The Power of KYC Identity Verification with ID Scanning Technologies
Short for “Know Your Customer,” KYC identity verification has become a common part of many businesses over the last few years in particular. Organizations need a way to confirm that their current or prospective customers are who they claim to be, and the technology has finally gotten to a place where this isn’t just possible – it’s more efficient than ever. It’s prevalent in a wide range of different industries, from grocery to retail to banking, telecommunications, travel, and more.
Yet at the same time, this increased reliance on mobile technology and eKYC (Electronic Know Your Customer) solutions have also given birth to increased instances of identity theft, along with related fraudulent hacks. Some providers have always kept security in mind and have offered the ability to capture data without the need for an Internet connection. Unfortunately, this isn’t always the case.
Thankfully, there is a solution – pairing the best and most effective portions of KYC and eKYC together to create a safer and more efficient future for us all.
In the end, the growth and confidence in eKYC processes will only continue to rise – something that is especially true if continual data privacy measures are put into place. Pairing mobile document scanning and face authentication, all made available by a single easy-to-use mobile solution, brings a higher level of security to customers and end-users everywhere.
Not only does it help future-proof and protect their data for years to come, but it also instills trust and solidifies the important relationship between businesses and those they’ve dedicated themselves to serving – which truly is the most important benefit of all.