Digital identity verification is not just on par with physical verification but in most cases even safer and quicker.
- Tighter security. Especially true in the case of a 2FA or MFA.
- Physical presence is not required. Simply put — it’s done online.
- Lower risk of human error. Unlike with humans, little gets past identity verification software.
- Better customer experience. To lower abandonment rates and make the account opening process as simple as possible, digital identity verification services are developed to be quick and easy.
The future of identity verification
The digital ID verification solution industry is moving towards biometrics as the primary means of verification, which allows for a high level of security and diminishes the need for a physical ID.
Traveling without a physical passport, paying without a credit card, or renting a car without the physical driver’s license at hand might become the new normal if the digital identity verification technologies keep developing at the same pace. Your smartphone and/or your biometric features might be enough.
It is difficult to say exactly what the future holds for digital identity verification, but one thing is certain — digital identity verification is the future.
Online ID verification: the global process for remote identification
ID verification, ID check or identity verification is the process that ensures a person is who they are supposed to be. But… How to guarantee safety when this process is done online?
Identity is the attribute of identical, the exact correspondence of one thing with another when compared. It is the set of unique traits and characteristics associated with a unique and irreplaceable individual. This turns essential when we talk about people and especially within the online environment, where identity theft is a more common phenomenon than we realise.
The identity check is an essential requirement in most processes and procedures, both online and offline, and in all kinds of situations. From opening a bank account to completing tax procedures electronically.
In banking (and in many industries), the ID verification process is known as the KYC (Know Your Customer) process.