Identity Verification (IDV)
Onboard any customer, anywhere – quickly, confidently, and with minimal friction. Harness the power of identity document verification and facial biometrics to know your customer across channels and around the globe.
Experience the Benefits of Truly Knowing Your Customer
Daon's verification solution is the perfect balance of security and simplicity.
- Remove barriers to customer onboarding
- Reduce abandonment rates
- Mitigate identity fraud
- Deliver frictionless identity recovery
Identity verification (also known as IDV, identity proofing, or eKYC), is the first step to building lasting trust with your customer. The process involves capturing both an identity document and a facial biometric, ensuring both are live, real, and unaltered, and then making sure that they match. Often other data the customer enters during the onboarding process is cross-checked against the data extracted from the ID. The process can even check the captured image and data against a fraud watchlist, preventing known offenders from completing the process. Verification is the only way to ensure that the customer you’re onboarding is truly who they claim to be.
KYC/AML (Know Your Customer/Anti-Money Laundering) regulations across many industries require identity verification processes by law. Violating these regulations (including eKYC or remote requirements) can incur heavy fines and waste precious time and resources. That’s just one of the many reasons why identity verification is critical to the security of your organization and the experience of your customer.
At Daon, we provide IDV solutions that are safe, simple, and universal, giving you a single, central, data-powered identity for each and every customer – one that lasts their entire identity lifecycle. We call this approach Identity Continuity, and it’s the backbone of Daon’s entire suite of products.
Our IDV product, xProof, features patented document verification technologies and advanced liveness detection.
Frequently Asked Questions
My business isn’t required to have identity verification. Why should I consider it?
IDV doesn’t just mitigate fraud risk and prepare you for potential future regulations; it allows you to truly know your customer, opening up a myriad of opportunities for providing personalized service and building a strong, lasting relationship. It can also remove barriers to onboarding if your current processes require steps like in-person registration. Finally, it opens the door to tools like registered user checks and watchlists, which prevent multiple accounts under the same user and protect your business from known bad actors.
How does identity verification help with account recovery?
If the biometric template used during the IDV process is stored on an encrypted server, it can be leveraged to allow your customer to confidently and securely register a new device. If the biometric template is stored on-device, or not at all, the recovery process is as simple as repeating the original IDV process, which can be completed without business intervention.
Can identity verification be integrated into my existing systems?
Yes. Our xProof solution is designed to easily integrate into existing IAM and CRM platforms to allow businesses to quickly increase their fraud protection and decrease friction for their customers.
