Organizations are now really serious about the digital transformation process which is fueling a huge demand for visual identity verification services online in almost every market segment.
Identity verification has become fundamental to how new-aged organizations interact with their customers. It builds mutual trust between organizations and customers to interact and perform transactions with each other online.
With the global expansion of digital transformation, most of the interactions that organizations have with their customers are shifting online where a reliable remote identity verification service has become an inevitable part of the whole process. Now, institutions like banks, insurance, finance, mobile operators and many other organizations must enroll and onboard their customers without having a physical face-to-face meeting. This is exactly why using a reliable, accessible online visual identity verification software could be the best solution for enterprises to onboard their customers remotely.
The Benefits of Digital Onboarding for All Types of Organizations
In this digital world, customers prefer to have access of services from anywhere and anytime. This is the reason behind significant success in digital and mobile technologies. But digitization in almost every aspect of life has also led to having increased risks like identity theft, fraudulent activities and information leakages, etc. This is one of the primary reasons why identity verification at the time of the customer onboarding process has become highly crucial for organizations.
Businesses that have already implemented a high-end visual identity verification solution have seen these benefits-
- Signing up an account with an insurance company now takes hardly a minute. Previously, it used to almost 4 days.
- The credit registration process takes a short while where previously customers would need to wait for days to have the physical verification done and get the credit confirmation.
- Healthcare providers can go through and finish the entire process within a very short span of time.
- Mobile operators can subscribe their customers in a matter of minutes but, earlier it used to take a few hours.
- For financial organizations, onboarding customers remotely has become a cakewalk now.
Which Business Sectors Can Be Directly Benefited from Visual Identity Verification Service Online?
The remote id verification process can be of tremendous help for any traditional organizations and service providers.
Some of the new-aged industries that can significantly benefited from visual identity verification software are-
Telehealth industry is one of the most booming industries, especially in this pandemic situation. Telehealth enterprises provide the platform where doctors and patients can have a medical visit and consultation remotely. A visual identity verification process can build the mutual trust between doctors and patients. A patient’s identity and claim of insurance coverage can also be verified by remote identity verification.
The global market value of telehealth market was $31.46 billion in 2018, but now it is expected to grow at the whopping CAGR of 19.28% by the end of 2025.
The problems that financial institutions are facing are endless. The ability to verify customers real-time with a visual identity verification tool is now paramount. Financial institutes are constantly taking more serious steps than ever before to mitigate reputational, financial and operational risks associated with customers. According to recent studies and statistics, the financial sector has seen a 19% increase in cost globally with traditional customer onboarding. With the right kind of visual identity verification solution, financial sectors will be able to bring customer onboarding cost down without experiencing any challenges.
The students’ identity verification is extremely important for running an e-learning program successfully. The authorities of online institutions can check and verify the necessary documents of students remotely with a legitimate identity verification software. The e-learning/distance education market is expected to reach at $90.37 billion during 2021-2023.
Now more and more people are preferring to work from home and comfortable with remote jobs. The remote hiring sector has been witnessing massive growth with a tremendous increase of more than 150% during the last two years. A remote identity and documents verification process in the remote hiring sector can seriously help to curb incidents such as document forgeries, identity theft during the interview and verification time.
Unemployment benefits and other Government programs use digital platforms to deliver aid to citizens who actually need help. To ensure legitimate disbursement and eliminate fraud, a proper online visual identity service must be established.
eyeDnow’s Visual identity Verification Solution for Organizations:
eyeDnow enables enterprises to turn the complex and time-consuming, old-aged identity verification process into a highly scalable, seamless and easy-to-implement one. The best part of this tool is the entire process is so simple that anyone can perform the verification process without experiencing any difficulties. eyeDnow allows the organization to conduct any number of meetings at a time without disruptions. If you are really on the lookout for a best-in-class visual identity verification solution, you have just come to the right page.