The attribute of identity is the correspondence of one object to another when they are compared. It is a set of distinct traits and characteristics linked with an individual who is unique and irreplaceable. This is extremely important when dealing with individuals, and especially in the internet world, where identity theft is a more prevalent occurrence than we realize.
10+ Identity Verification Software
2. LexisNexis LexID
6. DocuSign Identify
What Is an Identity Verification Software?
Identity verification software ensures that a person or an online user is who they claim to be in real life. Businesses verify user identities online, build confidence, avoid identity fraud detection, and comply with privacy and anti-fraud requirements. Many teams within an organization can use the program to confirm identities; for example, human resources teams can ensure a potential new employee. In addition, legal teams can use it to validate a client’s identity requesting sensitive personal data. Identification verification can be done in various ways, including photo-based identity document verification, biometric data such as live selfies, and cross-referencing with established identity databases such as public records.
One of the benefits of identity verification software is that it helps organizations ensure that an internet user or individual is authentic. Companies obtain confirmation of user identities to build trust both online and offline. Among its other benefits are:
- Your Reputation would improve
- Avoid Expensive Penalties
- Preventing Fraud and Money Laundering
- Enhance the Customer Service
Typically, the program provides basic but effective verification flows. In the background, device and browser analytics, background video verification, and other information cross-checking processes improve accuracy without reducing conversion rates. If you’re interested, look for software that’s right for you and your company, and here are some features to look for for your program to be great.
- Steps for users can be added or removed.
- Over 7,700 government-issued IDs must be verified.
- Automated data extraction
- Customize the user experience on mobile and the web.
- Multiple methods for credential and identity verification should be available.
- Conducts risk authentication using data provided by users.
Top 10 Identity Verification Software
Jumio is an ID verification platform established in California that offers recruiting automation, fraud detection, and authentication services to the retail, gambling, and financial industries. They have a $332 million revenue and 1,500 employees.
2. LexisNexis LEXID
LexisNexis supplies legal and other law-related professionals with content-enabled workflow solutions. They have a $3 billion revenue and 10,600 employees.
Pipl is an online desktop search engine that allows users to look up business people’s email addresses, social usernames, and phone numbers. They make $75 million in revenue and employ 54 people.
Cognito iQ is a SaaS platform founded in England that provides businesses with workforce and facility management solutions. They have a $5 million income and employ 28 people.
Evident is a cloud-based identity assurance platform that offers enterprises background checks and verification services. They have 76 employees and a revenue of $3 million.
6. DocuSign Identify
DocuSign is a software-as-a-service company specializing in contract lifecycle management and electronic email signature management for the financial and healthcare industries. They have a $974 million revenue and 3,909 employees.
Acuant is a technology company that specializes in identity verification, document authentication, and fraud prevention. They make $6 million in revenue and employ 97 people.
Onfido is an AI-powered identity verification tool that helps organizations with document identification and facial biometrics verification. They make $84 million in revenue and employ 400 people.
PlanetVerify automates and streamlines the process of obtaining personal information from new customers, employees, and job applicants. It automatically allows the user to give all of their data via their device, saving time and money. They make $4 million in revenue and employ 22 people.
Prove is a new way to verify your identity using only your phone number. They have a $6 million revenue and 34 employees.
How can I know whether someone is who they say they are?
Verifying the person’s identity in front of you is usually the quickest, easiest, and most successful way. The most typical technique is to demand the presentation of at least one government-issued photo ID card.
What is the significance of ID verification?
Financial services, retail, government, and e-commerce have all relied on electronic identity verification at some point in the past. Businesses may need to authenticate that consumers claim they are for various reasons, the most important of preventing fraud.
Why do banks conduct identification checks?
Banks must be able to confirm a person’s identity. Customers may lose trust in them if they do not thoroughly check their ID, and they may even launch lawsuits against them. Banks may discover the solution they need to keep their clients’ identities safe and secure by installing a Mortgage POS.
Consumers have been alarmed by data breaches. Businesses must establish a smooth identity verification procedure that is customer-friendly and complies with organizational requirements to assuage these fears and prevent costly fines and money laundering problems. Look for software that is an attractive solution to these issues because it provides clients with a simple, secure, safe, and rapid identity verification procedure that is simple to use and only asks users to enter their data once during the process.
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