Identity Verification

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 right one? We prepared a full checklist to help your business choose the right KYC compliance software.

With endless automation solutions in the market, you need to have knowledge of how a proper document verification process works and what to expect from KYC providers if you’re looking for a new government-issued ID capture service. More on this below.

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.

There’s an ultimate feature that describes all cybercriminals accurately. Spoiler alert – it’s the fact that they want to stay anonymous. For years, proxy servers supported malicious actors, helping them blend in and conduct dangerous crimes. But can identity verification end this era?

The internet has been turned into a gold mine for data. Users have filled up their storage banks with millions of data pieces, defining who they are both digitally and IRL. But now Web3 has birthed a new idea by which humans can safely engage with their data through digital identity.

KYC is a perfect choice for onboarding your customers. It is quick to do and provides all the required information the business needs to know. Coupled with the AML compliance tool, it might seem that your current onboarding process is complete. However, a missing piece here is customer re-authentication after the initial onboarding. This blog… Read more — Face Authentication: How It Completes Your Identity Verification Flow

Explore the different benefits and opportunities that eKYC can bring to many industries and learn how to optimize compliance workflows.

Today, the majority of smartphones come equipped with NFC (Near-Field Communication) technology. As this advancement becomes more and more popular, businesses are looking into NFC chips and how they enhance the identity verification processes.

The discussion about fraud is ever-present in various industries worldwide – and for a good reason. Throughout the years, we, as a society, began to value transparency and fairness to a much greater extent than we did before. Fraud is directly opposing these values, and the demand for attention and prevention of fraud is rising… Read more — Fraud Week: What Is It and Why It’s Important

Cybercriminals violate individuals’ privacy to make identity-related frauds. In comparison to other forms of crime, cybercrime involves low risk and is lucrative. Consequently, cyber attackers engage in this fraud game to make money quickly. Luckily, you can prevent identity theft by investing in a powerful ID verification solution.

With technological advancements, the healthcare industry is increasing rapidly all across the globe. However, it’s also true that these technologies have brought new threats to the industry. We explore how identity verification helps.

Since identity theft cases are growing rapidly, every business needs to set up an advanced verification solution to ensure that only authentic people are using their platform. Read more.