Customer identity verification is the process of confirming an individual or entity's identity to prevent fraud and ensure compliance with regulations. It involves submitting personal details, utilizing verification software, and can include biometric methods and two-factor authentication. Various industries, including financial services, retail, healthcare, and gaming, implement these processes to enhance security and prevent fraudulent activities.

1. Customer Identity Verification
Everything You Should Know

2. What Is Customer Identity
Verification?
Customer identity verification is the process of confirming an
individual or entity's identity before allowing them to access certain
services or products.
This practice is essential for preventing fraud, ensuring compliance
with regulations, and protecting businesses and customers.

3. Importance of Customer Identity
Verification
Fraud
Prevention
Helps to prevent identity theft, credit card
fraud, and other financial crimes.
Risk
Mitigation
Reduces the risk of legal and financial
consequences associated with
fraudulent activity.
Enhanced Customer Experience
Provides a safer and more secure
environment for customers.
Regulatory Compliance
Ensures adherence to anti-money
laundering (AML) and know-your-
customer (KYC) regulations.

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Process
How Customer Identity Verification
Works
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1 For verification, the customer submits personal details and
documents, such as a government-issued ID.
2 Identity verification software cross-checks submitted info
with trusted databases and uses AI to detect irregularities.
3 Depending on the method, customers may provide a biometric
sample or answer security questions for verification.
4 Once the verification is successful, the customer is granted
access, or the transaction is completed.
Registration
Verification Process
Authentication
Approval

5. Document
Verification
Customer Identity Verification
Methods
Biometric Verification Database Verification
Two-Factor
Authentication (2FA)
Knowledge-Based
Authentication (KBA)

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Banks and fintech companies use it to
prevent fraud and comply with regulations.
Financial Services
Industries Using Customer Identity
Verification
Verifies age for age-restricted products and
combats fraud.
Retail
Confirms passenger identities for bookings
and security checks.
Travel
Ensures patient data security and prevents
identity theft.
Healthcare
Confirms buyer identities to prevent
fraudulent transactions.
E-commerce
Ensures players are of legal age and
prevents fraud in online platforms.
Gaming
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7. Contact us
+1 (256) 319 3470
info@ftxidentity.com
www.ftxidentity.com