Stop Losing Money – Says Digital Identity Verification to the Retail Industry!

There has been a major turnaround within the retail industry since the last couple of years regarding buying or purchasing of commodities. This trend has given a whole new direction to the buying process globally. Similarly, merchants, on the other hand, have felt the need of initiating new methodologies to cope with demands of the consumers. As it stands, retailers and merchants are still struggling hard to meet the pace of this new buying pattern. Yes! We are talking about the online buying mentality of the consumers that has penetrated so vigorously that it became an alarming concern for the retail industry.

Since the trend of online buying and purchasing has stepped up to the plate, different kinds of issues started crawling in! Merchants had significant chargebacks since this trend has started which resulted in huge losses to numerous merchants. Now, this is the time when merchants considered it as a danger for their businesses by knowing that it cannot be overlooked. The retail industry has severe concerns on verifying their consumers’ identity which cost them thousands of dollars every year. To better address this concern of the retail industry, digital identity verification comes to rescue! Continue Reading...

Enhancing the travel experience through digital identity verification

There were rumors that transport industry is going to face a lot of identity theft concerns in the coming years and it happened as well. In the auto industry, besides customer's satisfaction and loyalty, security and asset production is of utmost importance. There has been a massive increase since 2013 in identity theft cases within the auto industry. Transport and travel industry has never been secure in the real world, and they are now in need of such a solution that can help reduce the identity theft ratio.

Considering the increased number of frauds in this industry, a quick and seamless digital verification solution must be incorporated into their models. Moreover, the transportation industry has a high-level risk of identity frauds because of old fashioned techniques being used for verifying customer's passport and ID card. This is one of the reasons why auto industry faces more security issues and less credibility within their services. To minimize it efficiently, a digital verification solution would be an ideal option to address this issue. Continue Reading...

Digital Verification – Stimulating KYC for the banking industry

Let us have a short tour of KYC within the banking industry! In 2002, all banks were asked by the regulatory authorities to strictly acquire the personal information of the customers. This was being imposed on them to prevent money laundering, terrorist financing, identity theft and other financial frauds. From that point onwards, the term ‘Know Your Customer' gained more popularity, and later it became an essential element to help banks know their customers.

By assessing the use of KYC within the banking industry, we can be aware of its significance for the banks because knowing about customers makes it easier for them to understand their financial activities. Many banks started implementing various techniques that were meant to improve the strategy for KYC, but the ratio of financial frauds kept on increasing. As we know that banking industry is known to be the most proactive industry that uses the advanced technologies to improve the customer's' experience. Hence, the need for stimulating the KYC process becomes equally important. This need has led the banking industry to make use of digital technology to enhance the KYC experience. There are a couple of advantages for the digitization of KYC which are as follow: Continue Reading...

Digital Identity Verification - Benefitting Healthcare Industry

Healthcare institutions are meant to provide relief to the patients, but there are some managerial lags due to which patients still face difficulties. Looking at the feedbacks of the patients and their experiences, it depicts that the process is overloaded with redundant forms and requests which are previously saved within their system. Healthcare institutions need to have an intelligent solution that can uplift the patient's experience.

Identity verification solution not only helps patients find ease while checking in, in fact, it also reduces the labor cost and minimizes the time usually spent on filling multiple forms. There are some ways through which identity verification solution can help healthcare industry to improve the patient's experience.

There are a lot of healthcare institutes where patients have to wait in long ques to get their data report but, by scanning their ID card or Driving License at the front desk, the doctor can pull up the details of the patient and the past health record already saved within the system. With the digital identity verification of the patient, it becomes time-saving for all the parties involved. Continue Reading...

How ID verification is enhancing corporate security

There has been a major threat of identity theft to the corporate sector because the facts and figures are terrible! According to a survey report from PwC in 2016, such security incidents within the corporate sector rose by almost 33% due to which there was a significant increase in the annual budget of the companies to secure their confidential data. There are some organizations which cannot tolerate the interference of an unknown individual due to high risk data availability within the company. In such cases, corporate sector is in dire need of an intelligent solution that can take care of their visitor management system.

It has been seen in the past few years that such fraudsters target hard intellectual property which is of utmost importance to a company. Considering such threats, corporate sector must need to deploy a system that can overcome these security issues. Currently, 91% of the businesses have already embraced their operational models with some advanced identity verification techniques but there are still a lot of companies who have not paid attention to it. Continue Reading...