The Digital Identity Blog

Know Your Customer, or KYC, is crucial to business. However, assessing the suitability of customers for a business relationship can be time-consuming and costly, particularly when conducting manual KYC. Fortunately, there is a solution. Verif-y provides automated KYC solutions to help businesses increase efficiency while reducing friction and unnecessary costs. Let’s take a closer look at the importance of KYC and why automated KYC is the best option for your organization. 

The Verif-y team had the pleasure of attending this year’s Money 20/20 conference in Las Vegas, Nevada. This industry-leading conference brings together companies from around the world, in areas such as FinTech, Payments, and Ancillary Services. It is an action-packed event filled with amazing speakers and provides networking opportunities with both new and familiar faces.

Maintaining the safety of workplaces is crucial in the construction industry. An essential part of
maintaining this is making well-informed hiring decisions. Without the right data, employers and HR departments might miss screening out applicants with potentially problematic histories, substance use disorders, suspicious employment histories, and fraudulent education and certification information. Fortunately, background checks are the perfect solution. Background checks enable employers to simplify their recruitment processes by accessing important information on applicants, including their criminal record and past employment. Let’s take a closer look at some of the primary reasons why background checks are crucial in the construction industry.

Verif-y has changed the game when it comes to credential and employment verification with the Verif-y Credential & Employment Verification (C&EV) platform. This software solution provides fast, secure and seamless credential & employment verification for organizations and individuals. Let’s take a closer look at the Verif-y C&EV platform and the many benefits it provides to both organizations and individuals.

Background checks are not a new phenomenon for the retail industry. Retail employers use pre-employment background checks as their first course of action to protect themselves (and their customers) from negligent hiring claims, workplace violence, thefts, and fraud. A survey conducted in 2020 by the National Retail Federation (NRF) highlighted that 97% of all retail conducts background checks and pre-employment checks.

Many have referred to 2021 as the year of the ‘great resignation’. Talented and skilled professionals have been transitioning out of roles and into new ones, seeking a greater work life balance, satisfaction, and better compensation amongst others. Despite the potential excitement for these talented individuals; the ‘great resignations’ remote nature has created significant challenges for businesses. The already tedious pre-employment screenings have consequently become even more challenging due to court closures and lack of in-office proximity. To combat these digital hurdles, it’s important that companies look to leverage innovative technology to reduce new employee onboarding times and create more personal experiences.

What Are Background Checks?

Background checks are a customary part of any hiring process. Background checks help companies to address workplace safety and avoid threats. They are key initiatives for any company during the pre-employment evaluation process. Running background checks allows companies to investigate a variety of data points that will affect their hiring decision. Contingent upon need and industry, companies frequently search criminal records, perform drug screenings, evaluate work and academic history, financial history, and much more to gain reassurance. While background checks date back to the early 1900's, alternative background checks have been used in conjunction to the classic method in recent years. 

As the World begins to ease COVID-19 restrictions on public gatherings, travel, and the entertainment industries, businesses are looking forward to how to do this confidently and safely. The largest immunization movement in history is providing one level of confidence, however it will be a long and slow process until global population has herd immunity. There are various ways to prove vaccination or negative tests to prove a person is healthy, yet there are limited ways to properly demonstrate and memorialize health status efficiently and securely. Unfortunately, as a society we are still reliant upon oversized vaccination cards and repetitive manual processes which unnecessarily expose sensitive personal information and are prone to fraud and counterfeiting.