Elly Yates-Roberts |
While the pandemic saw businesses clamouring to get online, they weren’t the only ones. Fraudsters and cybercriminals also became increasingly active in the digital space.
Today, it’s more important than ever that organisations confirm the identity of those they are providing goods and services to. The answer is to use automated identity verification (IDV) technology that seamlessly integrates with Microsoft products. It’s by far the quickest, most accurate and cost-effective way to deliver ID in the online world. But what are the options?
The best place to start is to use an automated electronic ID verification (eIDV) service that supports cross-checks against an individual's contact data in real time, as they complete an online application process. They also help to ensure that there is no compromise in the user experience.
By using an eIDV service that matches the name, address, date of birth, email or phone number against reputable data streams such as records from government agencies, credit agencies and utility providers, it’s possible to effectively confirm the ID of an individual.
In conjunction with eIDV, automated biometric technology that uses optical character recognition plays an important role in verifying identity, without the need for time-consuming security questions and passwords. Such a tool can check the validity of ID documentation in real time.
Alongside these solutions, there are now services available that can provide and automatically update all global sanctions data from governments and international bodies. This is more important than ever with the large number of sanctions being announced against Russia and Belarus, and provides businesses with further security information about potential partners and individuals.
Confirming the identity can be an arduous process, particularly when done manually. Manual checks are more time-consuming and costly than automated ones and can also introduce the risk of human error.
The accuracy, speed and cost benefits offered by the automation powering eIDV, biometrics and sanctions lists are far superior to any manual approach, and provides a fully auditable pathway should that be needed for reference. This is why the focus must be on automating ID verification today and in the future.
Barley Laing is UK managing director at Melissa
This article was originally published in the Summer 2022 issue of Technology Record. To get future issues delivered directly to your inbox, sign up for a free subscription.