Can you afford to rent a car to someone you don’t know? Can you risk letting someone stash illegal goods in your storage facility? In the new normal, renting is the new owning. To avoid theft or misuse, identity verification is a must.
As an end-to-end Identity and Access Management solution, TrustBuilder offers many capabilities in identity management, starting with identity verification. TrustBuilder offers different ways to ascertain whether a person is whom they claim to be:
As products are turning into services, many industries need identity verification. Some examples:
Identity verification brings both business and technical advantages. Companies and their customer s stand to gain from identity verification.
Use identity verification to deliver consumers a great customer experience. Use identity verification asking for as little paperwork as possible. Allow users to identify themselves with their social login and progressively collect extra information from them for a higher level of security.
Ensure you know who your customers are and determine what they are allowed to do on your digital platforms. Gather more information from authoritative sources to gain more insights and improve security. Adhere to privacy regulations such as GDPR by allowing your customers to easily give and revoke consent.
Ensure compliance with regulations such as anti-money laundering (AML) and Know your Customer (KYC) by complementing the identification process with a background check using risk management solutions. Avoid renting storage facilities or cars to known criminals or politically exposed persons (PEP).
Use online identity verification to streamline your business processes. Allow users to identify themselves online before they use your services. In car rental, this means less time spent at the counter filling out forms and checking IDs. This saves both the customer and your staff valuable time. And it saves you costs as an organization.
Make it as easy as possible for your customers to identify themselves, yet ensure you know enough about your customers should they not return the goods you rented them. This applies for instance to ridesharing systems for cars or electric steps in cities, and the rental of clothing or furniture.
Make your onboarding process as simple as possible to attract new customers. Seven out of ten people abandon the onboarding process because it is too cumbersome. By making onboarding transparent and seamless, you will acquire more customers. Get to know them even better by asking for extra information as you go along to prevent churn.
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