Identity verification is an important process that helps organisations confirm the identity of their employees and customers. It has been carried out for a long time, but traditional methods of ID verification have proved to be inefficient due to the manual nature of traditional verification. Many businesses have now switched to digital ID verification as the importance of confirmation and ID verification has grown tremendously, especially in a post-covid world where remote working is a huge phenomenon. This process of digital ID verification can be critical for a variety of reasons, including:
Security: Verifying the identity of employees helps ensure that only authorised individuals have access to company resources and information. This is especially important in industries where sensitive data is handled, such as finance or healthcare. Once your employees are verified, their information is used to allow them certain authorizations, and this prevents sensitive information falling into the wrong hands.
Compliance: Many industries are regulated by laws and standards that require organisations to verify the identity of their employees. This helps ensure that companies are adhering to these regulations and operating in an ethical and legal manner. As the digital world grows bigger, it also has the risk of becoming less safe – which is why governments set strict KYC and AML compliance regulations to ensure businesses are keeping their customers, employees, and clientele safe. Digital ID Verification allows you to stay up to date with all compliance requirements, and ensures you’re not cutting corners.
Prevention of fraud: By verifying the identity of employees, organisations can reduce the risk of fraudulent activity within the company. This can include everything from identity theft to the use of fake credentials to gain employment. When employees’ identities are verified, it safeguards your business from fraudulent activity within the company, as your business carefully tracks who is who.
Improved efficiency: When an organisation has a system in place for verifying the identity of its employees, it can streamline processes and reduce the time and effort required to onboard new hires or grant access to company resources. It also can prove to be more accurate as it removes the potential human errors that may come into play with traditional onboarding processes.
Overall, identity verification is an essential part of running a business and helps ensure the security, compliance, and efficiency of an organisation. By verifying the identity of their employees, companies can protect themselves and their customers, while also helping to build trust and credibility. Idenfo Direct is a holistic, end to end solution for all things KYC and AML, including digital ID verification. Not only does Idenfo Direct implement a digital ID verification process into your onboarding process, but it digitizes the whole process according to the government’s compliance regulations to ensure you’re never lagging behind. Idenfo Direct uses top of the line, cutting edge technology to carry out name screening, facial comparison, liveness checks, and risk ratings to give your business top notch security and safety.