Article 3 min

A Roadmap to Identity and Business Verification in 2023

Roadmap to business and identity verification success in 2023

Identity verification can be a complex puzzle involving ID documents, personally identifiable information, biometrics and watchlists to confirm people are who they say they are and not a threat.

Business verification can be even more complicated and involve costly manual reviews that can take weeks. The complexity multiplies for international companies that have to navigate a maze of verification regulations around the world.

Trulioo recognizes the verification challenges businesses face and has hosted a series of webinars this year to provide onboarding insights, strategies and best practices. 

Identity Verification Is a Key Business Strategy

Verified identities are crucial to building trust in a digital economy.

Identity verification is more than just a compliance requirement or fraud prevention technique. It can be a critical step in the customer journey and a key element in business strategies.

User Experience Drives Revenue

User experience is critical to preventing onboarding abandonment, and when businesses fail to convert good customers, the fallout often goes beyond one lost transaction.

The friction during onboarding that can lead to abandonment can stem from organizations using multiple verification point solutions that cause delays and unnecessary demands on the customer. 

Verification Complexity Can Create Silos

Companies often turn to multiple point solutions to solve person and business verification challenges for different markets and use cases.

That can result in a complicated roster of vendors and solutions that leads to operational silos, swelling costs and onboarding delays. Those disparate systems can be a burden to manage and can lead to security gaps.

A holistic approach to identity and business verification through a single platform can position companies to avoid those complexities and optimize onboarding.

Watch the Webinar Series On Demand

Paypers: The Real Cost of a Good Customer
Learn how companies can optimize the cost of a good, verified customer without negatively affecting onboarding.

Liminal: The Rise of Integrated Identity Platforms
Discover how to overcome the challenges of using point solutions for person and business verification.

Why Your KYB Is Only As Good As Your KYC
Explore the complexity of Know Your Business and Know Your Customer regulations and how a single, integrated identity verification platform can help streamline the process of ensuring people and businesses are who they say they are.

Solving the Identity Puzzle
Learn new strategies for verifying people and businesses through a single identity platform.

How to Navigate the Evolving Fraud Landscape: Tips for Marketplaces
Discover how marketplaces can enhance fraud prevention, reduce customer and seller onboarding friction, and expand globally with comprehensive and layered identity verification.

Identity Document Verification: Top 5 Myths Debunked
Uncover the top five myths about identity document verification and explore how the Trulioo identity platform can deliver a balanced onboarding experience that drives growth.

Rethinking Identity: A Single Platform to Verify People and Businesses
Learn how a global identity platform can enable accelerated person and business verification that fuels worldwide expansion.