How Identity Proofing Can Help Protect Your Business

Businesses today are facing higher security risks than ever before. They have multiple access points that are designed to make access to customers, employees, and partners easy, but at the same time, they need to make sure their systems and data are secure. In other words, you don’t want unauthorized people accessing systems and data they shouldn’t have access to. Identity proofing can help ensure you protect your business.

What Is Identity Proofing?

Identity proofing is the act of authenticating the identity of an individual or device that wants access to your system so you can grant them only the access they need and only when they need it. It entails distinguishing the user’s identity from a pool of users (database or another type of system) and collecting and confirming the information that will allow you to verify that identity.

Types of Identity Proofing

There are several different types of identity proofing. These include:

  • Documents – Physical documents, such as a driver’s license or passport, have long been a staple when it comes to verifying a person’s identity.
  • Knowledge-based authentication – This is the use of personal knowledge to verify identity and is typically accomplished through the use of security questions.
  • Biometric verification – This is the use of physical characteristics, such as a fingerprint, facial recognition, or retinal scan, to verify a person’s identity.
  • Out-of-band proofing – The use of an SMS to send a verification code to a user’s device so they can input it and prove their identity.

Why You Need Identity Proofing

Identity proofing is all about knowing who is accessing your systems and data to keep malicious actors out and protect against fraud. And it is critical for any business today that wants to succeed in the global marketplace. Here’s why.

Sophisticated Cybercriminals

Cybercriminals have access to all the same advanced technology businesses can access, and they are becoming more and more sophisticated in their attacks. It is important that organizations stay one step ahead of these criminals.

Identity Proof Theft

It has become common for individuals to have their identity proof stolen and misused to gain access to systems and data. With companies becoming more and more responsible for securing the identity of users, you absolutely must use the most advanced, vigilant approach to cybersecurity available. Not only will this make you more secure, but it will ensure your users feel more secure.

Ease of Use for Customers

Customers can be onboarded quickly and enjoy easy access to their accounts and your systems anytime. This ultimately improves the customer experience and increases their confidence in your ability to keep them safe when interacting with your organization. The result is a deeper relationship with them.

Ensure Compliance

Many industries have strict regulations that businesses must adhere to. The medical industry has HIPAA. In the financial industry, there is know your customer (KYC). When users who are accessing systems and data must prove their identity, it ensures that an organization is minimizing the risk of data theft or fraud, which allows them to remain compliant with all applicable regulations.

Contact Platinum Technologies today to find out how we can help you plan your digital transformation to get the most out of today’s technology.

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