EIDV

1. Understanding Electronic Verification Systems and application Understanding EIDV – what is electronic identity verification Electronic ID verification is one of the most efficient modern security systems in use today. This digital verification process requires the public to own digital IDs which are run through EIDV systems to check for authenticity i.e., verification. Electronic verification is increasingly becoming a standard security feature among most businesses. The methods are even more pushed thanks to the application of KYC and AML regulations that are compulsory for most digital institutions especially those dealing with financial processes. Online identity verification is one of the easiest and most efficient ways to achieve and scale KYC CIP (Customer identification programs).

2. Types of electronic verification systems There are multiple EIDV systems that can be used for customer or client identification for know your customer compliance. Each one of these different types of processes has its own benefits and each one is also designed for a different purpose. Document verification Document verification refers to using digital solutions or EIDV to verify certain identity documents such as passports, national or state ID cards, utility bills, tax statements, etc. Ideally, only documents with photos are considered for correct verification. The document verification process is fast, simple, and easy. The three fundamental steps of EIDV for documents include submission of user information, evaluation of credentials, and lastly, verification and results. This type of verification is one of the most accurate methods of EIDV. The data provided is state or country issued, and the resulting standardization of features such as holograms, MRZ lines, etc. makes forgery much easier to identify. Offers quick and hassle-free electronic id check process alerting for any forged, modified, illegal, or false information.