Digital identity verification solutions buyers guide

July 23, 2019

How to evaluate and understand solutions for creating and protecting trust in digital channels using ID documents combined with biometrics

Digital identity verification solutionBuilding trust in the digital channel

First, consider that trust has become the fuel that drives the digital economy. It’s the foundation for great customer experiences. In fact, lack of trust has the potential to kill a brand: 48% of consumers say they will abandon a brand in the event of a known data breech.

Businesses that operate in the digital economy – be it brick-and-mortar businesses or digital marketplaces and sharing platforms – need to ensure that their users are who they say they are. A variety of identity verification solutions and methods are available to businesses, and every digital identity verification method provides different levels of reliability in terms of distinguishing bad actors from good customers.

Balancing security and convenience

One attribute they all have in common, though: Each method also introduces, to one degree or another, a speed bump in the customer digital onboarding experience. And while companies are challenged to balance customer convenience with security and fraud mitigation, digital experiences ultimately need to offer businesses and the end-user both confidence and expediency. Digital disruptors like Amazon, Airbnb and Venmo have led the way in investing in the digital channel, creating simpler, faster and more personalized experiences for customers – but with these opportunities come a degree of anonymity that fraudsters can exploit. You’ll want to evaluate your options based on friction and assurance level and all of the different techniques that achieve the balance that you want.

Evaluating your options

We’ve recently put together this guide designed to help you frame the right questions, evaluate the options, and choose a solution that is suited for your business model. Let us help you weigh your options when comparing various vendor solutions in the market today.

Download the buyer's guide