Online Identify Verification – Why It’s Important
Online Identify Verification – Why It’s Important

Online Identify Verification – Why It’s Important

All around the world, more and more people and companies are carrying out day to day activities online. These activities include everything from communications to transactions. This trend brings with it convenience but also risks. Perhaps the largest of those risks is the difficulty of carrying out identify verification.

Activities That May Require Identify Verification

Here are just some of the activities that are becoming increasingly common to do online:

  • Online Shopping
  • Personal and Business Banking
  • Utility Bill Payments
  • Stock Trading and Personal Retirement Accounts Management
  • Business to Business Purchases
  • Remote Work Assignments

All of these are becoming more and more ubiquitous. While anyone might expect to show an ID card to cash a check, use a credit card, or enter a work place that grants access to sensitive data, verifying identity online can be a bit more complicated. As these trends accelerate, it can only be expected that bad actors will also accelerate their attempts and tactics to exploit weaknesses. That is why identify verification is more important than ever, and businesses need it to ensure their own, their customers’, and their employees’ security.

Electronic Identify Verification

Moving forward, companies will need to develop their electronic identify verification capabilities. For consumer facing transactions, doing so will let consumers feel more comfortable conducting their business online without worrying about identify theft or fraud. Meanwhile, companies can be sure they are not allowing any fraud in their transaction and will also protect outsiders from getting access to sensitive material or communications, preserving their intellectual property, trade secrets, and innovative ideas from competitors and bad actors.

Verifying identities online works similarly to identify verification in person. Forms of identification are simply transferred to an online environment. Rather it be using a form of electronic identity, or connecting a form of electronic identity verification to an actual scanned copy of a physical ID such as a passport, digitally verifying identity will help ensure the person carrying out the transaction or accessing the sensitive information is in fact who they say they are. Robust identify verification solutions will help keep all types of businesses secure in the 21st century.