How Can Identity Proofing Make Every Business Global?

How Can Identity Proofing Make Every Business Global?

In most countries, identity verification is mandatory to start and register a business. A developing sense of security, compliance with laws and regulations, and increasing global repute are just some of the advantages companies gain following identity proofing.

The covid-19 pandemic has majorly transformed the way we conduct business. Traditional processes of physical verification have been replaced by digital verification wherever possible. That has allowed the continuity of various businesses without the need for actual in-person contact. As such, finding new techniques of ID verification, mainly through the introduction of various online platforms, is on the rise. That has made the task of identity proofing much easier for businesses.

What exactly is identity proofing?

Identity proofing is a popular term, which essentially means authenticating an individual’s identity mainly through a remote channel, i.e., digitally. Technological advancement has revolutionized the ways of identity verification and proved beneficial for newly emerging businesses. Identity proofing is essential because it helps to establish that someone is actually who they say they are.

Identity proofing usually involves two aspects: public and private. The public aspects include data such as name, address, date of birth, etc. that are all available in the public sphere. The private aspects include an additional layer of verification based on data that only a particular person can provide about themselves.

Why is there a need for identity proofing to make your business global?

Rapid technological development has made it easier for people to produce fake identities and get away with anti-social activities. Risks of fraud, non-payment of dues, and the inability to meet regulatory measures are not unheard of. Companies are also vulnerable to frequent cyber-attacks if their ID verification lags.

A study by Accenture reported that there was a 31% increase in cyber-attacks per company in the year 2020 alone. Introducing an effective digital verification system will eliminate these risks and provide a secure way for companies to carry out business.

Given below are some benefits of digital identity proofing:

Identity verification makes business functioning convenient, easy, and more accessible. It builds a sense of security and develops trust among those dealing with the business – either directly or indirectly. Online ID verification by businesses can prove beneficial in the following ways:

  • Best to avoid in-person contact: 

Online verification reduces crowds and prevents the spread of harmful diseases (especially covid-19). Unlike paper-based verification, digital verification can be corroborated remotely over digital channels and in even lesser time.

  • Reduced expenses for the company:

Digital verification eliminates the usage of paperwork, therefore reducing the costs involved in photocopying, storing, or printing data. Everything is online so businesses can save money in these aspects.

  • Enhances ease of verification:

Nowadays, everybody has a digital copy of their important documents like passports, ID cards, driver’s licenses, etc. For digital identity proofing, all that is required is a stable internet connection, and within a few minutes, the process can be completed. That reduces the hassles involved in physical identity proofing.

For a reliable and efficient digital authentication solution, you can trust Accura Scan Our digital ID verification software is secure, safe, and seamless, reducing fraud risks. For any queries, call us on +91 820-898-8751 or visit our website.