monitoring your data and managing risk across the board.
An identity verification platform can help protect customer data by ensuring that only verified individuals can access the information they need while keeping unauthorized users out.
With an identity verification platform, you can keep pace with the fast-evolving digital economy by working in tandem with your business partners to provide streamlined processes that work for everyone involved – even if they don’t use your system directly.
Better know your customers with a global identity verification platform.
- A global identity verification platform will help you know who your customers are, where they are, and what they are doing with your products and services.
- With a global identity verification platform in place, you can instantly verify the identities of people who walk into your business or visit your website.
- Global Identity Verification Platforms allow you to determine whether someone is over 18 and whether they have been convicted of any crimes by checking public records from multiple countries at once.
How can an identity verification platform help protect customer data?
Data security is a top concern for companies today. With the growing number of cyberattacks, hackers, and fraudsters, you need to protect your customer data from being compromised. Identity verification platforms help protect customer data by verifying the identity of a user before they can access any sensitive information or perform transactions.
The key features of an identity verification platform are:
Data verification: The platform analyzes various elements like name, address, and photo when registering new users. If matched against existing records in its database, the system will then verify if this person has already registered with them before or not. This helps prevent duplicate accounts from being created on your site as well as stopping fraudsters who try using fake identities to obtain personal information about other people online.
Transaction verification: The platform also performs real-time transaction verifications when someone makes payments through their account(s) at stores such as Amazon or Walmart where they may not have been able to do so previously due exclusively using cashier services instead due to the lack thereof having credit cards available within their local area since there aren’t many options available locally such as banks nearby which would offer those services here locally – making shopping online easier than ever before.
At the end of the day, an identity verification platform helps you build trust with your customers and meet compliance requirements. It’s a win-win for you and your customers.