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Identity Verification

Identity verification and authentication with one solution

Identity verification and authentication is an important part of making sure your business works smoothly. Any company, from a corporation to an investigator, needs to make sure it’s dealing only with real people. If you don’t have a proper identity verification system in place, you can open yourself up to scammers, phishers and other general problems. These are just a few of the reasons why companies should implement high-quality identity verification through a public records search engine like Tracers.

An identity verification service to handle sensitive information

If your company regularly handles sensitive information, you need to make sure you’re verifying people’s identities every time you transmit that information. For example, insurance providers often transmit people’s sensitive health information. If you give that information out to the wrong person, it could be seriously damaging to your company. It’s vital that you only send sensitive information to the right person, because otherwise, you’re opening yourself up to a lawsuit.

  • Any company that handles sensitive information needs to verify people’s identities regularly.
  • Companies that don’t verify identities before transmitting sensitive information — like a healthcare payer software — may end up in serious legal trouble because of it.
  • Identity verification and authentication services should be an integral part of your company’s information processing if you handle sensitive information.

Use an ID verification software to get the right records for each person

Verifying an identity isn’t always as cut and dry as it may seem. Most of the time, a person shares their full name with many people in the United States, which can clutter a verification system’s responses. This means it’s crucial that you get only the records that apply to the person you’re verifying. That’s why you need to make sure you’re using high-quality data resources from a source you trust.

  • Identity verification services need to use multiple points, such as utility listings data and multiple credit bureaus, to match records to an individual for verification.
  • Using low-quality resources or a poorly-functioning service could return records that apply to others with the same name.
  • With a high-quality public records search, you’ll be able to make sure you’re only getting the records that apply to an individual.

Performing due diligence to keep your company safe

Due diligence is an important legal concept that refers to the research you do before you enter into potentially risky territory. When you do your due diligence, you’re making sure you know about risk before you accept it, so you catch any problems before they appear. Identity authentication systems allow you to do your due diligence; if something does go wrong, you can be sure you did as much as you could to avoid it in the first place.

  • Keeping your company safe requires that you do your due diligence on all your clients, not just the ones that seem like security risks.
  • Due diligence can be a legal mandate or just a way to avoid damage in the future that could ruin your business.
  • Whether you’re trying to avoid a lawsuit or just make sure you don’t run into problems, performing due diligence with a KYC software is key.

Transmitting information for investigations

At times, you may have to perform investigations into your business. These may be fraud investigations or may just be about managing corporate risk. Regardless of the reason for the investigation, it’s likely that you’ll end up bringing a third party into your company to help. When you need to transmit sensitive information to those investigators, you have to make sure you’re transmitting that information only to people who should have it.

  • Business investigations are an inherent part of being a business, and they’re usually unavoidable.
  • If you can manage your business investigations properly, you’ll be able to run through them more quickly.
  • Verifying investigators’ identities is an important part of running an effective investigation, which can be crucial.

Use advanced algorithms to verify personally identifiable information

If you go through and verify every piece of personally identifiable information (PII) on your own, you’re going to have a lot of research ahead of you. Sure, this can be useful if you’re a legal professional  trying to secure a conviction, but for the most part, you don’t need an individual that’s handling every piece of research.

Instead, you need to consider how you can cut down on your individual time. Tracers makes the research process easier by making it simple to link information. With TracersID, for example, you can take identifiable information for a specific consumer and verify whether the data you have is a match for the consumer that Tracers already has on file. With this advanced algorithmic option, you can craft a profile on each person more quickly and easily.

Provide key information with an identity verification solution

Every organization needs to provide certain information to only certain people. You don’t need a brand new employee getting information about financials; that’s something that higher-ups typically only need to know. Providing information to people is all about knowing what they need to know.

Unfortunately, it can be distinctly different to make sure you’re providing information to the right people. Whether you’re providing information to collections attorneys working for your organization or you’re just making sure your CFO has access to all the right financial ledgers, identity verification and authentication makes it easier to do.

Minimize legal and financial risk with an identity checking service

There are two types of risk you’re likely to run into when you handle identity verification as a corporation. The first type of risk is financial: If you don’t have good enough security, you’re likely to lose money. The second is legal: If you pass on security, a court is more likely to rule that you’re responsible for any fraud that occurs in your business.

When you institute an identity verification system, it’s more likely that you’ll protect yourself from both of these types of risk. You’re less likely to end up with financial losses and you’re also less likely to end up with a legal charge against your organization.

Offer a simple and secure process for customers and vendors

Above all else, your customers and vendors want to make sure the system they go through is simple. Even if it would make them safer, they often don’t want to worry about long processes. Instead, they want to maximize their comfort. That means you need identity verification that’s simple and subtle.

Unobtrusive identity verification isn’t as difficult as it might sound at first. You just need powerful enough tools that can deliver the information you’re looking for. That’s exactly where Tracers excels, which means it can craft the unobtrusive identity verification system you need for your organization to perform vendor risk assessment or due diligence.

Verifying and authenticating people’s identities can be an important part of doing business with individuals. When you’re able to identify individuals and verify their identities, you’re able to make smarter business decisions. Whether those decisions have to do with fraud, internal processes, or just building a better customer outreach program, it’s important you do it based on high-quality information. Tracers makes it easier for you to perform the right identity verification processes.

How do I get the most high-quality identity verification solutions?

It’s clear that verification and authentication are both important concepts you should take into your business. Making sure you know who you’re talking to ensures that your business runs more smoothly overall.

With Tracers, you can take the identifying information you already have and verify that you’re dealing with the client or person you think you’re dealing with. With billions of identifiable data points and an instant triangulation process, you can use Tracers to make sure you screen every client for potential future worries.

You shouldn’t be trusting the pieces of information you receive from a client. Instead, you should be verifying everything yourself. Tracers data can give you the verification options you need not only to function but also to thrive.

Can my industry benefit from identity verification through Tracers?

One mistake many people make when considering identity verification and authentication is in making their scope of interest too limited. In fact, there are many industries that can benefit from identity verification and authentication. Although these are all extremely different industries, these and many others can significantly benefit from identity verification and authentication tools:

Does your organization belong to one of these categories? Do you have an organization that might not fit these categories directly, but still needs to handle identity verification and authentication on a regular basis? No matter which one of these groups you belong to, consider how Tracers’ public and private records search engine can help your organization with its needs.

What is identity verification?

Identity verification and authentication is an important part of making sure your business works smoothly. Any company, from a corporation to an investigator, needs to make sure it’s dealing only with real people. High-quality identity verification verifies information about people to protect companies from problems.

What do I need to do identity verification?

Any company, from law investigators to corporations to legal professionals, can verify an identity if they have access to a public records search engine. Most of the time, a person shares their full name with many people in the United States, which can clutter a verification system’s responses. With a high-quality public records search, you’ll be able to make sure you’re only getting the records that apply to an individual you’re verifying.

What does identity verification reveal?

Identity verification links people to other information to help you identify individuals and verify and authenticate their identities. This ensures you make smarter and safer business decisions by helping you transmit information to the right people, perform due diligence, minimize legal and financial risk, and protect from fraud.

What do I need to do identity verification on my own?

In order to do identity verification on your own, you’ll need access to a high-quality public and private records search engine like Tracers. With billions of identifiable data points and an instant triangulation process, you can use Tracers to make sure you screen every client for potential future worries.

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