eCommerce | Shufti Automated KYC Checks to Reduce Drop-Offs

Making sure your customers are actual people: the IDV challenge for eCommerce marketplaces

Successful dating sites, vacation rental businesses, rideshare companies, and other eCommerce marketplaces all depend on one thing: they need to know their customers are real people. For eCommerce businesses that sell automobiles and even homes, transaction trust and IDV becomes even more crucial.

Technologically savvy fraudsters are a growing threat for eCommerce sites. They use emergent technologies like deepfakes to create false personas that evade conventional identity verification practices. Or they exploit vulnerabilities that allow them to impersonate a user and buy high-ticket items such as an automobile, leading to chargebacks once the fraud is discovered. Impersonation on a marketplace site is just as dire. If a person on a babysitting or pet sitting site is not who they say they are, that leads to irrevocable reputational damage that can easily lead to the shutdown of a marketplace.

Many IDV solutions are cumbersome and time-consuming, and these inconveniences make it difficult for eCommerce marketplaces to thrive. For an IDV solution to be effective, it must continuously adapt to new unique eCommerce marketplace fraud, integrate with a multitude of devices, work within several different industries, and reduce fraudulent activities.

Break through industry
challenges to achieve your
organization’s full potential

Reduce risk exposure and grow your business through powerful IDV technology

Shufti’s simplified user interface typically completes user verification within seconds, resulting in fast and hassle-free onboarding with customer satisfaction rates of 98%. Our reach spans over 240 countries and territories and 150+ languages, ensuring you can verify customers from all over the world. The end result provides a superior customer experience while keeping your business secure and thriving.

Build trust across the entire eCommerce landscape

Transaction trust is the foundation for all electronic exchanges. Shufti employs device fingerprinting technology to identify devices in real-time, enabling eCommerce merchants and marketplaces to take advantage of AI algorithms. Customer accounts are also protected with an additional layer of data (such as a unique device ID) to validate the identity of an online buyer. These attributes safeguard your users and your business from reputational damage.

Enhanced AI-driven tools help reduce identity fraud

Expertly-deployed IDV solutions help companies prevent a wide range of fraudulent activities. For example, Shufti's multi-layer authentication services include facial recognition, document verification, and liveness detection. Advanced IDV tools that can thwart identity thieves include due diligence forms and multilingual OCR data extraction.

How it works

Verify users

Users begin the verification process by uploading documents such as passports, driver’s licenses, and national ID cards. Shufti uses liveness detection, 3D technology, and facial expression analysis to ensure the user is a real person. For countries that require a live KYC session, Shufti makes it easy to create real-time video verification. Shufti also makes it easy to reuse stored identity data with multiple verification options (including FastID).

Verify identity data

Shufti’s due diligence forms allow you to collect user data with predefined or custom industry models to ensure regulatory compliance. As part of the verification process, we make it easy to verify a user’s age to Identify minors and restrict their access to protect your business from non-compliance fines. Shufti also extracts address information from multiple documents with sophisticated OCR technology to ensure the accuracy of all provided addresses.

Assess risk

Shufti rapidly evaluates user identities for any associated risks using our AI-driven platform. Our reach spans over 240 countries and territories and 150+ languages, ensuring global verification that checks applicants against 1700+ global watchlists to mitigate fraud.

Screen transactions

Shufti employs AI-enhanced device fingerprinting technology to identify devices in real-time. Customer accounts are also protected with an additional layer of data (such as a unique device ID) to validate the identities.

Unlock opportunity with next-generation capabilities

Document Verification

Use advanced data extraction and AI-powered verification to process 10,000+ document types worldwide rapidly.

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Facial Biometrics

Leverage advanced facial mapping and deep fake detection for secure customer identity confirmation and authentication.

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eIDV

Verify customers remotely and paperlessly using e-IDs checked against government databases for quick, accurate results.

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Business AML Screening

Screen businesses against PEP lists, sanctions watchlists and monitor media databases to support know your vendor, trader, or supplier requirements.

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Investor Verification

Quickly and accurately vet investor identities and credentials to establish trust and achieve compliance with AML and CFT directives.

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Transaction Trust Screening

AI-driven decision-making empowers companies to deliver low-friction interactions, ensure compliance, and confidently conduct high-value transactions.

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