Identity proofing or identity verification allows you to access facilities and amenities by using your identity. When your claimed identity is checked to match your real identity, it is identity proofing. For many people, the process seems overwhelming; it is the most reliable solution.
According to recent studies, 3.4 million data fraud cases were registered in the USA in 2019. In the digital world, identity authentication is the only way to safeguard human identity. And here, we will discuss the necessity and the process of identity proofing in detail, so keep reading.
What is identity proofing?
Before we discuss the necessity of identity proofing or the process of identity verification, let us briefly talk about identity proofing. It will help you understand the concept better.
Identity proofing has become a trivial part of the current lifestyle. You can face identity proofing in shopping places, restaurants, workplaces, schools, etc. The process of matching someone’s claimed identity with their true identity is called identity proofing or identity authentication.
How to verify?
Knowing how to implement robust identity verification and authentication helps to strengthen data security. Javelin’s identity fraud survey in 2020 shows that the total expense of fraud cases in 2019 has reached 17 billion USD.
Identity verification means checking customers’ identities and ensuring they are giving the correct information about the identity they are claiming to be. The main aim of identity verification is to prevent fake users from using false identities or someone else’s identity.
Steps to verify:
- Ask for identity proofs like birth certificate, voter ID, driving license, photo identity proof, etc.
- Match with the pre-given identity proofs.
- Send verification code to the client’s registered mobile number/email ID.
- Confirm verification code from the registered number/email ID.
The verification procedure is used in cases of both in-person and online platforms for identity authentication. And any small or large-scale organization can use the identity verification method to ensure zero trespassing and maintain a clean and safe client database. Verification is also essential to carry out a smooth KYC or ‘know your customers’ policy in various organizations.
Private and Government authorities can use identity verification methods to know about their users and who are entering their organization/website.
The necessity of identity proofing
Identity proofing, verification, and authentication are the essential steps to secure yourself from data theft. In current times, cases of data fraud have increased significantly over the world.
With the digitalization approach, data theft or fraud increased rapidly soon after Covid 19. According to the FTC report, American citizens have lost more than 77 million USD due to fraudulent COVID -19 schemes in 2020.
- Provide secure access –
Data theft has hampered both the users’ and the service providers’ peace. In recent years, many people have issued complaints against data fraud. The stolen data were used to access a specific service or enter any local network territory/ database.
Many small to large-scale businesses face huge drawbacks due to recurring fraudulent activities. Customers believe that keeping their data safe is more on the service providers than on themselves.
Therefore, service providers like e-commerce, social media, and banking facilities need to strengthen their security systems and incorporate identity verification, identity authentication, and proofing methods. It will help them to provide secure access to their users.
- Defeat cyber criminals –
Cyberspace is a sensitive place, and many cybercriminals are always planning new methods to breach the data of individuals and businesses to get benefits. Cyber crimes increased significantly with the rapid growth of digitalization.
According to recent surveys, large-scale organizations like e-commerce or banking authorities failed to prevent cyber crimes despite implementing different security methods. These days, cybercriminals are becoming more intelligent and are using complicated ways to trap big-scale businesses.
They are hard to detect and prevent by old data security systems. Identity proofing or identity authentication solutions that can change with changing patterns of cyber threats can outsmart cybercriminals.
- Reliable customer database –
Building a reliable customer database is essential for every business. The identity proofing methods can be very effective in securing clients’ databases and preventing fraud access to their services.
Companies can use identity authentication or verification solutions to ensure that only verified clients can access the system or service. Using biometric verification or age verification solutions is highly effective in securing clients’ databases.
- Making payment getaways risk-free –
Payment-related activities, especially transactions on online platforms, are prone to cyber threats or data fraud. Today, even the most renowned and leading businesses fall prey to this fraudulent activity.
Using an identity-proofing solution is quite profitable to reduce fraudulent activities and make payment gateways safer.
Identity proofing is a modern solution for data security. Also, identity verification and identity authentication solutions with identity proofing enable us to access various facilities like online banking, remote account opening, online shopping, and many more.