How can you benefit from this service?
Depending on the regulations or internal processes you need to adhere to, you might need to confirm the information collected from your client in the online form.
The assumption is that a client trying to commit fraud won’t have access to another user’s bank credentials or their phone to be able to authenticate on the bank’s website. This way, you can confirm that the person going through your online process is the one they said they were.
Identity verification can protect you from making the wrong decision about granting a loan, debt limit, leasing a product and much more.