ID verification is defined since it is a verification mechanism for all the people who are joining a system, or if we are talking about educational institutions, those who came for online admission as students or applying as employees for the job. Basically, this process includes the verification and authentication of the individuals. That comes to register are the authentic ones or the impostors. Whether the identity joins with the intention of damaging a system and drastically dragging them in reputation to fulfill their illicit objectives. Identity verification is a mandatory step that is a necessity of contemporary times.
What does Identity Verification Mean?
Authentication of an individual is necessary, it helps an association to determine the scammers that are negatively affecting the systems. This compliance will help to distinguish the entities that are playing with the personal data of the students as well as the personnel, who may be from outside the institution or maybe part of the department, for the security of such identity theft the identity verification that the SaaS provider is up and running. Screen all scammers trying to circumvent these systems. Hence, this process is done with the help of KYC and AML regulations, which support the functioning of automated online identity verification in a robust manner.
Forget traditional identity authentications
There was a time when the identification of a single person by looking at heavy files by standing in the lines for a long time. That was the traditional means of examination that could also not have accurate results, in addition to having a lot of errors in it. . But, now that the world advances and develops new technologies, manual means of verification is not without value. That is why digital identity verification needs to work. It is an automated solution and will accommodate an association with accurate results in real-time. and it has no errors. Therefore, it is the only reason that the introduction of online identity authentication software comes into action.
How does identity verification work?
Identity verification is a proper path that needs to consider for best results. The first step is the registration of an individual from an institution, whether he/she is a staff member or a student, he/she needs to register through the presentation of credentials. like name and date of birth.
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After that, identity is proven by showing government-approved documents such as passport, driver’s license, and national identity card.
In the third verification step, with the services of OCR and KYC compliance, in-depth data analysis comes into action. For example, the name, address, and date of birth of the document for authenticity results. After these steps, the user sends a selfie of him/her. So that it compares with the image shown in the real documents. This will help companies assess that the entity entering the space is authentic, not a fraud. After all these steps, the results are provided in real-time.
Benefits of customer identity verification
There are countless benefits of this customer identity verification SaaS provider such as,
- Protect an institute from scammers
- Works in real-time
- Examine the high alert entities that write to enter a system.
- Summarizing everything
To ensure that the people entering the organization are genuine or simply pretending to be authentic. As well as helping to observe if they are harmful. or not for companies.