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1. Online Identity Document
Verification

2. What is online ID verification?
Identity is a set of claims issued against a person and can be used to describe a
person. These claims can be permanent characteristics such as names, dates of
birth, fingerprints, etc. These claims can also include home addresses and phone
numbers which are not likely to change more often.
Online ID verification is a process to digitally verify a person’s identity over the
internet. With the growth of all-digital businesses, online ID verification has become
a thing. There can be a threat of service misuse, identity personation, and money
laundering. ID verification is necessary.

3. Some of the main reasons to adopt online identity verification are listed below:
Data breaches & Fraud prevention: Increases in data breaches and frauds have
forced organizations to have online ID verification processes with the highest
security measures.
Compliance with the regulatory framework: Another reason is to comply with
the regulatory framework. A regulatory compliance framework is a set of
regulations and guidelines that organizations follow to meet regulatory
requirements and strengthen security.
Need of identity document verification

4. Quick Turnaround Time: Online ID verification provides a quick turnaround not
only for organizations but also for consumers.
Easy to use: If you use a document verification solution, then verification of
identity documents can be done more efficiently and effortlessly.
Improve and Maintain Reputation: It is essential to improve and maintain a
reputation for businesses. With several online options, it is effortless for customers
to hop from one brand to another.
Benefits of online ID Verification for Organizations

5. Flexibility: A risk-based approach requires a flexible identity verification method
that is agile and can adjust with your process as business needs change.
Reliability: It must be reliable enough to evaluate previous attacks or historical
breaches to ensure future safety through ID verification.
User experience: Customers who face too much friction in the signup process are
more likely to drop off. Providing an easy-to-use ID verification process enhances
the user experience.
Different approaches to ID verification

6. Two-Factor Authentication: This is a standard type of verification method.
However, it requires you to add your username and password.
Knowledge Authentication: Knowledge-based authentication is also known as
KBA. It is generally used by a financial institution or website whose services you
want access to.
One-Time Password (OTP) Verification: One-time Password verification is a
well-vetted way of ID verification. In this method, an OTP is sent to your mobile
phone or email address to verify your identity before accessing an account.
Different methods to verify identity documents

7. Account opening: Customers are willing to work with banks and other service
providers that are not within their physical range.
Customer onboarding: Nowadays, retailers and other consumer marketers have
an online digital presence for their businesses.
Employee onboarding: Employee onboarding is also a typical phase of ID
verification. Having a sleek ID verification method helps in efficient employee
onboarding and registering existing employees to give them access to apps,
networks, and administration.
Use cases for Online ID Verification

8. Learn More about Online Identity Docs Verification
https://nanonets.com/blog/what-is-online-id-verification/