What are Identity Verification Platforms? Identity verification platforms utilize additional personal information past a username or password to verify the identity of an individual. This additional information comes in various forms including date of birth, government-issued IDs, voice recognition, biometrics, or even facial recognition. Using identification verification allows for organizations to more accurately confirm the identity of an individual user. Identity verification is used across ...
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Identity verification platforms utilize additional personal information past a username or password to verify the identity of an individual. This additional information comes in various forms including date of birth, government-issued IDs, voice recognition, biometrics, or even facial recognition. Using identification verification allows for organizations to more accurately confirm the identity of an individual user.
Identity verification is used across many industries such as social media, the financial sector, government establishments, technology and information, and many more. As more organizations switch to digital transactions, the demand for identity verification platforms has increased. Many governments and countries are pushing for stronger identity verification practices through anti-fraud laws and regulations to cut down on identity theft-related crimes.
Identity verification also protects a business by verifying new employees and performing background checks on customers. This reduces internal instances of identity theft, fraudulent transactions, and potential unauthorized access to an organization’s information. These platforms will also typically leverage a variety of resources, such as databases and document scanners, to aid in the verification process.
Most products in the identity verification platforms have the following features:
Before purchasing an identity verification platform, an organization should consider the following factors:
Verification Speed: For businesses with high traffic, the ability to verify users and customers quickly is important to improve services provided and draw more customer traffic. Businesses with a large traffic flow, should consider a vendor with fast verification return times. This can help to balance their security needs, and create a smooth customer experience.
Geolocation Services: Businesses should consider whether a platform that offers geolocation services might be useful. Geolocation services allow an organization to pinpoint logins based on the device being used and where it is being used. This information provides an organization with necessary insight which can be used to tweak their services to align with local and federal laws. It also increases security measures for both the user and the organization.
Depth of Verification: The depth of verification should also be considered. Some organizations might only need to confirm a date of birth and a name, while others may need users to physically scan in documents that can be run against internal databases. Ultimately, it’s important to consider what depth of verification your organization needs. Some platforms specialize in specific types of verification and may be better suited for special use cases.
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Pricing for identity verification platforms is typically offered by vendors as a monthly rate ranging from free to a couple hundred dollars a month. Some services will also charge an additional $1.00 to $2.00 per verification request or successful verification. Typically, most vendors will also provide a free trial to users to try out their products.
Identity Verification Software allows businesses to verify the identities of customers and users. This data can then be used to protect data and information from potential threats, such as denial of service attacks. The result is increased security, increased customer trust, and validation of digital transactions from one party to another.