Posted 10th September 2020
As businesses of all sectors embrace increased digitalisation and online document management, the issue of identity verification is firm in the minds of businesses. It raises questions of security, compliance, and safety. How can we complete transactions online and avoid fraud? While the internet has made our lives easier in many ways, increasingly sophisticated cyberfraud poses a substantial threat to companies conducting business online. This is where our digitalised ID checker verification steps in. In last week’s blog, we answered the question ‘what is an ID checker’. This week, we’re looking at the top 10 benefits of using ID Checker verification when completing online transactions and collecting signatures from customers, clients or business partners.
1.Easily verify the identity of your clients
When completing transactions digitally, it’s vital to verify the identity of your signers to prevent fraud and to ensure your business remains compliant. With E-Sign’s document management platform, you can easily integrate ID verification into your signature collection process by enabling our ID Checker. This will add an additional step for your signers to complete before they can access and e-sign your document. After collecting your signer’s ID information, our advance software will automatically compare the data against our database to either confirm or reject the identity of your signer, for minimum hassle to yourself and your business.
2. User-friendly verification
An ID checker makes it easier for your clients to verify their ID using an integrated digital process. Rather than scanning and sending over copies of their passport or driving licence, your clients are simply re-directed to our integrated webform where they are asked to enter their personal information. To properly verify their identity, your clients will be required to submit their name, date of birth, address, and passport/driving licence information. In total, the whole process takes less than 5 minutes to complete, making the process efficient for your clients and improving overall customer experience.
3. Remain compliant with AML
As part of Anti-Money Laundering regulation, your business has a responsibility to verify the identity of your clients and the source of their funds. Both Know Your Customer (KYC) and Customer Due Diligence (CDD) require businesses to verify the minimum of:
By using a digital ID checker, your business can ensure that it easily remains compliant with AML without costing your business extra time and hassle.
Using a digital ID Checker ensures that your customers are who they say they are, so you can protect your business and clients from fraudulent transactions. Supported by a digital certificate documenting the author, signers, devices used, IP addresses, time and date stamps and much more, electronic signatures are more secure than their handwritten counterparts. For extra security, you can embed our digital ID checker into your e-signature process, ensuring your transactions, especially those of high value, are above suspicion and 100% legitimate.
As part of E-Sign ID Checker, your signer’s details are screened against a global database to verify their identity and confirm that they are who they say they are. For optimal verification, our E-Sign ID Checker uses: 1) UK and International passports, 2) GB Driving Licences, 3) Mortality register, 4) UK credit header, 5) Age & 6) Address checks. Once the signer has entered their information, the E-Sign software automatically screens the details for you and only allows the signer to access the document if their identity can be positively verified.
With the ability to integrate our ID Checker into your document management, you can integrate two separate processes into one simple transactions, streamlining your document processes and improving user experience for your customers. The automated process makes it easy for you to verify the identity of your clients, so you can be sure that security and compliance concerns are duly addressed during your digital transactions and that your signatures are above challenge.
As the UK slowly emerges from lockdown, just what exactly the ‘new normal’ will look like is yet to be determined. Regardless of what comes next, remote working is likely to become a staple of modern working life. When working from home, employees often lack access to devices such as printers and scanners, meaning traditional paper-based processes are untenable and incompatible with remote working. Given this inefficiency, moving towards greater digitalisation is the best way to maintain productivity levels whilst working from home. With the ability to carry out digital ID verification as part of your document management, you can ensure that your business can continue to operate efficiently when working remotely.
By making ID verification easier for both you and your customers, your business can benefit from reduced document turnaround time, allowing you to complete those important transactions quickly and efficiently. By integrating the ID checker into the document process and signature collection, you can combine several steps of document management into one simple transaction, reducing the usual back and forth and allowing greater productivity and efficiency for you and your customers.
When time is money, improving document efficiency has a direct impact on productivity and therefore profitability. By streamlining your document processes and combining two steps into one, you make verifying your signer’s identity more efficient for both you and your employees, allowing you to process your transactions quickly and easily and freeing up time that can be invested into other areas of your business. There are also further financial savings to be made by going paperless, with digitalisation helping your business save money on the associated costs of paper-based administration.
Our ID Checker is just one of the many ways E-Sign is helping businesses transform their business functionality and capabilities through digitalisation. With our e-signature solutions, digital payment options, API and webforms, E-Sign can assist your business with a transformative digital strategy designed to improve efficiency, save money, and power your business forward. For a truly unified and integrated document management and a user-friendly platform, get in touch with us today.
Interested in giving E-Sign a go? Why not try our 14-day free demo.
E-Sign is a leading provider of electronic signature solutions supplying professional Electronic Signatures, Form Builder, Web Form, ID Checker and Personalised Email solutions to businesses across the UK.
To find out more about our E-Sign solutions and how they could transform your business, get in touch with us today.