ID Verification
The Benefits of Watchlist Screening
Watchlist screening is a vital process for businesses to help prevent fraud. Learn about some benefits that come with watchlist screening integration.
How do I choose the best ID Verification solution?
Discover key factors in selecting an effective solution for identity verification, ensuring security, compliance, and user experience in your business operations.
Jeffrey Jones
Dec 14, 2022
The best ID Verification solution is the most complete one. Identity verification includes authentication with an official document such as a government-issued ID document or passport, correcting and validating individual contact data elements, and verifying the extracted metadata against reliable reference data.
The best ID Verification solution provides end-to-end coverage, from scanning and authenticating official IDs to checking an individual against international watchlists. In between, there are many steps to providing a complete process to really Know Your Customer (KYC) and be able to prove it. An ID Verification solution should facilitate and simplify adherence to these KYC regulations.
Your complete solution should cover these crucial steps:
- Intuitive and rapid document submission and liveness checks
- Remote ID Document scanning and technical, objective authenticity checks
- Secure document data transmission
- Extraction of metadata from the document and allowing users to make self-corrections
- Correcting and validating contact data elements such as name, address, phone, and email
- Verifying individuals against a reliable data provider such as a government affiliate or a credit bureau
- Screening individuals against international watchlists including official sanctions, terrorist organization lists, and negative news (AKA “adverse media”)
- Acceptance and rejection processes for identity verification submissions
- Customer due diligence reports for a fully traceable audit trail
- Regular and ongoing monitoring for your existing clientele
- Along with these requirements, your ID Verification solution should make the process as efficient as possible, freeing up resources so that you can spend time delivering value to your clientele and generating revenue for your business
At Melissa, we not only provide the tools you need to Know Your Customer and electronically verify their identity, we provide a comprehensive suite of data quality solutions.
Ensure your contact data is fresh, valid, and standardized by utilizing our powerful contact data quality services in a variety of delivery options.
See some of our strengths against competitors in the ID Verification industry:
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DocuSign Identify |
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Remote Onboarding |
✓ |
✓ |
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ID Document Technical Checks |
✓ |
✓ |
✓ |
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No-Code Government ID and Passport Authentication |
✓ |
✓ |
✓ |
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Algorithmic Biometric Comparison to Document |
✓ |
✓ |
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OCR Extraction of Document Metadata |
✓ |
✓ |
✓ |
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Business Portal for Document Review/Approval |
✓ |
✓ |
✓ |
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Full Audit Trail with Due Diligence Report |
✓ |
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Liveness Checks |
✓ |
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Cleansing and Validating Addresses |
✓ |
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Cleansing and Real-time Verification of Phones and Emails |
✓ |
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Screening and Watchlist |
✓ |
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Negative News Lookups |
✓ |
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Real-time Verification of Metadata Against Reliable Sources (KBA) |
✓ |
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✓ |