What is identity verification?

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Identity verification is used by businesses to ensure that users or customers provide information that is associated with the identity of a real person. The service may verify the authenticity of physical identity documents such as a driver’s license or passport, called documentary verification, or may verify identity information against authoritative sources such as a credit bureau or government data, called non-documentary verification.

identity verification is now a vital component to the transaction ecosystems of eCommerce companies, financial institutions, online gaming, and even social media. By adopting digital fraud prevention methods, businesses can achieve AML and KYC compliance while reducing the costs associated with fraud.[3]

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