Use of Biometrics for Improved Onboarding Experience

The pandemic has changed a lot of ways we do basic activities. The retail space, banking, education, hospitality, and several other industries took the brunt of the pandemic. Fortunately, the reliance on technology improved how we used to do basic activities. These technologies have specifically increased the efficiency of customer onboarding and employee onboarding. So, […]

US Digital Banking Revolution: Importance of Digital Identity

While most of the banking landscape across the country was on track toward a successful digital banking revolution, the Covid-19 pandemic fast-tracked the process. Regardless, some parts of the US financial industry are still operating in the dark. As the United States is often at the forefront of many things, it doesn’t make sense that […]

Understanding Electricity Bill Verification

Businesses should never undermine the importance of utility bill verification. Electricity bill verification is the first and foremost step in an exhaustive identity verification process, especially for companies dealing with financial data. The threat of identity theft is ever prevalent in the industry, and the only way to keep customers and businesses safe is with […]

What is Open Banking, and How Will it Impact You?

Open banking is pretty simple yet completely innovative, it lets you share your bank data with other companies with limited problems. Open banking APIs or the overall process is designed in a way that provides more security and reliability even while using basic financial services like Venmo or Robinhood. With the widespread adoption of open […]

Understanding NFC Payments: The Complete Guide

Near-field communication (NFC) uses radio waves that are similar to radio frequency identification (RFDI), to read and send information between two NFC devices. NFC technologies are mostly used in warehousing labeling and they’re incredibly helpful in tracking applications for simple inventory scanning of shipments, products, and customer orders. NFC is even used in automated toll […]

What Risks Cryptocurrency Holds to Financial Institutions and the Regulatory Landscape?

Cryptocurrency is a digital currency that’s intended to be used in buying or selling goods and services. Cryptocurrency comes in multiple forms, and it can disrupt the financial institution. As the utilization of cryptocurrency increases, so do the risks to the financial industry. The risks may include fraud losses and regulatory compliance. Fortunately, the Anti-Money […]

Employment Verification: Step-by-Step Guide

There are several instances where companies will be asked or will initiate a request to verify an individual’s work history and other details associated with their current or past employment. This process is known as “employment verification.” The hiring process is when most companies do verification of employment, and the process includes professional reference checks. […]

ID Verification and Optical Character Recognition

There’s a major change going on in the industry, DIY online identification, and efforts by companies to combine OCR technology, facial recognition software, and low-cost manual review teams. On its face, using DIY online identity verification makes sense, but it’s vital to understand the major limitations of ID verification solutions. Optical character recognition is a […]

Why AI-Based Online Document Verification is the Best Way to Verify Identity and Mitigate Fraud?

Showing any kind of proof of identity is vital to complete any kind of legal formality or verification process. No matter what industry a customer is trying to become a part of, be it banking, insurance, healthcare, technology, travel, education, or any other online service, the customer is asked and obligated to present an Identity […]

Electronic Signatures and Digital Signatures: All You Need to Know

Individuals and businesses use the terms electronic signature and digital signature interchangeably, and there are some key differences and specific reasons for why you may have to choose one over another. In this guide, we aim to clarify the difference between electronic and digital signatures. You’ll also learn which type of signature should determine the […]

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