The Digital Identity Blog

The New Year is a time for reflection and renewal, and at Verif-y, we're thrilled to report that 2022 was a year of significant growth and success for our company.

Digital identity has come a long way in the past decade, particularly within the financial industry. Ten years ago, most financial institutions relied on traditional methods of identification, such as presenting a physical driver's license or passport when opening a bank account or applying for a loan. While these methods were effective, they were also time-consuming and prone to fraud.

Liveness is quickly becoming an essential part of the identity verification process. However, before delving into what liveness is and the benefits associated with it, we need to take a step back and look at the larger picture. Why is liveness needed when we have comprehensive identity verification solutions already? How is fraud detection limited? Only then will we truly understand the need for liveness detection in our solutions. 

Digital identity is becoming increasingly important in today's world, especially in the Supply Chain Industry. With the rise of blockchain and decentralized technologies, it is now possible to create secure, verifiable digital identities that can be used to track and verify the movement of goods through the supply chain.

A platform giving families agency-level tools to find and manage care for their loved ones; a chic smart ring designed to save lives by calling 911 when triggered; curated sustainable fashion; and a solution that ensures your identity remains safe by keeping your data secure and in your own hands – what do all these purpose-driven start-ups have in common? They were all thrilled to be back in person and exhibiting at TechDay! 

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.

Last month, Verif-y participated in Identity Week, a global conference and exhibition encompassing all things identity. It is an event that brings together the brightest minds in the identity sector. The conference promotes innovation and the most current and effective identity solution methods. 

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.

The U.S. nursing shortage has created a high demand for travel nurses. According to the current American Nurses Association (ANA) standards of practice, all nurses must meet certain criteria when applying for a new position. While there is no shortage of paperwork for travel nurses to complete, including a standard background check, motor vehicle records should be included in all standard processes.