How identity verification Protects All Types of Businesses
Online sales and revenue from digital resources might be jumping up for businesses of all sorts, but it has created a new menace for such companies as well. Online frauds and customers using fake credentials to buy services and products have also gone up substantially. Identity verification services seem to be the only viable solution to fight off these high-risk anomalies, in an otherwise profitable world of online sales. Despite having the ability to cut down on major losses originating from identity thefts and online frauds, businesses are really not sure that whether they really need identity verification services or not. But in below lines that how the major amount of businesses should be availing KYC verification and Identity verification services even if they are not selling their services online.
A system of Trust
Identity verification system creates a system of trust and legitimacy among the users and business that they are registering with. It means that every other user of the platform was made to go through similar motions to ensure their identity as well. It creates a sense of responsibilty regarding the business practices of a company and how they take the safety of their resources very seriously. So whether it is a online gaming portal or an e-commerce website for 0-5-year-olds, a quickly performing KYC verification is something that will help a company to cultivate a system of trust that will lead to not only brand awareness but customer loyalty as well.
Price Vs. Risk Debate
Identity verification services are considered by many businesses as a burden over their revenue sheets. But any sane business manager will tell you this: a service that reduces the overall risk posed to your business is not a business overhead but an invaluable investment for your business. Same can be safely said about identity verification services. The amount of money spent on verifying the identities of users is substantially lower as compared to the losses that a business without KYC verifications might have to face.
Flawless Data Security
Many businesses are concerned about the safety of their customer’s personal data that makes them reluctant to bring onboard a third party verification services such as Shufti Pro. But with modern age encryption protocols and secure data transfer gateways, it has been made possible to ensure the safety of customer data without getting bogged down by constant data breaches. Shufti Pro itself has PCI certification which is a testament to the strict adherence of this KYC service provider’s commitment to data security. Furthermore, Shufti Pro is a GDPR compliant entity which requires companies to fortify their data protection protocols for the personal data that they have collected from their users for explicit reasons.
Identity verification services are not the thing of the future but they are the need of every modern-day business that is tired of encountering users with fake credentials and surely there is no better option then AI-powered verification services of Shufti Pro. Global language support, proof of verification, OCR based data extractions and ability to verify any official document of the world along with Facial recognition makes it the perfect choice for companies around the globe that want to integrate a reliable KYC system with their online and digital resources.