The financial services industry includes banks, credit unions, lending, mortgages, insurances, Fintechs, payments, money remittances and money exchange houses, securities broker-dealers, etc.
These businesses must comply with various regulations, including anti-money laundering and anti-bribery, which means they must know their customers and screen transactions for suspicious activity. If they don’t, they run the risk of having to pay multi-million-dollar fines or reputational harm.
Our full-service compliance platform offer financial institutions an efficient way to meet all their compliance responsibilities.
Hiring a babysitter or dog walker has never been more convenient, thanks to virtual marketplaces. Meeting someone new or finding new business connections is also much easier with online communities. However, since these interactions are not in person, they can be risky as well. If you run one of these businesses, you cannot afford not to protect your customers.
A marketplace or community known for making it easy for criminals to prey on their customers is doomed to fail. However, manually checking every identity is not sustainable. An automated user verification tool allows these businesses to protect their communities with minimal resources.
Operators in the gaming industry have to be wary of potential fraudsters; they also have to be stringent about complying with anti-money laundering regulations.
Slacking on either can mean heavy monetary losses. However, automated tools that include robust know your customer and ongoing due diligence capabilities can protect companies from both risks.
Companies like Uber and Lyft have revolutionized the transportation industry. Gone are the days when the only option was a bus or hailing a cab. However, so many drivers on the road increase the potential for criminal activity. For instance, drivers with fake identities put your customers at risk and your company’s reputation at stake.
Artificial-Intelligence powered verification tools that can be used anywhere in minutes keep everyone safe without slowing down your business.
From plane travel to AirBnB accommodations, identity verification is necessary for fraud prevention and protecting others from dangerous criminal activity. However, millions of people travel both for business and leisure every week, translating to inconvenient wait-times and cumbersome procedures for travelers.
ID verification tools that offer facial recognition and know your customer features allow companies to offer customers the very best service, safety, and convenience.
Identity theft, credit card fraud, sanctions evasion, and money laundering – these are all risks that retail and e-commerce companies must mitigate. The cost associated with any of these crimes can put a company out of business. Even if it doesn’t, the loss of customers due to the associated reputational harm may.
With an identity verification solution, you can protect yourself and your customers.
Technology is revolutionizing how we interact with our healthcare providers from telehealth appointments to accessing your health records online. But, because sensitive and valuable information is now stored digitally, it is also a target for insurance fraud, identity theft, and other cybercrimes like ransom schemes.
Automated identity verification solutions offer healthcare providers the ability to process new patients and protect their data quickly. It also can increase efficiency in processing insurance claims, which increases revenue and lowers billing costs.
Telecommunications companies offer customers voice, text, video, and internet data services – all services that are necessary to a digitally connected globe. These businesses are also a growing target for fraudsters, whether it is identity theft or criminals using stolen or fraudulent credit cards to get devices.
An identity verification service offering “know your customer” capabilities and facial recognition capabilities can verify that your customers are who they say they are without sacrificing a seamless consumer experience.
Whether you are a company hiring an online employee or a testing provider offering online proctoring, you want to make sure that the person you are interacting with is who they say they are.
If you are a business, you want to make sure you do not give a criminal access to your company contacts and records. If you are a school or education company, you can’t afford to have your integrity tarnished. The way to protect your business in any of these scenarios is by using an automated identity verification tool.
Facial recognition software and mobile identity verification can change law enforcement by helping them rapidly identify people they are questioning. However, these tools must be accurate. If they are not, someone could be misidentified and accused of a crime they did not commit. Not only does this have severe negative impacts on someone’s life, but it also endangers the public trust in those that there to protect them.
That is why it is vital to choose an identity verification tool that takes this responsibility seriously and takes the necessary precautions to ensure accurate identification.