The Benefits Of User Identity Verification
With more and more cases of identity theft, transaction fraud, and data breaches online being reported almost every day, as a business person, you need to take the necessary steps to make sure that your business is secured. Many countries have been bringing in stricter regulations around Anti-Money Laundering (AML) as well as the need to know and verify that your customer is who they say they are (KYC). Verifying user ID is especially important if your company processes payments or handles sensitive and private information. Chances are you have encountered user identity verification in some online stores or when you are completing applications online. This could have happened where you were contacted after to say they need to see your identification document, driver license or passport in order to complete the order. While this still works, it is manual and time-consuming. You might need to wait days to have it processed, which is not exactly a great user experience. F...