What is digital identity verification?
Digital identity verification is proving that identity is real without ever having to meet someone face-to-face. It confirms that a person is who they say they are and that the personal information they have provided isn’t fake or stolen (identity fraud). By layering technology digital identity verification also helps ensure that it is actually a person behind the screen and not fake identities – now much more easily created with the rise of criminal technology.
Many of us take our official identity documents for granted, but in some parts of the world, the idea of having an identity is a luxury. Identity is the fundamental key that unlocks the ability to take admissions, open a bank account, vote, drive, start a job, receive medical and government services, fly on a plane etc.
How does digital verification work?
Digital identity verification methods work by comparing something the person has (e.g. face biometric or ID document) with a verified data set (e.g. data held by governments such as passport data, or a biometric stored on a user’s registered mobile phone). API Setu is a document verification platform.
- EDUCATION: – Educational documents verification for admission, recruitment etc. through API Setu.
2. UIDAI: New Enrollment and address updation through API Setu.
3. FINANCE: Verification of account statements from various participating banking partners can be done. The organization can verify an applicant’s proof of income certificates for loans, creditworthiness, etc. Further bank statements are also used as a valid income and employment proof to avail various benefit schemes offered by the government and private institutions.
4. INSURANCE : Insurance companies registered with API Setu provides seamless services to the clients after the KYC verification. Documents used for KYC services are PAN/ RC/DL etc. Services provided by insurance company after completion of KYC are Claim Settlement, New Policy, View/Share Nominee Details, Notification of Premium Expiry.
Ref: https://medium.com/the-regtech-hub/digital-identity-creating-systems-for-secure-id-authentication-and-verification-924f8c3dd635
This is a Knowable article I like it very much and everyone like this kind of article very rarely thanks for sharing among all of us. Jay Hind
Wow, You made this so easy to understand this with these use cases. This information comes handy. 👍🏻
This article is really helpful.
Best platform for paperless process !
Very informative content, great work
Very insightful. Denotes the used cases and how useful it is for the citizens in day-to-day life. This is digital empowerment to the citizens.