Identity theft protection is the need of digital businesses regardless of their geographical location, specific industry, and customer base. Any business having a presence in the online as well as the physical world is always in the need of a strong identity theft protection solution. KYC verification and online identity authentication services are considered the best remedy against identity theft, digital scams, and online frauds. Although there is a large number of KYC service provider available, with each having special appeal for a specific industry, there are 3 things that every KYC solutions must necessarily possess to be hailed as Best Solution for Identity theft protection.
Most of the online service providers prefer to offer their services 24 hours of the day. It means that the ideal identity theft protection system has to work round the clock in order to safeguard the business interest of their customers. Now, there is a chance to have a workforce that works 24 hours a day to manually review identity-related threats but it is more feasible to have an automated system at a place to check the authenticity of users signing up for your business. Shufti Pro has an automated system where a hybrid of AI and I work together to shield its customers from the potential risk of identity fraud.
Swift Verification Results
Automation alone cannot help businesses to have a smooth user experience on their digital channels, once an identity verification solution is integrated. Users and customers are required to be verified in a swift fashion in order to get on with the usual service. A slow verification process that takes few hours, if not a few days, to come up with authentication results is not at all business-friendly tool. There are several KYC service providers that have used advanced technology such as Artificial Intelligence and machine learning in order to churn out verification results in under a minute and Shufti Pro is again one of these identity verification solutions.
Most of the online businesses that are offering services or selling products on the internet cater to a large customer base, that is more often than not, is located in not just different countries but entirely different geographical regions as well. Identity theft protection becomes complicated to perform for such a large service provider but not for identity verification services that operate on a global scale. Shufti Pro offers its large number of KYC verification and AML Compliance solutions in over 220+ countries of the world and 150+ languages of the world.
So in order to have reliable identity theft protection, businesses need to focus on above-mentioned factors. Some other secondary factors that can also play a vital role in the selection of a reliable KYC service provider include, but are not limited to, pricing model, integrations offered, methods of verification, data security for the collected information. All these factors and a comparative analysis of the features of KYC solutions can enable businesses to find a highly beneficial identity verification service.