Digital Identity Verification

What is digital identity verification?

Digital identity verification is the process of confirming the identity of an individual digitally, using online forms, biometric data, and electronic documents. With recent advances in technology, digital ID verification has become more and more common as transactions and interactions take place online.

Digital identity verification plays an important role in preventing fraud. In the past, fraudsters have been able to use stolen identities to open bank accounts, apply for loans, and make purchases. This method makes it much more difficult for fraudsters to use stolen identities, as it requires them to provide detailed personal information and documentation that has to be verified electronically.

How is identity verification done digitally?

Several methods can be used to digitally verify an individual’s identity, which is generally used in combinations,

1. Digital document verification: This method involves collecting government-issued electronic documents, such as electronic ID, and verifying that the signature, document number and expiration date are valid. This can be easily done using a smartphone’s camera to scan the identity document and use the scanned identity data for further verification.
2. Biometric verification: This refers to the process of verifying an individual’s identity using biometric data, such as fingerprints, facial recognition, or iris scans. Biometric verification is a highly secure method of verifying identities since a person’s biometric identity is unique and hard to replicate.
3. Liveness detection: This method is used to ensure that the person being verified is physically present, and isn’t using an image or video. Liveness detection helps to prevent spoofs from being authenticated to a secure system and thereby protects from fraud.
4. Two-factor authentication: 2FA is a method of identity verification that requires users to provide two forms of identification to verify their identity. Adding an extra layer of security over traditional single-factor authentication, 2FA greatly reduce the chances of identity theft and fraud.

What are the benefits of digital identity verification?

Verifying identities digitally has numerous advantages some of which include;

1. Increased security: Digital identity verification makes it more difficult for fraudsters to use stolen identities, as it requires them to provide detailed personal information and documentation that has to be verified electronically.
2. Compliance: It helps organisations comply with regulations and laws that require identity verification, such as anti-money laundering (AML) and Know Your Customer (KYC) regulations.
3. Convenience: Digital identity verification makes it easier for individuals to access services and products that require proof of identity, such as opening a bank account or applying for a loan, by allowing them to do it online.
4. Cost efficiency: Since digital identity verification reduces the cost of in-person verification and manual data checks, it is a cost-effective alternative to manual identity verification.
5. Enhanced customer experience: By reducing the need for multiple forms of identification, digital identity verification enhances customer experience and makes it seamless. 

How does uqudo’s digital identity verification work?

Going beyond the traditional identity verification process, uqudo will help you uplift your onboarding process by making it faster, more compliant and cheaper. Our frictionless and compliant identity verification process can be fully customised according to your requirements and consists of;

1. Step 1 – AI Document Scanning + OCR: Use our powerful AI document scanner to quickly read and extract identity data from documents.
2. Step 2 – Face Verification and Liveness Detection: Verify if the user on the camera is real and not a spoof and matches the document.
3. Step 3 – Identity verification: Once the user is identified, access government repositories to verify their identities.
4. Step 4 – Screening: Check if the individual is worth doing business with, using AML, sanction, PEP and adverse media screening.
5. Step 5 – Passwordless login: Once a user has been onboarded, let them log in to your platform using biometrics or FIDO2 authentication.

Get in touch with our team to learn more.