A Comprehensive Guide to Hire the Best Identity-checking Service Company

When a person desires to use his mobile phone to open a bank account. The bank needs to validate his identity throughout the procedure. To accomplish this, the bank will use an identity checking service to confirm that the account applicant is genuine.

For identity verification, data from official databases is compared with personal data, valid government-issued IDs and biometric data. This data is contrasted with the data kept in the databases. Individual Honesty is established when the personal data matches with government identity records.

But what if the data does not match? In that case, it is very necessary to check the identity of every individual. How can you identify which of the numerous identity verification tools available will produce the most precise and trustworthy results? You must examine the system's backup data to make this determination. The best identity verification services company will gather information from people, rely on official sources, and have several data sources for every nation. But, if you are an owner of a small and medium sized business in Colorado, you should hire the best identity verification company.

What to Look for in an Identity Verification Company

You Need Quality Data Sources

Most people are honest and express their original identity. Identity verification companies must ensure that only real persons can pass their examinations. A company that uses an identity verification service provider with a match rate of less than 50% is in trouble. Identity verification services companies that provide a match rate of more than 80% should be your choice.

In some states, there are systems in place to standardize the entry of personal data. Identity verification companies ought to experience higher catch rates as a result. It is conceivable that the data they utilize for validation could be better.

Identity-verification databases must be authoritative, legitimate, and often updated. Identity verification data can come from a variety of sources. These include:

• Credit files
• Records of the government's electorate
• Mobile telco statistics
• Utility databases
• Tax registries of the government
• Databases for the postal service
• Records of the motor vehicle department
• Public registers of the Census Bureau
• Authentic corporate databases

Multiple Data Sources Are Key

Identity verification services providers must check multiple data sources for precise identity search. This is because various databases offer varying amounts of personal data. To discover the best match, an identity verification platform should be able to correlate data from various sources.

The data in utility databases and the registration maintained by the Census Bureau are very different. Names and dates of birth will match with Census Bureau records, but the most recent address may not be available. On the other hand, a utility database is more likely to include current address information than a person's date of birth. Identity verification systems must cross-check the information in several databases to exercise due diligence. The system will then produce the best possible matches.

Check Pricing For an Applicant's Identity Verification Report

Improve Data Entry Quality

In a multi-state environment, it is hard to verify identity. Every state has a different method for entering data. Identity verification companies should consider the format while collecting information from users.

High-quality identity providers will separate data entries to avoid formatting problems. A reputable business will inquire about the user's birthdate, birth month, and birth year in many fields. The business will format the fields according to the user's country of birth before verifying the date in the database. The match rates are directly impacted by this amount of detail.

Improve Match Results

As online business transactions become more prevalent, identity verification will still be a crucial component of those transactions. Businesses are required to stay away from criminals with stolen identities, those attempting to construct synthetic identities, and those on government watchlists.

These people might break the law, which could cost them a lot of fines. Therefore, identity verification is a crucial step when the employee is not present. Businesses should be confident that the people they are hiring are not flawed characters.

Finding a trustworthy identity verification company is crucial to maintaining business integrity. The data used by a company for verification must be from reputable, official and up-to-date sources. It is also essential to check if the data used for matching results come from multiple sources.

Not least, among other things, businesses need to look into how identity providers handle user data. Considering all of this information is necessary when selecting an identification solution. You may choose the best identity verification supplier for your business using these essential criteria.

Screen Your Applicant Now to Get a Complete Identity Verification Report

The Takeaway

As a result of technology improvements, businesses are increasingly turning to digital solutions to suit their customers and their needs. Identity verification has become a mission-critical business operation. Users are more likely to utilize your services when the authentication procedure is simple, and the company gains advantages over time.

EBS Colorado is committed to providing the best solution for identity verification through a hybrid of artificial and human intelligence. The IDV solution offers trustworthy proof of identification while verifying people in real-time between 30 and 60 seconds. It provides a tailored solution that is priced following the requirements and goals of each firm. In conclusion, EBS Colorado is a solution that meets all your customer verification needs.

2023-05-01 13:32:04