Top 5 Online Identity Verification Methods: A Quick Guide

Is the safety of personal information your prime concern? 

As a CMO or business owner, navigating the world of online identity verification methods can often seem intimidating. You want to ensure that your customers and users are protected in the digital age, but with so many available solutions out there, which one should you choose?  

It is crucial to find ways to ensure your customers feel safe while accessing your business. Gone are the days when verifying someone’s identity meant a face-to-face process and a stack of paper documents. Today, we live in an era of high technology where identities can be verified quickly, securely, and conveniently with just a few clicks. 

As a marketer or business owner tasked with protecting your customers’ data, you must understand the significant online identity verification methods available and how best to use them. This piece will discuss the top 5 popular online identity verification methods everyone should know! 

Let us explore everything from traditional forms of verification to modern biometric solutions so that you can decide which method suits your business’s needs. 

The Threat of Identity Fraud  

Identity fraud is a real threat these days. We are all aware of the rise in online scams and hackers stealing personal information and the importance of protecting one's personal information. With everyone's personal information readily available online and the increasing ease of access, it's no wonder people are increasingly falling victim to this crime.   

That’s why ID verification technology is becoming increasingly important. Given the growth of online crime, companies need to set up reliable and robust online identity verification methods. Companies need to be able to verify that the person they are dealing with is who they claim to be, and technology can help them do just that.  

Moreover, consumers want to know that their personal information is secure and that companies are taking the necessary steps to protect it. So, whether you're a business owner or a consumer, the importance of ID verification technology cannot be overstated. 

Top 5 Most Popular Online Identity Verification Methods 

1. Biometrics 

Biometric verification is a method of online identity verification that uses unique human traits, such as facial features, voice, or fingerprints, to authenticate users. This method has been used in government and law enforcement agencies for several years but is now widely available commercially. Biometric verification is a secure and reliable identity verification method that reduces fraud risks. 

2. Verification Through Government-Approved ID

Many businesses prefer this type of online identity verification solution. Why? Because government IDs are the most trusted and authentic source of documentation. That’s where government-approved ID verification comes in. This method is especially used by age-sensitive industries such as casinos, bars, clubs, etc., to ensure the customer’s identity can be verified per government documents.  

With so much sensitive data at risk, it’s essential to take every step possible to ensure that your personal information stays private. Moreover, an approved ID can also help make online transactions smoother and more secure. Remember, it is always safe to have a trusted government-issued ID, which is necessary if you’re signing up for a new service or verifying your account.  

3. Two-Factor Authentication (2FA) 

Two-factor authentication (2FA) has become the norm for many online services globally. The 2FA process adds an extra layer of security by requesting users to provide a secondary form of identification, such as sending a code to the customer’s mobile phone. 2FA helps protect accounts from unauthorized access and prevents hacks, making it an essential method for online identity verification.  

4. Knowledge-Based Identity Verification Method 

KBA (knowledge-based authentication) is a method that requires users to digitally answer a series of questions based on their personal information, such as their date of birth, address, or telephone number. This method requires users to provide information that only they would know, making it a secure method of identity verification. Financial institutions and government agencies widely use knowledge-based authentication.  

5. Document Verification 

Document verification is a widely used method of identity verification in the online world. It requires users to upload an identity document, such as a passport or driver’s license, for verification. Document verification can also be done through facial recognition technology, where the user takes a photo of themselves along with their identity document. This method is widely used across various industries, from financial services and health care to eCommerce platforms.  

Why Invest in an Identity Verification System  

Let’s ask you this: Do you want to protect your business from fraud? If the answer is “an absolute yes,” then you have come to the right place. Investing in an identity verification system could be the solution you’re looking for. This system verifies the identity of your customers, making sure they are who they say they are.  

This way, you can prevent fake identities from accessing your services or purchasing products with stolen credit cards. Not only does this protect your company from financial loss, but it also helps maintain the trust of your customers.   

Nobody wants to do business with a company that doesn’t prioritize their security. So, consider getting an identity verification system for your business, and rest easy knowing that you’re taking steps to keep your customers and your company safe.  

Let's face it! We live in a time when identity theft and fraud are rising. With an identity verification system in place, you can be assured that you are reducing the risk of fraudulent activity and protecting your business and customers. Plus, it's a beautiful way to show your customers that you take their security seriously, which can help build trust and strengthen your reputation.   

Now is the time if you haven't considered investing in an identity verification system. 

Conclusion 

It's clear that online identity verification technology is a must when it comes to protecting your customers' identities. Online solutions have significantly advanced in recent years and now offer a more secure, convenient, and cost-effective method of identity verification than ever before.    

Taking advantage of the latest technology can protect your business from potential legal issues or financial losses incurred from unauthorized access to customer data, so don’t wait—experience online identity verification software with FTx Identity today! To get started, get in touch with us today to set up a consultation with one of our experts and experience a demo!