Digital transformation has changed the way a business operates. Now, individuals and businesses can improve their operations when it comes to customer reach, customer experience (CX), resource management, and more. This process is used by companies to remake their businesses. The goal is to be more efficient and more profitable. But of course, with increasing technology, cybercrime is increasing as well. This is the reason why it is not easy for businesses to establish trust online. In order to minimize cybersecurity issues, a strict identification, verification and authentication process must be enforced within an organization.
These three words identification, verification and authentication are often used equally, but it is very important to know and understand the differences. Since they offer a variation of approaches in keeping your resources and systems safe from criminal activities like identity thefts and data breaches. Each of them has their own unique part in identity verification.
When it comes to identification the question is: “who are you?”. So, if someone claims to be a particular person, he/she presents his/her ID document including a picture and personal data such as a driver’s license. The identification process varies in the matter of online transactions. Here, the users complete the identification by themselves after entering their names, contact numbers or email address on a web form. Credit card details and billing address have to be provided when the consumers are buying something online. Identification alone does not eliminate the risk of identity-related fraud. This is why verification plays a big part in establishing safety.
Verification takes it to a higher level. Now, the question is: “Are you truly who you pretend to be?”. Automation data extraction, machine learning technology and human experts are necessary in order to confirm the validity of the ID document.
The process of verifying someone’s identity in the safest way possible requires a huge amount of technology know-how. So, more businesses are in need of a professional identity verification service. ID verification has always been important for all types of businesses. But it is mandatory to verify your customers’ identities in the finance industry. After a successful identity verification, users need to re-confirm whether they are the same people who have registered. This is where the authentication process begins.
An authentication process must be performed each time a person tries to get access to the system. An example for identity authentication is asking for the password for an individual username. But this case is for low-risk businesses, whereas the majority of authentication systems depend on three types of authenticators. These include a password or security question, biometric data and facial recognition of the user as well as an ID badge or cryptographic key.
The first two types of authentication are not considered safe enough due to today’s digital world. People post a lot of private information in social media which makes it easier for cyber criminals to use this data to get access to your systems. This is why advanced real-time identity verification plays the biggest part in establishing safety.
Let’s get you a smooth, smart and secure liveness detection, facial recognition and ID verification with identify’s advanced identity verification technologies.
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