Digital Identity Verification: a Quick Snapshot
Melissa Team | |
Organizations looking to adapt, grow and scale in today’s digital world must be able to establish and verify identities online – and traditional identity verification methods just aren’t cutting it anymore.
Digital identity verification is now a core fundamental to maintaining customer and employee trust, but transactions must be secure in order to safeguard against the continuing rise in fraudulent activity, one of the biggest issues various sectors face today. As a response, the use of digital identity practices has been widely utilized to put businesses at the forefront of new technologies, new user behaviors and being able to onboard customers in a matter of seconds.
Here are several key benefits businesses can expect with a digital identity verification process in place:
- Convenience: Users can verify themselves in the comfort of their own homes with their own smartphone
- Fake IDs & Tampering: Able to verify over 6,000 global ID types and uses trusted worldwide data sources to ensure a person is who they say they are
- Customer Experience: Increased automation, faster turnaround times, and fewer touchpoints
- Scalability: The flexibility to scale up or down with a business based on the number of checks they perform
- Easy Integration: Businesses can be up and running in minutes with easy integration into existing systems and workflows
- Time: Can be performed in seconds as an easy 3-step process
- Accuracy: Higher levels of accuracy and better compliance as manual keying and general errors are reduced
- Cost: Verify identities 24 hours a day at a much faster rate and at a cost rate that is far lower than manual checks
- Maintenance & Availability: Rarely any downtime when it comes to cloud servers and is always updated with the latest technology to stay one step ahead
- Confidence: Maintain future KYC/AML compliance measures while ensuring standout customer experiences and fraud protection.
As a response, the use of digital identity practices has been widely utilized to put businesses at the forefront of new technologies, new user behaviors and being able to onboard customers in a matter of seconds. Check out our infographic here for a more visual overview of the benefits.
Be sure to subscribe to our blog for anything and everything data quality! If you have any questions or would like more information on Melissa’s Identity Verification solutions, or to connect with members of Melissa’s global intelligence team, visit www.Melissa.com or call 1-800-MELISSA.