IDV Buyer’s Guide | Incode
IDV Buyer’s Guide
Incode
February 2, 2023
Digital identity verification (IDV) has become pivotal to online transactions. Nearly every remote transaction, from purchasing concert tickets to renting an Airbnb requires some level of identification. Digital IDV makes these processes much easier for the consumer, reduces the level of identity fraud, and builds trust between organizations and their customers.
The growing need for digital IDV solutions has enticed more and more vendors into entering the IDV market. Like facing shelves of similar products at the grocery store, the growing number of options can bring on a case of decision paralysis for any organization.
However, there are dramatic differences between competing IDV solutions. A digital IDV solution using business practices from 2013 may not meet your needs in 2023. You need to select a digital IDV solution that increases your revenue by removing onboarding bottlenecks that were present in older solutions, and by reducing fraud that was not detected by older solutions. In short, a solution that transforms your business.
Incode has created a Buyer’s Guide covering several important tenets to consider when choosing a digital IDV solution. Our goal was to create a framework in selecting a future-proof IDV solution that encompasses three main objectives:
- Privacy for the end user
- Reducing fraud for the enterprise
- Creating a delightful customer experience for the end user.
While all IDV solutions should strive to achieve these three goals, not all solutions are as far along in each of these three areas. Our guide further breaks down six specific characteristics of IDV solutions, each working towards one or more of the goals. These six considerations are:
- A fully automated solution
- Data processed at the edge
- Core technology developed in-house
- Powerful orchestration
- Flexible deployment option
- Secure partnerships
To find out specifics about these six considerations, and to learn the benefits of each to organizations, download our Digital Identity Verification Buyer’s Guide.
Incode
Incode is a global leader in AI-driven identity and trust, with a mission to power a world of trust at the speed of AI. The platform verifies identity and age, stops fraud, and turns verification into business enablement.