In the emerging world of FinTech, where convenience, efficiency, and accessibility remain a top priority for industry leaders, validating user identities with as little friction as possible is important. Nevertheless, businesses face the difficult situation where they must decide what to do when a user produces an ID from a different country. How can your business validate customer identity while providing a frictionless customer experience?
IDMERIT has developed IDMvalidate, an identity verification and authentication solution that provides next-generation consumer identity service. These two strategies are very important and necessary to protect your business from identity fraud and keeps it compliant with government security regulations.
However, if verification and identification procedures take too long, are too tedious or too scrutinizing, the customer may feel uncomfortable and take his or her business elsewhere. Therefore, it’s important to implement verification and authentication procedures that are thorough and accurate while still respecting the privacy of the consumer and preserving transaction convenience.
Tony Raval, CEO of IDMerit, states that to effectively fight fraud, authentication of consumer identity has been found to be a critical part of a tight and secure online experience. He continues to acknowledge that “so far ID authentication algorithms have been slow, error-prone, and involve manual intervention. IDMvalidate is designed to address all these and many other issues and is now the best and most efficient global ID authentication solution available on the market today.”
He continues, “For example, our solution can authenticate and verify government-issued identity documents in online and offline conditions. It is a part of several identity fraud solutions that IDMERIT has created which offer fraud detection before it happens. IDMvalidate has set the pace for how to provide instant ID authentication results for embassies, banks, cryptocurrency exchanges, financial institutions and anyone else who wants to undergo a primary second-source verification.”
IDMvalidate has the capacity to extract data from an ID and verify it with a person’s country of origin government database and send it to a live in-country database. It can be used in a variety of systems including desktops, mobile phones or tablets. Using an extremely user-friendly interface, an identity document is scanned and checked against government and in-country databases and delivers a “legitimate” or “fraudulent” determination in just a few seconds.
Identity documents that can be scanned by IDMvalidate include:
- National IDs
- Driver’s Licenses
Truly global-ready, IDMvalidate can process over 20 languages including some of the most complex such as Arabic, Kanji, and Korean.