Virtual identity: a priority for companies

Why is virtual identity important?

We live in the digital age and the integration of virtual identity verification services has become a fundamental aspect in various economic sectors.

This innovation opens new horizons in the commercial, financial and social fields, overcoming traditional physical limitations. The need to securely verify identity has become crucial, as the line between physical and digital life has become thin and almost indefinite.

From customer and employee onboarding processes to financial transactions, from cybersecurity to regulatory compliance, implementing virtual identity verification services becomes a key element in ensuring secure transactions, protecting sensitive data and promoting a reliable and efficient digital environment. The integration of these services proves essential to face modern challenges and capitalize on the opportunities arising from growing digitalisation.

If you don’t yet have a virtual identity provider, now is the time to find one to improve your business.

Finding the right provider is crucial because online identity verification is a crucial part of modern business operations. But be careful, not all solutions are the same, and choosing well is essential to achieve maximum efficiency for your business.

In this article, we will explore the most important features to consider when choosing the perfect IDV supplier for your business, they are not the only ones, but they can be an excellent starting point.

Economic Sustainability

Product scalability is a fundamental key point for efficient collaboration. A decision made based on current needs may prove inadequate in the future if the solution cannot scale to handle higher testing volumes. Cost-effectiveness is crucial, avoiding wasteful solutions that could become restrictive as your business develops.

Data Protection

While processing personal information, security is of primary importance. It is not sufficient for an IDV provider to offer the Onboarding service, but it must comply with data security certifications and standards, such as GDPR and ISO 27001 certification. Lack of compliance would expose your data to risks of fraud or counterfeiting, with serious consequences for your company.

Fraud Prevention

A robust IDV solution should be able to identify and prevent fraudulent activity in real time, including identity theft, account takeovers and contracts based on fake or non-existent identities. This will protect your company’s assets and reputation from financial loss.

Flexibility

Make sure the solution is flexible in adapting to the specific needs of your business and supporting various use scenarios.

User experience

User experience plays a crucial role in the success of the e-KYC process. Thoughtful design that takes into account efficiency, transparency, security and trust can significantly improve user satisfaction and regulatory compliance. Clear instructions and a well-structured workflow facilitate the collection of the information necessary to comply with regulatory requirements and laws. A smooth e-KYC process can increase customer compliance by encouraging the use of services that offer seamless registration and identity verification.

Innovation

Check whether the supplier adopts innovative technologies and can evolve with market dynamics. Technological innovation in eKYC providers is essential to ensure security, accuracy and efficiency in digital identification processes, addressing increasingly complex challenges in the technological and regulatory landscape. The use of advanced technologies such as real-time facial recognition, liveness detection to verify the subject’s vitality, and anti-spoofing to prevent photo or video fraud help to create more sustainable, scalable, secure and efficient solutions.

Conclusion

Exposing your company to security breaches, damaging your reputation and causing financial losses. Additionally, a poor user experience could lead to customer churn, hindering growth and profitability.

Invest in the future of your company by choosing the right IDV supplier today, guaranteeing safety, efficiency and regulatory compliance.

Talking about Cyberneid

We are a virtual identity verification startup that helps companies establish trust with their users and fight fraud of any kind. Using artificial intelligence and electronic identity verification, through face recognition, liveness detection and biometric recognition, our products aim to provide a complete solution to the problem of identity theft. Thanks to these cutting-edge tools, individuals and companies can better protect themselves from the risks posed by identity theft.

Cyberneid has so far certified over 1.5 million electronic identities and signed more than 2 million documents. Applications released on app stores have reached over 2.5 million downloads. Cyberneid’s offering stands out for its extreme flexibility and adaptability to the customer’s business model. Our service integrates completely with the processes already in use by the customer, without creating additional difficulties. Thanks to a simplified and seamless user experience, everyone can use our services with an abandonment rate of less than 1%.

Take a look at our products: