If you’re shopping for an identity verification solution, comparing solutions is tough. Most of us are making the same claims, using the same vocabulary, and hoping you can tell the difference.
There’s a fair amount of high level content about the features and benefits, but how can you truly separate the contenders from the pretenders? I would argue all that really matters is verification accuracy (and obviously your budget). But, even “verification accuracy” is pretty nuanced. When we talk about verification accuracy, we are actually talking about two different types:
- How well can the solution catch fraud (fake or doctored IDs, pictures used instead of an actual selfie, etc.)
- How well does the solution verify your good users
Depending on your use case, you may put a higher value on one accuracy measure over another. For example, if you’re a bank, you’ll probably put more emphasis on the identity solution’s ability to detect and deter fraud. If you’re an online gaming company and looking to grow your user base, you may care more about getting more good customers through the verification process — quickly, easily, and with the least amount of transaction friction.
Either way, verification accuracy should be at the top of your list when it comes to choosing an identity verification solution.
To help you further understand and communicate to the decision makers on your team the importance of accuracy, we created the infographic 10 Reasons to Get Identity Verification Right. Check it out here:
At Jumio, we really are passionate about improving our accuracy rates and have deployed a variety of features, processes, and technologies to genuinely differentiate ourselves and stand out from the pack. Our accuracy shines through whenever we are involved in competitive bake-offs and are tested with real-world datasets.
Over the next month, we will provide additional content about the key features and functionalities you should demand in an online identity verification solution. We’re looking to demystify this space and make you a better consumer of identity solutions.