Identity Verification (IDV) is the process of confirming an individual's identity through various checks and validations, often involving government-issued document verification. IDV is crucial to ensure individuals' authenticity and legitimacy when using digital services, helping businesses and organizations prevent fraud and create a trusted user environment. Many industries, especially in the financial and healthcare sectors, have strict regulatory requirements for user identification and verification. Verifying government-issued documents helps organizations comply with these regulations and ensures higher compliance. Automated IDV decreases the need for manual document verification and reduces operating costs for businesses.
ProofSpace provides integration with third-party Identity Verifiers. Integration of IDV services with ProofSpace enables enterprises to implement a robust and secure identity verification process, enhancing user trust, compliance, and user experience. By issuing verified government-issued documents in the form of verifiable credentials, organizations can further improve privacy, reduce fraud, and create a more user-centric approach to identity management.
Adding IDV extension into your service’s existing functionality, requires an additional agreement. To add this functionality to your account, please contact our support team to get all the nessesary information.