Magic Link

Yes. Magic links provide companies with the option to build a streamlined onboarding flow without the need to build a whole identity verification process from scratch in-house. Like any proper ID verification processes, when a customer connects through a magic link and gets redirected to upload their ID document and complete a quick selfie check (it depends on the provider, some might offer other methods, such as video KYC), their data is securely checked and fully protected, according to all regulatory requirements, such as the GDPR. 

Device authorization is a common use case that is based on utilizing magic links for verifying new devices. This is a popular method to secure sensitive accounts that hold personal details and banking information, for example. Instead of requiring users to enter their credentials, a magic link can be sent to their phone, allowing them to verify a new device with a single click. This prevents account takeovers and other forms of fraud. 

Yes, magic links can be used for this functionality. If the user:

• Hasn’t logged into their account for a while
• Hasn’t responded to the company’s request to fill in some sort of information (for example, review their KYC data after a year of using the services on the platform)
• Is about to conduct a high-value transaction (that’s considered to be higher risk since it’s atypical behavior to the user)

In all of these cases, the user can be reverified through a magic link and asked to complete the KYC process again (it depends on the company’s risk appetite). Following this procedure ensures the same security during initial onboarding. It guarantees the verification through the link is performed by the same person and account holder who originally completed the ID verification when registering on the platform. 

Yes, third-party solutions that are fully automated, meaning that the Magic Link solution requires the user to verify their identity through a streamlined flow (for example, the personal details from their uploaded photo of a government-issued ID document are automatically extracted), are often frictionless and don’t require many steps or time for the end-user. 

This helps companies:

• Increase conversions. Since the KYC process is seamless, it makes the onboarding process quick, lowering cart abandonment rates in industries like e-commerce. Additionally, as the user doesn’t have to enter their password, they are more likely to go through the process. 
• Reduce user churn. Companies who implement third-party solutions like magic links can make a good positive impression on the user who’s verifying their identity from the start, making it an enjoyable experience, which helps reduce drop-offs and increase revenue in a long-term, sustainable business relationship perspective.

iDenfy’s built-in Magic Link feature allows companies to manually generate verification links on the KYC dashboard. This is an alternative method to create links and send them to users via email, SMS, and other customizable methods, such as a temporary button that redirects the user to their IDV session. 

This is how the process works:

• You can generate a single link for up to 500 identity verifications.
• When a user clicks the link, a unique IDV session is launched. 
• The user is asked to verify their ID document or complete the full verification flow (document verification + biometric verification).

Each session is treated as an individual verification. You can customize the verification process that happens through the magic links, depending on your risk appetite and compliance needs.