Explore the nuanced differences between identity verification and authentication. Uncover the critical distinctions in these crucial security processes and understand their vital roles in safeguarding digital interactions. Stay informed and make informed decisions to enhance your online security measures.

1. IDENTITY VERIFICATION
VS.
AUTHENTICATION

2. Identity verification confirms an individual's identity through authentication
methods, ensuring secure access and preventing fraud or identity theft.
The user’s identity is matched with supporting data, such as biometrics, before
granting access to systems.
Check out: Identity Verification Vs. Authentication

3. Methods of Identity Verification
Document Verification Biometric Verification Knowledge-Based Verification
Methods of Identity Authentication
Knowledge-Based Authentication
(KBA)
Possession-Based Authentication Biometric
Authentication
Multi-Factor Authentication
(MFA)

4. Access Control
Businesses employ
identity authentication to
manage data access.
Unique login details and
extra factors ensure
authorization
Banks use identity
authentication,
confirming user identity
in transactions through
passwords, one-time
codes, or biometric
scans
Industries, like
healthcare, must
authenticate users for
compliance with
regulations, such as
HIPAA, ensuring data
security
Financial Transactions Regulatory Compliance

5. Customer Onboarding
Banks and insurers
use ID verification in
customer onboarding
for KYC and AML
compliance,
preventing fraud
E-commerce, ride-
sharing, and home-
sharing platforms
employ identity
verification to establish
trust and safety for
users
Telecoms verify
customer identity with
government-issued IDs
when issuing SIM cards
to prevent fraud and
ensure compliance
Online Marketplaces
Telecommunications
Companies

6. Process
User
Experience
It cross-checks the user’s personal
information or documents
It utilizes methods such as MFA, 2FA,
biometrics, or possession verification
1
2
3
Level
of
Assurance
Any form of identity verification has
high accuracy levels
Identity authentication enhances security,
it is popular, reliable, and unbreachable
Generally quick, and requires minimal
document submissions
Can be lengthy and tedious, requiring
more authentication method

7. Get In Touch
www.ftxidentity.com
info@ftxidentity.com
+1 (256) 319 3470