Several companies have regulations and requirements for identity verification. Online verification can fulfill KYC (know your customer) compliance requirements, such as having a Customer Identification Program for financial companies, by working to combat fraudulent or synthetic identities. Verosint partners with the following identity verification platforms for fraud protection against your riskiest accounts.

See each site for more information, or contact Verosint to sign up.

With an account from either provider, you can configure Verosint through the Account -> Settings page. You can then configure Workflows to PROOF accounts, adding identity verification as an outcome. Adding this layer at sign-up or registration can simplify future transactions for customers.

Using Identity Verification with Authentication

Identity verification and authentication are two distinct processes, often used together to establish trust and secure online transactions.

Identity verification is the process of confirming an individual's identity by establishing the accuracy and validity of various identity attributes, such as name, age, address, and other relevant information. It ensures that the person claiming an identity is who they say they are. Identity verification typically involves verifying identification documents and conducting background checks.
Authentication is the process of verifying a user's identity during a specific session or interaction using credentials, such as usernames, passwords, and device or service information. It ensures that the user attempting to access a system or perform a transaction is the same individual verified during the identity verification.

Identity proofing can be costly and add significant friction to users' login flow. You don't want to require users to go through the proofing flow too often. However, if identity and fraud checks are insufficient, your business is at a greater risk of becoming a victim of fraud. It's essential to strike the right balance to challenge high-risk events while not wasting time and money by proofing too frequently.

Adding Fraud Detection and Prevention - Verosint

Adding Verosint's fraud intelligence and risk analysis, identity verification can be used only when you need it. Verosint incorporates users' history through SignalPrint and Explorer to “remember” them. Identity verification is added as part of the PROOF outcome in Workflows. When a user completes a proofing flow, Verosint generates a VERIFICATION_SUCCESS event for that account with all data from that event. It is then labeled a “Verified Print” in SignalPrint. With this label, you can write rules that apply less friction to an account when it matches the profile of a verified print.