Trulioo — Solution Sheet
02
Introduction
As innovations in technology expand
the digital economy, fraud becomes
more pervasive. The cyclical nature of
worldwide markets also plays a role,
sending companies on a constant
search for cost optimization across their
operations.
Those factors ripple out to business strategies for
customer verification. For instance, identity document
verification has always been important for industries
that regularly deal with high-value digital transactions.
But it’s now common for businesses to ask customers
to upload ID documents and a selfie to verify their
identity for a variety of other services.
From digital banking and retail marketplaces to food-
delivery apps, companies around the globe are striving
toward the goal of ensuring a customer and merchant
base of legitimate profiles. It can be a challenge,
though, finding identity document verification that
reaches the goal while providing smooth, customer-
friendly onboarding.
To help reassess the reality of
identity document verification
today, here are the top
five myths that need to be
addressed to help businesses
optimize growth, manage risk
and maintain compliance.