In today’s dangerous and fast-moving world, dirty money is a recipe for major trouble. So to be safe and to abide by the KYC and AML regulations business need identity verification solutions. Following are the businesses that eIDV to validate the identity of customers:
Online shopping has hit high records. Running a successful e-commerce site has become more challenging in recent years due to online scams. To combat all the digital frauds online marketplace needs identity verification solutions. To reduce many fraudulent orders of minors age verification plays its part. Online businesses are at risk due to fake identity scams. Cases of credit card fraud and identity theft are also clamping in this sector so to fight back all these scams e-commerce finds rescue from the instant identity verification software with document authentications to prove someone is who he says he is.
Travel & Tourists
Nowadays as everything is on the internet you can book tickets or schedule a trip sitting on your sofa. But how would the company know that you are actually who you say you are? There identity verification software comes on stage. Identity verification has a lot of potential so its booming usage in travel and airline industry is natural. Airport security needs to be much more efficient so identity proofing is crucial to combat the risk of stolen identities. Identity proofing is a must to make sure that no one with fake identity is passing through just like that.
Nowadays we are using the internet for almost everything, as internet surfing is increasing so online frauds are. It is the utmost responsibility of banks to ensure that they have the right services to ensure that the identities of all the applicants are verified and authentic. So banks are heavily reliant on identity proofing and without them, banks would be suffering a lot because of heavy fines that they will be made to pay by their regulators. Digital document verification services offer a win-win situation for banks as well as their customers as it provides a seamless process fro customers and cut the labor cost and time for the banks. The banking industry can perform KYC verification of their customers through services as address verification, biometric facial identification, document verification, etc to mitigate credit card fraud and other financial scams.
Healthcare is a sophisticated industry that has experienced exponential growth over the years. But unfortunately, the huge revenues of the healthcare industry have also attracted a lot of scammers and fraudsters. Identity theft is gaining grounds in this sector. Data breaches cases have been recorded in this sector. Identity verification services can be used in this sector to keep identity theft at bay by means of facial recognition that supports only live face detection and by document verification to keep the medical data of patients secure.
Players of every age and culture from around the world are willing to try their luck on various betting sites resulting in more identity fraud and money laundering efforts. In cyberspace, bookmakers give players the chance to deposit/withdraw funds via several payment methods online – giving money launderers easy access to clean funds. Digital KYC is practically the only way an online betting site can know if a player is underage or punting with a false identity. Identity authentication solutions prevent players from registering under different names with different emails and home addresses.
Online identity verification is used to validate the student’s identity when enrolling for an e-Learning program or online courses. Identity authentication technology mitigates the risk of online scams and identity theft. Such software help restrict the access of unauthorized persons to some research blogs or journals. Digital document verification is required to check the provided documents of a student to be sure that the original student is being enrolled in programs. This technology can be used to provide intelligent access to within the educational institutes in libraries or labs. Identity verification is used to ensure security within the premises of educational institutes.