KYC and Proof of Identity Navigating Compliance in India

KYC and Proof of Identity: Navigating Compliance in India

With digital transactions increasing in India, businesses must prioritize KYC compliance to verify their customer’s identities and prevent financial crime. One crucial aspect of KYC compliance is proof of identity (POI), which involves obtaining valid documents from customers to confirm their identity.

 

This article explains why POI is crucial for KYC compliance and provides insights into accepted POI documents, best practices for verifying POI, the impact of digital identity verification on KYC, and the future of POI in KYC.

Why Proof of Identity is Crucial for KYC

POI is a critical component of KYC compliance as it helps businesses to verify the identity of their customers and prevent financial crime. Financial institutions, in particular, are required to comply with KYC regulations to prevent money laundering and terrorist financing. The Reserve Bank of India (RBI) has issued guidelines on KYC that require banks to conduct customer identification procedures and obtain valid POI documents.

 

POI also plays an important role in preventing identity theft. Fraudsters make illegitimate use of stolen IDs and use them to open bank accounts, apply for credit cards, and conduct other financial transactions. By requiring POI, financial institutions can help prevent identity theft by ensuring that the person conducting the transaction is the legitimate owner of the identity they are using.

Types of Proof of Identity Documents Verification Accepted in KYC

In India, several documents are accepted as POI for KYC compliance. Businesses must verify the authenticity of these documents, which may include checking for security features unique to the document and conducting electronic verification services. Find the list of acceptable POI verification methods mentioned below:

 

Other documents that may be accepted as POI include:

  • Ration card
  • Senior citizen card
  • Disability ID card
  • Freedom fighter card
  • Kisan passbook
  • CGHS/ECHS card
  • Bank passbook with photograph

 

When accepting POI documents, financial institutions must be diligent in verifying their authenticity. This may include checking for watermarks, holograms, or other security features that are unique to the document. Electronic verification services must also be utilised to check the document’s validity and ensure that it has not been tampered with.

Best Practices for Verifying Proof of Identity in KYC

To ensure that POI documents are valid, businesses must follow best practices for verifying the identity of their customers. These practices include checking for security features such as holograms and watermarks, verifying the document’s expiration date, and conducting background checks to ensure that the customer is not on any watchlists or sanctions lists. Businesses may also use biometric authentication or facial recognition technology to verify the customer’s identity. Best practices for verifying POI include:

Checking the validity of the document

 

Check the document for signs of tampering or forgery, and ensure that it is not expired.

Verifying the identity of the customer

Compare the information on the document with other information provided by the customer, such as their name, address, and date of birth.

Conducting background checks

 

Conduct background checks on customers to ensure that they have no criminal history or ties to terrorism or other illicit activities.

Using electronic verification services

 

Use electronic verification services to verify the authenticity of the document and ensure that it has not been tampered with.

 

It’s important for financial institutions to have clear policies and procedures in place for verifying POI, and to provide regular training to staff to ensure that they understand these policies and procedures.

The Future of Proof of Identity in KYC

As technology continues to evolve, the future of POI in KYC is likely to see further advancements. Self-sovereign identity, which enables individuals to control their own digital identity, and decentralized identity, which allows individuals to prove their identity without relying on a centralized authority, are emerging trends in identity verification.

 

However, as new technologies and approaches to identity verification emerge, it is essential that businesses remain vigilant and continue to follow best practices for verifying POI. The need for businesses to know their customers and comply with KYC regulations is unlikely to diminish, and POI will continue to play a critical role in this process.

How does AuthBridge conduct POI checks?

AuthBridge’s verification and onboarding solutions build on cutting-edge technology i.e. liveness detection, facial recognition, OCR, etc. extract information from the ID documents, check for any tampering, and determine the authenticity of the identity document in real-time. This ensures that businesses are dealing with a real identity document and not a fake one. 

 

Here is how you can optimize your KYC process with AuthBridge:

Data extraction with OCR

AuthBridge OCR APIs help you reduce turnaround time by removing the hassles of manual data entry. Now you can just scan/upload your NID, license or other documents and fetch the details right into your system.

Realtime Database Checks

Verify the authenticity of the uploaded documents by checking the possibility of tampering with the help of our anti-tampering mechanism. Validate the information against our proprietary databases in real-time or opt for thorough offline verification.

Advanced Verification Methods

Leverage state-of-the-art liveness and face-match APIs to make your identity verification process fail-proof. Cross-validation of information against multiple sources with a match logic ensures the validity of the claim of the identity of the individual/entity.

 

Get AuthBridge’s robust verification and onboarding solutions to meet these technical objectives, while also being scalable and cost-effective. Not only will you meet your verification requirements but also offer a seamless onboarding experience.

 

Talk to our solution expert today to know more about it.

Simplified Due Diligence Benefits, Process, Examples

Simplified Due Diligence: Benefits, Process, Examples

The objective of due diligence is to gather all relevant information to make informed decisions that minimize risk and maximize returns. However, traditional due diligence can be a lengthy, costly, and complicated process. 

 

That’s where simplified due diligence comes into play. Simplified due diligence is a streamlined version of traditional due diligence that focuses on identifying the most significant risks and opportunities while minimizing the time and resources required. 

 

In this blog, we will explore simplified due diligence in detail, including its process, benefits, use case examples,  and how it differs from other due diligence approaches.

What is Simplified Due Diligence?

Simplified due diligence is a streamlined approach to conducting background checks on individuals and entities. It involves a basic level of investigation which focuses on collecting information from publicly available sources. Simplified due diligence does not involve in-depth investigations or extensive data analysis,  but relies on standard search tools and databases to gather information.

Benefits of Simplified Due Diligence

Simplified due diligence offers several benefits, including

 

  • Cost-effectiveness: Simplified due diligence is a more affordable option than other due diligence approaches. It requires fewer resources, and the process is usually completed within a shorter period.
  • Time-saving: As in-depth investigations and extensive data analysis are not involved,  the process becomes faster as compared to other approaches.
  • Simplicity: Simplified due diligence is a straightforward process that is easy to understand and implement. It does not involve complicated procedures or specialized tools.
  • Risk mitigation: Even though simplified due diligence is a basic approach, it still helps organizations to identify potential risks and avoid making costly mistakes.

 

How Does Simplified Due Diligence Differ from Other Due Diligence Approaches?

 

Simplified due diligence is different from other due diligence approaches in several ways. Here are some of the differences:

 

  • Scope: Simplified due diligence has a narrower scope than other due diligence approaches. It focuses on collecting information from publicly available sources, while other approaches may involve in-depth investigations and analysis.
  • Purpose: Simplified due diligence is primarily used for low-risk transactions, while other due diligence approaches are used for high-risk transactions.

 

Examples of Simplified Due Diligence

Simplified due diligence can be applied to various business scenarios. Here are some use-case examples of simplified due diligence:

 

Onboarding New Customers

Financial institutions may use simplified due diligence to onboard new customers for lower-risk products, such as basic savings accounts. This helps ensure compliance while reducing the cost and time associated with conducting more in-depth due diligence.

Vendor Due Diligence

Companies may use simplified due diligence to assess the risk associated with potential vendors. This could include verifying basic details such as business registration and reputation.

Business Partnership

Before entering into a business partnership, businesses need to evaluate the partner’s financial stability, reputation, and legal standing. Simplified due diligence can help them evaluate potential partners quickly and cost-effectively.

Compliance Audit

Businesses need to comply with various laws and regulations, including anti-money laundering (AML) and know-your-customer (KYC) regulations. Simplified due diligence can help them conduct compliance audits quickly and efficiently.

Employment Background Checks

Many employers conduct simplified due diligence as part of their employment background checks. This could include verifying a candidate’s employment history, educational qualifications, and criminal record.

Reconciling Supplier Invoices

Companies that have long-standing relationships with suppliers can use simplified due diligence to reconcile supplier invoices. By verifying basic information about the supplier, such as their name and address, companies can ensure that they are paying the right entity.

 


Get AuthBridge’s robust verification and onboarding solutions to meet these technical objectives, while also being scalable and cost-effective. Not only will you meet your verification requirements but also offer a simple, seamless onboarding experience.

 

<Talk to our solution expert today to know more about it>

What is Proof of Address (POA) and its relevance in KYC

What is Proof of Address (POA) and its relevance in KYC?

Proof of Address (POA) is a document that verifies a person’s residence address. It is an essential requirement in the Know Your Customer (KYC) process for banks, financial institutions, and other regulated entities in India. POA is critical in identifying and verifying customers’ identities and preventing fraudulent activities such as money laundering and terrorist financing.

India is home to over 1.3 billion people, making it the world’s second-most populous country. With such a large population, it becomes a challenge for banks and financial institutions to identify and verify their customers’ identities. Therefore, the Reserve Bank of India (RBI) has made it mandatory for banks and financial institutions to obtain POA from their customers before opening accounts or providing financial services.

This blog will give you a clear idea about the Proof of Address (PoA), its importance, documents accepted as Proof of Address, and its relevance in the KYC process.

Why is proof of address important? 

The relevance of POA in KYC cannot be overstated, as it helps banks and financial institutions in identifying and verifying their customers’ identities. By obtaining POA, banks and financial institutions can ensure that their customers are who they claim to be and that their addresses are genuine.

Moreover, POA is necessary for complying with the regulatory requirements set by the Reserve Bank of India (RBI). The RBI mandates that all banks and financial institutions must follow the KYC norms and maintain records of their customers’ identities and transactions. The KYC norms require banks and financial institutions to verify their customers’ identities and addresses to prevent fraudulent activities.

Apart from the regulatory requirements, POA is also essential for ensuring the accuracy of customer data. It helps banks and financial institutions to update their customer records and maintain accurate information. This, in turn, enables them to offer better services to their customers and enhance their overall experience.

Documents accepted as Proof of Address(PoA)

In India, POA can be established through various NIDs and supporting documents. All individuals should submit at least one acceptable proof of address document. These documents must be valid and up to date to be considered as proof of address. In addition, the address on the document should match the address provided by the customer. Every business has its own requirements/guidelines when it comes to PoA documentation checks, but the most common documents verification solutions are listed below:

For example, the utility bill must be issued in one’s name to match the government-issued identification. Also, the submitted document needs to have a date (usually, it’s three months) for validity reasons.

Problems Solved by POA in KYC Process

POA plays a crucial role in the KYC process as it helps businesses to establish the physical address of their customers. POA serves as evidence of the customer’s residence and helps businesses to verify their identity and assess their potential risks. POA is a mandatory requirement for the KYC process, and failure to comply with KYC norms can result in legal action, including fines and penalties.

  • Compliance: Compliance is a significant problem faced by businesses in the financial sector. Businesses are required to comply with various legal and regulatory requirements, including KYC norms. POA helps businesses to comply with KYC norms by verifying the address of their customers.
  • Risk Management: KYC helps businesses to assess the potential risks associated with their customers, including money laundering and terrorist financing. POA helps businesses to establish the physical address of their customers and assess the potential risks associated with them.
  • Fraud Prevention: Fraud prevention is a critical problem faced by businesses in the financial sector. POA helps businesses to prevent fraudulent activities by verifying the address of their customers. This helps to prevent identity theft, money laundering, and other fraudulent activities.

How does AuthBridge conduct POA checks?

AuthBridge’s AI-powered verification solution helps detect document tampering or any discrepancy to reduce fraud and makes address verification easy. Our digital address verification leverages the power of image recognition, GEO-tagging coordinates and liveness detection technologies to verify the identity and physical address of employees, customers, vendors and business partners and ensures seamless verification.

Some important features are listed below:

  • Detailed address capturing with GEO coordinates
  • Minimal paperwork and enhanced onboarding experience
  • Data security compliant and integrable with leading HRMS tools

Get AuthBridge’s robust verification and onboarding solutions to meet these technical objectives, while also being scalable and cost-effective. Not only will you meet your verification requirements but also offer a simple, seamless onboarding experience.

Talk to our solution expert today to know more about it. 

Types of KYC Process, Documents and APIs

Types of KYC | Process, Documents and APIs

Identity fraud and unlawful activities are increasing at an alarming rate, and organizations are emphasizing stringent due diligence and KYC processes for user identification and onboarding. In India, with its large demographic and plentiful financial institutions, a reliable KYC system is essential for attaining profitability, controlling risks, and adhering to regulations.

Organizations across sectors are opting for robust KYC solutions to drive onboarding decisions and prevent repercussions associated with identity fraud.

These solutions range from account opening, lending, collections, insurance, third-party onboarding, and candidate onboarding to risk management and compliance.

 

What is KYC?

KYC stands for Know Your Customer. It refers to the process of identity verification of all customers, clients, individuals or third parties during the onboarding or verification process or while conducting transactions.

The Reserve Bank of India (RBI) has made KYC mandatory for all banks, financial institutions, and other digital payment companies that carry out financial transactions. KYC standards are designed to ensure protection against fraud, corruption, money laundering, and terrorist financing.

Government Rules & Regulations around KYC

The UIDAI has established certain guidelines for the process of verifying the identity of an individual, known as “Know Your Customer” or KYC. These guidelines are intended to ensure the authenticity of the information provided by individuals during the Aadhaar enrollment process and to prevent identity fraud.

 

KYC guidelines as per the UIDAI

The UIDAI has put in place KYC (Know Your Customer) regulations to help protect against criminal and suspicious activities and reduce the possibility of fraud. In India, the Securities and Exchange Board of India (SEBI), Reserve Bank of India (RBI), and Insurance Regulatory and Development Authority of India (IRDAI) are responsible for overseeing the BFSI industry and have implemented specific policies to verify the identities of individuals. 

This also allows companies to understand better their customers’ financial transactions to serve them better and manage risks more effectively. The guidelines mandate the following processes:

  1. Identity verification
  2. Address verification
  3. Biometric verification 
  4. OTP verification

Some additional guidelines for KYC as per SEBI, RBI, and IRDAI are:

  1. Risk profiling
  2. AML (Anti-Money Laundering) checks

Note: These guidelines may change from time to time, and it is advisable to check the respective websites for the most up-to-date information.

 

Different Types of KYC with Advantages & Challenges

Modes and types of KYC

 

Offline KYC

Paper-based KYC

This is the most traditional way to validate a user’s identity during the onboarding process. The verification process happens in person where customers/individuals submit physical, self-attested copies of their documents — Proof of Address (POA) and Proof of Identity (POI). This process demands a physical connection with the customer for document collection and signing.

  • Advantages

The process is traditional and familiar to both customers and institutions, especially in rural areas that are untouched by digitization.

  • Challenges

As the process is manual, the process is cost-intensive and prone to operational delays and inefficiencies. Furthermore, there is an extra challenge of storage of the physical documents and their maintenance.

Aadhaar Paperless Offline E-KYC

,
Aadhaar Offline KYC is not the same as physical KYC. This process utilizes an offline form of Aadhaar and eliminates the need to connect to the UIDAI database. An Aadhaar XML/PDF-based authentication or QR Code-based demographic authentication— Name, Address, DOB, gender, registered phone number, photograph — can be conducted without the use of biometrics.

  • Advantages

Offline KYC is accessible to all kinds of private BFSI entities. It is convenient for the users/customers to download and share the Offline Aadhaar from the UIDAI website with consent to be further utilized for verification and authentication purposes.

  • Challenges

In this method, a customer’s mobile phone should be linked to their Aadhaar as customers receive an OTP on their phone number.

Online KYC

Aadhaar eKYC

There are two ways to conduct Aadhaar eKYC in an online mode — OTP-based and Biometric-based. In OTP-based verification, customers/individuals first have to ensure that their mobile number is linked to their Aadhaar. On the other hand, in biometric-based verification, UIDAI-certified biometric scanners are used for authentication. Learn more about the power of Aadhaar e-KYC here.

  • Advantages

This method is 100% digital, faster, cost-effective, and requires no contact with a customer. Aadhaar-based eKYC helps businesses stay compliant with the safeguards set by regulatory bodies.

  • Challenges

For the successful completion of this process, a dedicated technology infrastructure is required which eventually leads to a high cost when compared to other KYC solutions.

Digital KYC

In digital KYC, a live photo of the customer and Officially Valid Documents (OVDs) are captured. The process happens in the presence of an authorized official. An individual can share digital copies of Aadhaar, PAN, DL, or other ID documents for KYC directly on the institution’s portal or other mediums. The submitted details are verified against the captured data.

  • Advantages

This is a paperless and cost-effective method as the end-to-end process is digital and automated. Customers can complete the verification process without having to visit a physical location. The process is faster and more efficient as it eliminates the need for manual verification, eventually reducing the risk of errors and fraud.

Increased security: Digital KYC uses advanced technology such as biometric authentication and digital signatures to ensure the authenticity of identity information and reduce the risk of identity fraud.

  • Challenges

The identification process is dependent on manual intervention as the RE agent is involved. This eventually leads to subjectivity and inefficiencies.

Central KYC (CKYC)

Central KYC Registry is a centralised repository of KYC records, managed by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI). As soon as an individual submits the KYC documents, he/she is registered in the repository with a unique CKYC number. The number can be quoted instead of submitting physical KYC documents for any financial transaction and the CKYC repository all financial institutes can easily access the CKYC repository to validate customer KYC.

  • Advantages

Once customer KYC details are registered with CKYC, they get a 14-digit KYC Identification Number (KIN) number that can be quoted for any kind of financial transaction – eliminating the need for submitting the KYC documents time and again. The financial institutions get the ease of accessibility and customers do not have to provide the same information multiple times – ultimately improving their conveniences.

  • Challenges

Financial institutions must comply with a range of regulations when using the CKYC database, which can be complex and time-consuming. 

Video KYC

Video KYC is a completely paperless and presence-less KYC process for compliant and fraud-free authentication. During the video call, the representative will verify the customer’s identity by comparing the provided information to the information present on the government-issued ID and conducting a live facial recognition comparison. 

The process is designed to make it easy for customers to complete the KYC process from the comfort of their own home or office, without having to visit a branch in person.

  • Advantages

Video KYC enables end-to-end onboarding journeys and also ensures seamless customer experience. It is considered as the most convenient and efficient way of completing the KYC process as it eliminates the need for physical documentation and face-to-face interaction. Some of the benefits of video KYC are increased customer convenience, reduced time and cost of compliance, and improved security.

  • Challenges

In Video KYC, the major challenge is the heavy investment in technology especially when you have not partnered with third-party enablers. This is where AuthBridge, a leading third-party enabler for authentication and verification companies, plays a crucial role.

Re KYC

According to the RBI guidelines, banks may ask for Re-KYC at specific intervals to keep updating the information and records while also maintaining compliance with the regulations. For example, if the customer changes the address, registered phone number or email ID etc., that were submitted at the start of the verification process, the same should be updated in the records through the Re-KYC process.

 

Types of KYC APIs

Types of KYC APIs

 

Identity Verification APIs

Identity verification API enables document authentication and identity verification by validating credentials or identity proofs in real-time. These APIs ensure that there is a real entity or valid business behind a process so that there is no room for fraudulent activities i.e. false authorizations, identity theft, money laundering, and financial crimes. You can prevent verification errors but also enable end-to-end secured KYC verification for the following: 

  • Aadhaar Paperless with OTP- Only Banks & Telecommunication are allowed
  • Aadhaar Verification Via Digilocker
  • Officially Valid Documents- DL, PAN, etc

Information Validation APIs

  • Face Match API: Face Match API uses facial recognition technology to verify the identity of an individual. It utilizes a live or recorded image of the individual’s face with a reference ID to analyze and compare the biometric data such as facial features, proportions, and patterns, to make the match determination.
  • Liveness Check: A Liveness Check API will ensure that an individual is physically present during the verification process and not using a fake or pre-recorded image. It detects if the person is real and not using a photograph, video or mask by analyzing the movements and changes of the person’s face or body in real-time.
  • OCR: OCR technology catches document forgery and tampering, sieves fake applications from the real ones, and enables ease of onboarding with automated data capturing.
  • Document Forgery: This validates the authenticity of official documents, such as passports, IDs, etc. by analyzing the text, images, and other elements in the documents to detect any signs of tampering or forgery. The data is cross-checked with government databases and other authoritative sources.

Documents Required in Different Modes of KYC

According to the Indian Government guidelines, some key documents serve as ‘Officially Valid Documents (or OVDs) and are used for identity verification. If you are an Indian National, the following documents are accepted as proof of address and proof of identity.

  • Passport,
  • Driving Licence(dl verification),
  • Voter Id Verification
  • PAN Card
  • Aadhaar Card issued by UIDAI and
  • Job card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the National Population Register containing details of name and address.

If identity information relating to the Aadhaar number or PAN submitted by the customer does not have a current address, an individual has to submit the following documents.

  • Utility bill not more than two months old (electricity, telephone, post-paid mobile phone, piped gas, water bill);
  • property or Municipal tax receipt;
  • pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, including address.
  • A document issued by a State Government or Central Government Department, a regulatory body, a public sector undertaking, a scheduled commercial bank, a financial institution, or a listed company, granting an employee the right to officially occupy a space, typically under a leave and license agreement.
  • Provided further that the customer shall submit an Aadhaar or OVD updated with the current address within a period of three months of submitting the above documents.

 

Where is KYC needed and Why?

KYC for business and individuals

For Individual

  • Customer Onboarding: Financial institutions leverage KYC solutions to validate customers’ identities and assess their potential risks for money laundering or financing terrorism. The purpose of KYC in customer onboarding is to ensure compliance with anti-money laundering regulations and to protect the institution from potential legal and reputational risks.
  • Employee Onboarding: The KYC process can include background checks, which help to ensure that new hires have a clean criminal record and do not pose a threat to the company or its employees. KYC in employee onboarding is crucial for ensuring a safe and compliant workplace, protecting sensitive information, and maintaining the integrity of the company.
  • Stakeholder’s Verification: Businesses across sectors need KYC solutions for the verification of key business stakeholders i.e. clients, business partners, investors, etc. to ensure their legitimacy and keep themselves on the right side of the law. The process typically involves collecting personal and company information and verifying it against reliable sources such as government databases, business registries, and credit bureaus to ensure compliance with legal and regulatory requirements. 
  • Fraud Prevention: The goal of KYC for fraud prevention is to minimize the risk of fraudulent activities and to protect the organization from financial losses, legal liability, and reputational damage.

For Businesses

  • New & Existing Business Onboarding: Ensuring that only legitimate businesses are being onboarded is a tough task. You cannot risk your business reputation and profitable returns by associating yourself with illegitimate ventures that are on false fronts for bad reputation, corruption, or money laundering. KYC/KYB compliance contributes to informed decision-making by providing valuable insights and actionable data to decision-makers.
  • Financial Due Diligence: Assessing the financial health of a business is crucial otherwise it could result in a loss of ROI, time, and reputation. It is crucial to leverage KYC/KYB solutions to evaluate whether an individual/business partner is a good prospect or in any financial trouble.
  • Third-Party Due Diligence: Third-party stakeholders such as suppliers, vendors, dealers, distributors, vendors, and merchants play an integral part in managing different functions of the supply chain. Enabling third-party due diligence with robust KYC solutions helps in mitigating identity thefts that can expose a business to reputational, regulatory, and financial risks.
  • AML & CFT Due Diligence: Ensuring AML and CFT compliance is essential to protect the integrity of the business and the financial framework. A robust KYC process can help in battling fraud and eliminating money laundering, terrorist financing, and other financial misconduct. 

Need for KYC in Different Industries

  • Gaming: KYC in gaming not only helps in onboarding genuine users, but also prevents gaming frauds such as multi-accounting, underage gaming, location spoofing, collision, and much more. Gaming companies can comply with various anti-money laundering and anti-fraud regulations to provide a better and more secure experience to their players.
  • Banking, Financial Services and Insurance: In such industries, there is an inherent risk of financial fraud and money laundering. KYC process helps banks and other financial institutions obtain information about their customers’ identity thereby ensuring their services and government regulations are not misused.
  • Retail, FMCG, Logistics: In the logistics industry, KYC can help to ensure the longevity of the supply chain by verifying the identities of suppliers and partners. KYC helps to ensure the security of sensitive customer information by verifying the identity of the customer and ensuring that their information is protected.
  • Telecommunications: KYC can help to ensure the security of the network by verifying the identities of customers and reducing the risk of illegal activities. Telecommunications companies can reduce the risk of lost revenue due to fraudulent activities, such as identity theft or unauthorized usage.

AuthBridge’s Robust KYC Solutions

No matter if you are onboarding employees, third parties, or customers, it is always best to invest in a new-age customizable solution that can serve you with digital, biometric, and or video KYC – depending on your requirement. AuthBridge’s new-age KYC technology helps businesses enable smart automation and authentication, with minimal manual interventions.

Top three benefits of KYC for verification and onboarding

  • Lowers the Risk of Financial Crime: AuthBridge’s industry-leading Digital/Video KYC solutions help prevent financial crime. These solutions use OCR for document digitization, liveness detection, and face match. This helps to verify users with no errors and restricts fraudsters from passing the checks.
  • Builds Trust & Transparency With Customers: Any platform brimmed with non-compliant users, criminals, and fraudsters will stop genuine users from using/trading on that platform. AuthBridge’s award-winning KYC technology can help businesses exemplify trustworthiness to new users by tracking mismatches or any discrepancies right at the initial stages of the onboarding process.
  • Fastest Turnaround-Time: Manual KYC procedures not only create space for errors but are time-consuming, eventually increasing application dropout rates. AuthBridge’s KYC technology automates KYC verification for faster, fraud-free, and seamless user onboarding. Our KYC solutions reduce operational costs by up to 70% and onboarding time by up to 90% while facilitating frictionless onboarding without compromising accuracy.

At AuthBridge, we are dedicated to offering innovative solutions that leverage the power of AI/ML to simplify the KYC verification process. Our KYC technology uses geo-tagging, OCR, and liveness detection to make the customer onboarding process fast, simple, and stress-free for customers and businesses.

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iBRIDGE 2.0 Top 10 Features You Need To Know For Seamless Employee Onboarding

iBRIDGE 2.0: Top 10 Features You Need To Know For Seamless Employee Onboarding

Focusing on ‘candidate onboarding experience’ is a cardinal rule for organizations these days. The way new hires perceive your organization at the initial stages can have a lasting impact on profitability, efficiency, ROI, organization culture, and much more. The same has been a driving force behind organizations joining the bandwagon of integrating cutting-edge onboarding and verification technologies to enable positive employee experience right from the start. 

Setting up a seamless onboarding process and automating verification journeys not only make new hires start on the right foot but also saves time, which means HR teams can focus on personalization during and before onboarding and offer human connection where desirable. Moreover, a robust verification and onboarding platform help organizations get better transparency and trust to retain great talent.

To set a seal on the positive candidate experience right from the start, we have introduced the new and improved version of iBRIDGE, our flagship employee onboarding and background check platform launched in 2019.

All you need to know about iBRIDGE 2.0!

iBRIDGE 2.0 is the next-gen background verification platform that will enable companies with seamless candidate onboarding and verification experiences for new-age talent. With a refreshed product, AuthBridge – India’s largest authentication company, will help HRs and key decision makers to activate candidate verifications in seconds and deep dive into a candidate’s documentation status with a single click.

Whether you want to activate candidate verifications in seconds, keep tabs on the documentation status with a single click, or get visibility of verification status, iBRIDGE 2.0 is all you need to create an enhanced and hassle-free onboarding experience for the new-age talent.

Powering seamless onboarding and verification experience both for HRs and candidates with iBRIDGE 2.0

  • Single view of Candidate: The new and improved version of iBRIDGE comprises a tab switcher feature that lets candidates quickly switch to other tabs, navigate the different sections/tabs of the page, and complete their onboarding journeys at their convenience. Candidates can switch tabs for the prior discovery of the information required in other sections without disturbing the current stage within each tab. A flexible and intuitive interface for document collection will ensure faster onboarding and a positive candidate experience right from the start. As candidates have to fill in the minimal and targeted inputs, this will reduce the dropout rates and TAT due to complexity.

In addition to this, there is a candidate journey progress bar feature to give a clear delineation to candidates of how close they are to completing the onboarding process.

  • Flexible e-signature authorizations: iBRIDGE 2.0 offers multiple authorization signature forms which translate to increased convenience and ease of authorizations for the candidates. Candidates can choose from the available options – name type, sign and upload, draw, and complete the signing process smoothly.
  • Real-time credit history checks: Lengthy credit history checks are one of the strong reasons for onboarding delays and dropouts. With iBRIDGE 2.0, HRs can conduct real-time credit history checks and reduce the time to check the credit history with an automated workflow. Our robust and advanced API helps you generate credit history reports in a few clicks.
  • Largest proprietary database:  Data insufficiency is one of the biggest challenges when it comes to candidate verification and onboarding as it results in increased TAT due to additional time spent feeding data. Our largest proprietary database helps in resolving information insufficiency with a 95% hit rate and facilitates quick journey completion. 
  • Instant address verification: In the usual scenario, a DAV (Digital Address Verification) link is shared after the journey is completed. But with iBRIDGE 2.0., your candidates will be able to perform DAV instantly with our industry-exclusive QR scan-enabled verifications. A QR code will open on the side tab that candidates can scan to access the DAV page instantly, while simultaneously completing their onboarding process. The addition of this new feature in iBRIDGE 2.0 will bring a significant reduction in time and drop-off rate in the DAV journeys.

  • NID checks selection as per your requirement: Now you do not have to worry about NID verification costing as the new version allows you to select NID check from the dropdowns as per your hiring requirement. Select from over five NIDs to help candidates complete verification with ease. 

  • Real-time visibility: Real-time dashboards and actionable insights for complete visibility of candidates’ verification status on one screen. With customisable alerts and notifications, you can track insufficiencies and take action on the go. 
  • Explainer videos and self-service FAQs: Enable hassle-free verifications with video-guided candidate document collection and management. This saves your onboarding time by up to 90% making it faster for your candidates to come on board. In addition to this, the self-service FAQs will resolve 90% of candidate verification-related queries in real-time and offer round-the-clock support. Both these new features in iBRIDGE2.0 will ensure improved candidate experience, faster resolution times, and cost reduction.
  • Desktop and mobile-friendly: The candidate verification platform is now both desktop and mobile-friendly. This simple yet valuable feature will reduce candidate dropout rates which will be able to operate the platform and seamlessly complete the verification process across devices, without being annoyed or inconvenienced.
  • Customisable and integrable: Create all-new journeys with plug-in plug-out features as per your industry-specific requirements or simply integrate APIs in your existing processes. It is available on the web, and mobile and can be integrated with any HRMS/ATS.

Our 17+ years of domain expertise is one of our strongest suits, and with the recent launch of this next-gen verification platform, we aim to prioritize candidate and HR experience and deliver delight with minimal hassle and maximum ROI. We have been India’s largest background verification company for 17 years; but the end-to-end-digital transformation in the past couple of years has led us to become the largest authentication and onboarding tech company, beyond just the verification ecosystem.

MeitY Regulations for Online Gaming The Way Forward

MeitY Regulations for Online Gaming: The Way Forward

Introduction

The online gaming industry in India grew at a CAGR of 38% between 2017 – 2020, and the same is expected to stay around 15% reaching about Rs. 154 billion in revenue by 2024, as per a report by Sequoia and BCG.

As the space is mostly unregulated with little government insight, it has turned into a hotspot for miscreants. Instances of fraud have been reported to increase over the past years, forcing some states to pass individual bills on regulation.

Paving the way for the online gaming industry to grow and expand, in a balanced manner, the Ministry of Electronics and IT(MeitY) recently announced rules to regulate the online gaming industry to curb fraudulent activities.

Numerous discussions by MeitY with stakeholders, including gaming companies, industry groups, players, and lawyers, among others, as well as a public consultation it held in January 2023 culminated into these regulations.

Let’s understand what these rules are and how can the online gaming space benefit from their implementation.

 

Key Takeaways from the New Regulations

Approving Regulatory Body – The online games will have to register with a self-regulatory body, and only those with approval from the body, will be allowed legally function in India. As for the self-regulatory bodies, there can be more than one in number, and they will have to provide the ministry with a list of games they have registered and the criteria followed for registration.

Mandatory Player Verification through KYC Norms – An online gaming company will have to undertake due diligence in the form of Know-your-Customer norms (as per the norms laid by RBI). The companies will also have to inform the users of the manner of determination and distribution, withdrawal, and refund of the winnings. Additionally, the company will have to secure a Random Number Generation(RNG),  an algorithm to ensure that outcomes are statistically random and unpredictable.

Curtailing Wagering –  As per the rules, Self-regulatory bodies do not allow wagering i.e. no bidding on the outcomes of the game. The rules also prohibit the advertising of games involving betting and gambling on social media platforms. Social media platforms must confirm with the self-regulatory body if the online gaming company has been registered before agreeing to host their advertisements.

Displaying Verification Mark – Online gaming platforms are required to publish a verification mark (watermark) as proof of verification from a self-regulatory body for any permissible online real money game.

Ensuring Compliance – Similar to what’s followed in social media and e-commerce companies, the rules propose the appointment of a compliance officer to ensure that the platform follows the norms, a nodal officer to act as a liaison with the government, and a grievance officer to resolve complaints.

 

Ensuring Due Diligence is in Line with the New Rules

The online gaming space, mostly unregulated at present, has become a breeding ground for fraudsters. There have been increasing reports of referral bonus frauds, underage playing, and a lot more, since the time the online gaming industry took its wings. Due diligence of the users with appropriate KYC procedures has thus become a must-have.

Here are some must-have checks that we recommend to gaming companies to keep speed with the new MeitY rules for the online gaming industry:

 

  1. Optical Character Recognition(OCR): OCR technology catches document forgery and tampering easily, sieves fake applications from the real ones, and enables ease of onboarding with automated data capturing. This results in a seamless player onboarding experience and lower account abandonment rates.
  2. Digital Address Verification: Digital Address Verification captures the location of a user through geo-coordinates and helps in preventing location spoofing, allowing gaming businesses to stay compliant. 
  3. Database-Driven Document Verification: NID verification against PAN or Aadhaar databases allows for quick verification of documents, establishing the identity of a player in real-time.
  4. Bank Account Verification: Validation of bank details is crucial to prevent money laundering and financial crimes. Our API-based penny drop method validates bank details along with the beneficiary’s name.
  5. Biometric Identification: Biometric identification technology matches a player to their documents through an image-based face match and validates that a player accessing the platform is the same one who registered in the first place.
  6. Risk Scoring: Get an updated risk score of a user based on the checks executed. As per the scorecard, you can decide whether to onboard a particular user or not.
  7. Real-Time Verification: Video KYC journey combined with state-of-the-art technologies for document tampering, liveness check, and real-time verification of users at scale for fastest onboarding – in 2 minutes or even less.

Interested in knowing more about how AuthBridge can help you safeguard your business against fraudulent users and suspicious transactions while meeting the requirements outlined in the new regulations? 

Read Case Study: How Dream11 Verified 1Cr+ Users with AuthBridge’s Authenticating Platform

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What is due diligence Process, Audits, and Reports

What is due diligence? Process, Audits, and Reports

What is Due Diligence?

According to Investopedia, the term due diligence refers to an investigation, audit, or review performed to confirm facts or details of a matter under consideration.

In the context of a business, due diligence means employing KYC/KYB procedures to ensure compliance, prevent fraud, and minimize risk exposure associated with various business processes. Its need arises in case of business transactions like acquisitions, customer & third-party onboarding, related party compliance, and even in the hiring process of employees.

The process can include reviewing financial statements, database checks, interviewing management, site visits, process audits, and assessing the company’s market position and competitive landscape.

Fortune Business Insight: Industry Update

 

To ensure a risk-free business ecosystem, you need to understand the key aspects of due diligence that your business needs to focus upon. Don’t worry we have got you covered. 

Here is what you can expect to learn from this article: 

  • What is due diligence?
  • Importance of Due Diligence in Today’s World
  • Types of Due Diligence
  • Rules, Regulations, and Penalties around Due Diligence
  • What are your due diligence needs?
  • Risk Score-Based Due Diligence Process 
  • Levels of Due Diligence
  • Implementing Measures of Due Diligence
  • Due Diligence Solutions and Reports

 

Importance of Due Diligence in Today’s World

The need for due diligence becomes all the more imminent with ever-evolving technology, and external factors like the pandemic. Trustable business partners and transparent business processes are key to resilience for business owners today. The abundance of digital footprints of customers, business partners and third parties has opened a world of possibilities for fraudulent activities and their associated risk exposure. Traditional due diligence methods are becoming redundant given the complexity of information and lack of appropriate due diligence frameworks.

Businesses are adopting new-age due diligence solutions to minimise their risk exposure, ensure compliance and prevent fraud. As a result, the global fraud detection and prevention industry is seeing a steep spike in demand with more and more innovative solutions coming in every day.

 

Types of Due Diligence

Types of due diligence can be broadly divided into 3 categories. Their use and application vary depending on the sector, area, or type of process in which it is implemented.

Types of due diligence

 

Business Due Diligence

It helps you with decision-making in business transactions like M&A, buying a business, and onboarding business partners as a part of the expansion into new geographies. It looks at various operational, strategic, technical, environmental, and human resource aspects of the business.

Financial Due Diligence

It helps you identify the value and risk exposure of a business or individual by looking into financials. It involves a detailed audit of accounting policies, audit practices and publically available like annual statements and MCA filing.

Legal Due Diligence

It helps you avoid legal pitfalls like penalties for non-compliance in one or more areas like Regulated KYC procedure, mandated data privacy and security norms and third-party compliance liabilities.

 

Rules, Regulations and Penalties around Due Diligence

Countries across the globe are continuously working towards making their business ecosystem safe by passing regulations to prohibit bribery, corruption, money laundering and prevent fraud. Companies operating within national boundaries are regulated only by national laws, however businesses with cross-border teams, subsidiaries and subcontractors are also regulated by international laws. Read more about country-wise due diligence regulations here. Here is how a heatmap looks like the location of improper payments, 2013-2022.

FCPA.edu Heatmap Location of Improper Payments

 

Laws to Adhere for Companies Operating Within India

  • The Companies Act, 2013 – All companies registered in India must comply with regulations stated by the Securities and Exchange Board of India (SEBI) to prevent money laundering.
  • Foreign Exchange Management Act (FEMA)– All companies with foreign direct investment (FDI)  are required to comply with FEMA.

Laws to Adhere for Companies Operating in International Markets

  • The UK Bribery Act – The Bribery Act covers transactions that take place in the UK or abroad, and both in the public and private sectors.
  • The US Foreign Corrupt Practices Act (FCPA) -The FCPA prohibits the payment of bribes to foreign officials to obtain and retain business. It applies to two broad categories of persons: those with formal ties to the United States and those who take action in furtherance of a violation while in the United States. U.S. “issuers” and “domestic concerns” must obey the FCPA, even when acting outside the country.

Key Stats from The Foreign Corrupt Practices Act Clearinghouse (FCPAC)

Total and Average Sanctions Imposed on Entity Groups

FCPA Sanctions imposed on entity groups

Types of Third-Party Intermediaries Disclosed in FCPA-related Enforcement Actions

Third Party Intermediaries types disclosed in FCPA related enforcement activites

Corporate Sanctions Timeline (2013-2022)

FCPA: Corporate Sanctions Timeline

 

Understanding Your Due Diligence Requirements

Understanding your due diligence requirements could be a challenging task. But, with a team of experts and commitment, you can plan a thorough audit of your internal/external processes, stakeholders and business partners and how much of a risk they are exposed to.

What is a due diligence audit?

In a general sense,  a due diligence audit examines a company’s standings, financial performance and exposure to different kinds of risks. The objective of the audit may vary based on one or more following business transactions. 

Business Transactions that require Due Diligence

A well-thought due diligence framework enables informed decision-making in various business transactions. Broadly, there are five categories of business transactions that require thorough due diligence. These are

Requirements for due diligence often help you identify the right type of due diligence solution for your business. A few questions you need to consider to find the right fit are:

  • Who are the stakeholders involved in the existing process?
  • Type of process- internal, external?
  • What level of competence is required from the stakeholders to conduct due diligence?
  • Collection process, formats and storage of existing data of the parties in the purview of this exercise.
  • Budget, the scope of process automation and target turnaround time.

Upon answering the above questions, the next step is to step up a due diligence process to Identify, screen, and minimise your risk exposure.

 

Risk Score-Based Due Diligence Process

The due diligence process typically involves several stages that may vary depending on your objective, industry, and your risk appetite. In a holistic sense, a typical due diligence process involves three major steps:

Risk Score based due diligence

Identification

The first step involves identifying the gaps and factoring their risk exposure

  1. People & Process: involves working closely with the business owners and identifying the gaps in existing processes to map the level of risk involved  
  2. Information Collection: involves what information needs to be collected. and from where will the information come?
    1. For businesses, the information required includes MCA registration, proof of address, compliance reports, shareholders, beneficiaries, stakeholding structure, and their political affiliations
    2. For individuals, the information required includes proof of identity, proof of address, financials, and political affiliations

Assessment

The second step is to assess the level of risk exposure based on the information collected

  1. Database Checks: This step involves cross-verifying the information collected and validating it against various national and international databases. 
  2. PEPs & Sanctions: Screening against politically exposed persons and sanction lists become business to minimize reputational risk exposure.
  3. Risk Mapping: This is a process of identifying the key areas prone to risk. The success factor for all the identified departments with KPIs to measure is defined

Risk Mapping Process in due diligence

Prevention

The third step involves implementing mechanisms to mitigate risk assessed in step two

  1. Risk Scoring: Based on the benchmarks identified in step one a risk score is assigned to the business or an individual. Very often businesses categorize their risk score in a color-coded fashion i.e. Red, Amber, and Green. 
  2. Corrective Actions: Based on the sensitivity of the case levels of risk are defined corrective courses of action are defined in the form of levels of due diligence i.e. Simplified, Standard, and Enhanced Due Diligence. More on this is below.

 

Three Levels of Due Diligence

Three levels of due diligence

Keeping risk-based due diligence in consideration, you can segment your customers into three risk categories i.e low, medium, and high in order to select the right level of due diligence for them. A clear delineation of the due diligence level will help you offer a pleasant onboarding experience with no unnecessary blockades.

 

Simplified Due Diligence for low-risk profiles

Simplified due diligence is the easiest risk assessment framework, ideal for a low-risk profile with negligible risk exposure. They generally include well-known public enterprises and individuals with impeccable financial records contributing to the lower ticket size of the overall revenue stream. While taking the route, you may only need to know the identity of the entity or the individual. However, storing the proof of qualification for simplified due diligence can ensure compliance and visibility if any corrective action is required in the future.

 

Standard Due Diligence for medium-risk profiles

Standard due diligence is the most commonly used risk assessment framework, the right fit for a medium-risk profile. This involves not just only knowing the identity but also verifying it to ensure they are who they claim to be. Verifying basic information like full name, date of birth, and address against a government-issued ID and other databases will help you filter potential threats preemptively.

 

Enhanced Due Diligence for high-risk profiles

Enhanced due diligence is the most detailed risk assessment framework, best suited for high-risk profiles. The high-risk profiles comprise your employees, customers, and business partners who need comprehensive screening and monitoring to keep a tight eye on identity thefts and credibility throughout the lifecycle and minimize risk exposure. 

Below mentioned are some measures worth considering for both businesses and individuals 

  • Enhanced screening and identity verification
  • Intended nature of the business partnership
  • Financial of Entity & Individuals
  • Third-party risk and compliance measures
  • Process assessments and mystery audits
  • Adverse media, Sanctions & Watch lists 
  • Ongoing Monitoring

 

Implementing Measures of Due Diligence

Depending on the budget and requirements you can choose between two types of due diligence services i.e. Offline and Online

  • Offline Due Diligence – Organisations who are still going by the manual routes often require a due diligence report to onboard and verify individuals or entities. 
  • Online Due Diligence:  Organisations either leverage a platform to onboard, verify & monitor their business partners or integrate verification APIs to collect due diligence reports directly into their ERPs.

AuthBridge Due Diligence Solutions

With all the information at hand with the help of a due diligence solution you can now put the pieces of the whole puzzle together. A comprehensive due diligence solution will give access to all the requisite information and help you drive informed business decisions with data-driven insights. You may want to look at the offerings of the service providers and gauge them against your business needs. 

From a bird’s eye view, your requirements may fall into three major categories. At AuthBridge business solutions, we call them

  • Screening, Onboarding, and Verification: Know your Customer/Employee/Partner journeys at the time of first or repeated interactions with your business. You can choose from eKYC, DKYC, Video KYC or other types of KYC based on your needs.
  • Risk Mitigation: Process assessments, Compliance Audits, and Business intelligence reports of your customers, partners, and third parties during all interactions with your business. You can choose from various Standard and Comprehensive due diligence reports.
  • Fraud Prevention: Red flag fraudulent profiles for identity, customer, and financial fraud along with other suspicious transactions with the help of setting up an ongoing monitoring process at defined intervals.

 

AuthBridge has 17+ years of experience in providing digital solutions for background verification and due diligence to small, medium, and large enterprises across 20+ industries.

Have any questions about due diligence? Reach out to a team of experts to understand your due diligence needs.

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Everything You Need To Know About PAN Card Verification API

Everything You Need To Know About PAN Card Verification API

Ensuring compliance is one of the cardinal rules for businesses – no matter if it is a large organization or a small enterprise. Enforcing compliance enables businesses to stay in line with fraud prevention policies, detect violations of rules, and protect a company from running into unnecessary fines and lawsuits. To be compliant and stay on the right side of the law, PAN verification is one such important step before onboarding customers, clients, and third parties. 

The Permanent Account Number (PAN) card is one of the most important documents nowadays. Issued by the Income Tax Department, the major purpose of this document is to prevent tax evasion by individuals and entities as it links all financial transactions made by a particular individual or entity. It is like an economic tool used to keep tabs on all monetary transactions and maintain a detailed record for ongoing and future compliance purposes. 

However, the PAN card has many other uses besides just being a way for the government to keep tabs on an individual/entity’s financial dealings. PAN Card is useful for IT return filings, bank account opening, making investments, and most importantly as a proof of identity – anywhere in the country.

A typical PAN card issued to an individual would comprise the following information:

  • The First Name and the Last Name
  • Date of Birth
  • PAN Number
  • Photo 
  • Signature of the PAN holder

A typical PAN card issued to a business would comprise the following information:

  • Company Name
  • Date of Incorporation
  • PAN Number

 

Need for Pan Card Verification API

The rising issue of cybercriminals using morph digitized images to dodge the verification process and engaging in cyber frauds has made it imperative to have a stringent verification solution in place. As a result, ascertaining the genuineness of a PAN Card is a cardinal rule for businesses before onboarding individuals and other third parties.  

Using an identity verification API fastracks the PAN Card verification process and helps businesses ensure whoever they are onboarding or associating their business with is reliable. API-led verification makes the entire process frictionless, convenient, and instantaneous while also eliminating the need for a KYC official or third party to be physically available at the time of the process. 

Companies can save themselves from getting sucked into the whirlpool of manual verification by digitizing verification via APIs. It is also a major game changer in terms of cutting down unnecessary costs and saving time.

 

AuthBridge’s PAN Verification API

Leveraging AuthBridge’s PAN verification API can make your onboarding process easier and frictionless for your clients, customers, vendors, and other third parties. Our configurable PAN verification API assures convenience by automating the process and enables businesses to conduct verifications in bulk. It cuts the need to invest a good amount of man-hours into PAN card verification and helps organizations to be efficient.

 

How does it work?

This easy-to-follow process includes uploading the PAN details through API and extracting data in real-time through OCR that gets validated from the Government databases.

 

Here are some of the reasons to leverage AuthBridge’s PAN Card Verification API.

  • Real-Time & Seamless Verification: Our API-led verification assures seamless verification as OCR automatically fetches the details from the documents – cutting the need for manual intervention and delay. The details are retrieved in real time and verified from government databases to reduce the risks associated with identity theft and fraudulent activities.
  • Easily Integrate: Our industry-leading APIs ensure seamless integration with your existing workflows and processes. This means smoother communication with your other programs, thereby adding to the efficiency.
  • Data Privacy: The details of every individual are completely safe in the API platform as it is completely automated and does not need any third-party assistance. 

It empowers businesses and other institutions where officials/third parties cannot commute for in-person PAN verification. Some of the top sectors like BFSI, Retail, FMCG, Pharmaceutical, and many more can leverage AuthBridge’s integrated API technology to onboard more customers, clients, and vendors with instant PAN verification.

AuthBridge is India’s largest authentication and background verification company. With 150+ instant verification APIs, AuthBridge has changed the game when it comes to identity verification in record time. From Aadhaar card verification to GST number verification or getting a CIBIL score report, 

Why Is Driver License Verification Important For Businesses

Why Is Driver License Verification Important For Businesses?

The driving license is an administrative document that gives the right to a person to legally drive a vehicle on public roads. A driving license not only authorizes an individual to legally drive on public roads but is also used as proof of identity, age, and address in non-driving contexts. It is an equivalent of other forms of personal identification documents like Aadhaar cards, passports, PAN, Voter IDs, etc. 

But with the advent of time, counterfeiters/fraudsters are becoming smart as they are utilising duplicate/forged driver licenses to dodge the identification process. A driving license is one of the most easily forged documents. 

Rise of Fake/Duplicate Driving Licenses

Government data estimates that every third driving license in India is a fake document. The Road Transport and Highways Minister – Nitin Gadkari said in Parliament that about 30% of driving licenses in India are fake. Out of 18 crore driving licenses, an estimated 5.4 crore of them fall under the “bogus” category.

Fake or duplicate driving licenses can lead to a substantial increase in identity theft causing an imminent threat to a business’s reputation and financial assets – especially in industries such as Shared Mobility, Delivery & Logistics, Transportation, and much more. It is difficult to identify spurious and falsified driving licenses with the naked eye.

 

AuthBridge’s Driver License Verification API for Identification

Carry out real-time and seamless dl verification processes with AuthBridge’s driver license verification API. Provide the image Driving License or DL number as input to fetch instantaneous verification responses for the following data points.

  • Name and image of the individual
  • DL number
  • DOB, age, and gender
  • Category and type of vehicle authorized
  • Issue and expiry timeline
  • Address of the individual
  • Issuing RTO Details

Screen out false licenses/underage drivers and help onboarding genuine customers, employees, drivers, and other third parties.

 

Top reasons to get AuthBridge’s Driver License Verification API

  • Seamless Integration: Businesses often struggle with manual verification paperwork during high-volume recruitments and onboarding. Our industry-leading APIs will ensure seamless integration with your existing workflows and processes and speed up your onboarding process.
  • Onboard new drivers/renters in a few seconds: You need to onboard individuals with a valid driving license especially when you are onboarding drivers or vendors for your mobility, and logistics-related businesses. DLs should be authentic and should have not crossed the expiry date. Our verification APIs extract details of the vehicle/driver from DL and check the driver’s license status for seamless verification.
  • Safeguard your business from illegitimate drivers: Any individual sitting in the driving seat must possess a valid DL as with ‘driving’ also comes a sense of responsibility. Our Driver License Verification API helps businesses filter out bad actors, underage drivers, and fake/forged DLs before renting out a car, bike, or recreational vehicle.
  • Real-time verification: The turnaround time of the API is very low, assuring real-time and instant verification of driving license. With our instant DL verification API, you just need to enter the details of the DL or simply upload a photo of the DL. The OCR will extract the data and validate it with government databases in real-time.
  • Protection against identity frauds: Validate the authenticity of customers, employees, and third parties and detect document fraud and identity theft. Mitigate financial and reputational risks when onboarding drivers, delivery partners, vendors, renters, merchants, etc.
  • Plug and Play APIs: Our industry-leading APIs ensure seamless integration with your existing workflows and processes
  • Comply with regulations: Stay compliant with regulations i.e. KYC (Know Your Customer), AML (Anti-Money laundering), CFT (Counter-Terrorist Financing) Directive, GDPR (General Data Protection Regulation), etc.

AuthBridge is India’s largest authentication and background verification company. If you are interested in our Driver’s License verification API or any other verification solutions for your business, share your contact details below.

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