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By IDcentral
Travel fraud is a growing concern within the industry, posing significant challenges to businesses and consumers alike. As travel becomes increasingly digital, the opportunities for fraudsters to exploit online transactions and reservations have also expanded. Research from global Edgar, Dunn & Company, on behalf of eNett, said in total, fraud costs the travel industry over $21 billion dollars annually, including $6 billion dollars in damages and $15 billion in overheads.
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By Mohini Sahu
The fight against money laundering and terrorist financing requires a united front, with financial institutions and large corporations playing a critical role. One key weapon in this arsenal? Politically Exposed Persons (PEP) screening. PEP screening identifies individuals with prominent public positions or close ties to them, who may be exposed to a higher risk of bribery, corruption, and other financial crimes due to their influence.
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By Mohini Sahu
Neobanks, which operate exclusively online without traditional physical branch networks, are facing an increasingly challenging landscape due to a significant rise in fraud cases. In recent years, financial institutions have reported a marked increase in fraudulent activities, with the average cost of fraud for institutions with assets over $5 billion rising by 65% from $2.3 million in 2022 to $3.8 million in 2023.
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By Mohini Sahu
Artificial intelligence (AI) is swiftly reshaping our reality, sparking innovation across diverse domains. Yet, amid this advancement lies a pressing issue: deepfakes. These ultra-authentic synthetic media pieces can alter videos or audio to fabricate instances where individuals seem to say or do things they never actually did.
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By IDcentral
In the modern digital landscape, the importance of document assessment and data extraction in ID verification processes cannot be overstated. These technologies are pivotal for businesses and organizations to ensure security, compliance, and efficient customer onboarding. With the rapid digitalization of services, from neobanks to telehealth, efficient and secure digital customer acquisition has become crucial.
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By IDcentral
In an age where digital transactions are becoming the norm, the European Union has taken a significant leap forward with the introduction of eIDAS 2.0, aiming to revolutionize how individuals and organizations authenticate their identities online.
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By IDcentral
The Blockchain Revolution in ID Verification is reshaping the landscape of digital identity through the advancement of Self-Sovereign Identity (SSI). SSI empowers individuals with control over their own identity information, leveraging blockchain technology for a secure, decentralized framework. This transformation is driven by the need to address challenges such as identity theft, privacy concerns, and the inefficiencies of traditional ID verification processes.
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By IDcentral
The initial overview of the role of system integrators in enhancing business security through access control and identity verification has been validated and expanded with recent trends and technological advancements in identity verification. Here’s an enhanced and updated analysis based on the latest insights.
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By IDcentral
Global System Integrators (GSIs) are at the forefront of digital transformation, pioneering the integration of advanced ID verification technologies to enhance security, efficiency, and user experience. As businesses worldwide continue to digitize their operations, the demand for robust identity verification (IDV) solutions has never been higher.
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By IDcentral
In the rapidly evolving digital landscape, secure identity verification has emerged as a cornerstone of online security and trust. System integrators are at the forefront of deploying these solutions, ensuring that businesses can verify the identities of their users confidently. This blog delves into the strategic considerations and best practices for system integrators tasked with implementing these critical solutions.
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By IDcentral
Even as COVD-19 slammed the brakes on in-person interactions across the globe, it simultaneously accelerated the virtualization of working models. Everything that was online was accessible; anything that was not, lagged behind. In response, companies have raced to support and retain their customers by providing digital capabilities and online experience at a speed that was previously unimaginable. As the digital economy amplifies on a global level, seamless online transactions are penetrating communities all over the world. But with this, there is a growing threat of probable frauds too.
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IDcentral enables the effective use of alternate sources of data to enable customer onboarding, verification, and deliver of identity analytics. Leveraging our relationships with carriers across the globe that spans over two decades, we have access to one of the largest repositories of data in the world. Our objective is to help organizations succeed in the digital era by the right use of technology to influence trust and customer experience.
Our Digital ID solution enables businesses to verify customer identities using alternate sources of data in real-time.
- ID Cloud: A comprehensive identity repository enabling enterprises to convert attributes to digital identities.
- ID Verification: Identity verification and authentication solutions based on phone number and alternate ID.
- Identity Scoring: Data driven intelligence for a comprehensive behavioral score of your consumers.
Your one-stop-shop for Digital Identity solutions!