Identity Verification

From students using fake IDs to purchase age-restricted items to fraudsters forging ID documents for obtaining loans and other large-scale operations — it’s important to know how to spot a fake ID in different states.

Stricter regulations across new industries, including social media or gaming, and new age verification requirements have pushed businesses beyond the traditional financial sector to find proper identity verification measures that carry multiple features. But is it actually achievable? We review the most popular KYC measures in the market.

Explore the options for student identity verification and find out why universities and e-learning apps choose to onboard their learners using third-party KYC software as a way to prevent unwanted fraud scenarios, including forged documents, like fake student visas.

Learn the key reasons why companies struggle with KYC challenges. Find out how to build a proper identity verification process while keeping up with the regulatory compliance requirements and increasing customer demands — all while exploring real-life use case examples from various industries.

Find out the key use cases of reverification and learn why this process can be a beneficial factor in both security and user experience.

We explore the concept of KYC automation and its use cases, explaining how AI-powered KYC software can improve internal compliance operations for businesses.

Video KYC goes beyond the traditional hassle of a video call verification process. Previously, customers had to navigate through network, camera, and microphone access checks, along with pre-checks, before engaging in video KYC. However, the contemporary version of the video KYC process is a game-changer. It is now accessible 24/7, not confined to business working hours, while still meeting regulatory requirements and enhancing the overall onboarding experience for customers. Read more.

Knowing your customers properly isn’t possible without KYC or Know Your Customer. Chances are that as soon as you hear this phrase, identity verification comes into mind. Today, this process is also known for strict regulatory compliance across various industries and jurisdictions. What’s the best way to verify a user’s identity? How do we keep the balance between compliance requirements and user experience? What are the 3 steps to KYC? We answer all the burning questions and provide the latest insights below.

Decentralized exchanges (DEXs) are cryptocurrency trading platforms that enable direct transactions between users, aiming to lower transaction fees. They are considered to be fairly anonymous since users need to connect to a crypto wallet to get started. However, DEXs also encounter regulatory hurdles, such as addressing Know Your Customer (KYC) and Anti-Money Laundering (AML) concerns. Read more.

The size of the KYC compliance software market recently reached USD 9.50 billion. And there’s no surprise here. The rise in identity theft cases is a key driver behind the increasing demand for identity verification solutions. So the real question is – which one’s the best? We prepared a full checklist to help your business choose the right KYC compliance software.

Collection, extraction, validation and verification. These are the vital steps of the document verification process. But what else goes into deciding whether a document, such as a bank statement or an employment record, is actually legitimate or not? We go deeper into this subject, discussing the benefits of online document verification.

It’s an open secret that cryptocurrencies were introduced to tackle the problems of centralization and lack of authority in finance after the 2008 financial crisis. Though they have been used in illegal activities, they have ended up causing billions of dollars in damage. Read more.