With new technologies extending the ability to onboard in different ways, video identification in onboarding is roaring through as an alternative to the traditional form.
In a recent presentation, Electronic IDentification former head of marketing and communication Patricia Diez discussed the role of video identification in onboarding and the role it plays.
Why is video identification necessary? Diez exclaimed, “Video identification has drastically changed the rules of the game. This identity verification method has made possible the digitalization and expansion of many industries that were previously anchored to the past.
“It is necessary not only because it is the answer to KYC, AML and fraud prevention needs, but it’s the only identity verification method that strictly complies with every regulation. Up to 12% of Internet users across the European Union have already experienced online fraud and 8% of them have fallen victim to identity theft.
“Video identification is the necessity to tackle this problem. There are plenty of use cases where video identification can be applied, and it solves many issues such as cost reduction optimization of both online and offline processes and increases productivity,” she said.
Will video identification become the go-to method for companies looking to onboarding efficently and effectively?
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