With fraud and identity theft running rampant these days, verifying a person's identity online is paramount. There are many ways to go about this task. Here are some of the most commonly used methods you might encounter.
The Basics of Knowledge-Based Authentication
Here's a technique you probably had to use for sites that handle information. At one point, it was the go-to for banking platforms. Essentially, the site would ask you for answers to random questions whenever you sign up.
Some examples include the street you grew up on or your mother's maiden name. To verify your identity, all you'd have to do is provide the same answer you did during signup!
Widespread Adoption of Two-Factor Authentication
Thanks to the rise of smartphones, two-factor authentication is prevalent. With this method, websites send a unique code via text, email, or a third-party authenticator. Providing that code proves your identity and provides quick access.
Many sites still use this verification method today.
The Rise of Biometrics
Biometric authentication is not new. However, the inclusion of fingerprint readers and facial mapping on smartphones made it more accessible. This verification technique simplifies the process and provides greater security. Because everyone's fingerprint and facial structure are different, it's difficult for criminals to fake their way through.
What is Gradual Verification?
Gradual verification is a newer technique that we're starting to see on many sites. At its core, it helps to reduce signup abandonment and makes the verification process easier for consumers. So, what is gradual verification?
To put it simply, it's the act of spreading information inputs rather than asking for them all at one time. When people encounter a massive page of input fields to fill out, they often abandon the process in favor of something more straightforward. Visit this website if you need to know about "what is gradual verification"
With gradual verification, you adjust the flow and collect the required information at different stages.
Which Method is Right for Your Company?
Identity verification and authentication are necessary to maintain high levels of security and avoid fraud. However, not all techniques will serve your business the same way. Explore your options and learn more about modern verification methods to choose the right one.
Read a similar article about IDV provider here at this page.
