It won’t be getting any easier. With mobile marketing competing with identity theft, every business needs all the help it can get to make identity verification quick and easy.

Technology has improved and extended online consumer interaction. But, as this improves business opportunities, it also presents new problems. As Forbes observed, “Digital identities are a stronger and more relevant solution for our ever-growing digital world.” In a one-on-one transaction on-ground, you can ask the customer to show a proof of identity, such as a driver’s license. Online business exchanges require an online identity verification to avoid risking the business’s present and future.

5 reasons to turn to online identity verification

Online Identity Verification seeks to easily confirm your customer’s identities by using state-of-the-art technology. The best systems offer a mix of artificial intelligence (AI), computer vision, and ID expertise to determine the authenticity of documents presented by consumers. There are at least 5 reasons your business should be turning to online Identity Verification for faster service.

  1. Reduce Risk: As mobile devices begin to rule online transactions, your business risks losing more to fraudulent activities. Chip cards have reduced problems for in-store transactions, but online fraud still offers a big target.

You want an quick and easy process that assures you that the customer is using documents of their own. But, if this doesn’t happen in real time, you tax the customer’s patience and lose the deal.

  1. Customer Experience: Most customers know identity theft poses a real and personal theft. Few know how it happens or how they can defend against it.

Shoppers and customers appreciate any business that has precautions in place. Signs of your confidence leave them feeling secure in doing and continuing their business with you.

  1. Delivery Verification: Identify theft criminals often misdirect e-commerce vendors to ship packages to an address other than the apparent buyer. If you can verify their identity, you can link to their correct address.

Good Online Identity Verification systems match the buyer’s address with the preferred delivery address to watch for red flags. Good systems let good customers correct a mistake entry, but they also tell the customer their process is being monitored.

  1. Reduce Costs: Fraud hits businesses hard. It hits directly and indirectly where it hurts. But, a best practice in Online Identity Verification integrates customers smoothly. It eliminates false negatives to make things easier for good customers. Business Insider warns, “digital fraud is becoming more commonplace and more expensive for merchants.”

As a client, you expect 100% accuracy across multiple channels, including Android, APS, iOS, SDK, SMS, and webcams. And, in the short run, a robust system will reduce the costs involved in manual verification, rerouting misdirected packages, or loses due to false representations.

  1. Compliance Issues: As the global economy becomes more complicated, compliance agencies have increased their demands of e-commerce businesses. Businesses need proof of due diligence and compliance with AML (Anti-Money Laundering), GDPR (General Data Protection Regulation), KYC (Know Your Customer), PSD2 (Second Payment Services Directive), and more.

Quick and Easy Verification

If cyber criminals stay ahead of e-commerce, the businesses will continue to suffer losses. To even keep up with the criminals, you need a quick and easy, real-time, and intuitive Online Identify Verification system. It’s time to install the technology to make Online Identity Verification quick and easy for you and your customers.