Trulioo — Solution Sheet
07
Identity Document
Verification Is
Expensive 5
Adding another line item to operational
expenses isn’t an easy decision, even
for the most cash-positive businesses.
While seeking a lower upfront cost may
be tempting when selecting a document
verification solution, it can be more
beneficial to assess the total value a
capability provides.
Given that not all solutions are created equal, it’s up
to organizations to determine how much their risk
threshold is worth. A cheaper document verification
vendor may provide initial savings but then open the
door to costly fraud attacks or compliance fines that
far outweigh initial cost concerns.
It’s important to note if the price is inclusive of all
the identity checks. Some vendors may charge
separately for the document capture, the biometrics
capture, running the verification, manual reviews and
other steps.
There are options for identity document verification
that offer one price for all features and services. By
choosing a solution with no surprises or hidden fees,
it’s easier for organizations to balance their cash flow.
Myth