The economy of today is hugely reliant on ‘Trust On Demand’. Think about it. A lot of commonly used on-demand services like cabs, food delivery etc. will not have any business if it weren’t for trust. Just ten years ago, the entire concept of such businesses seemed like a far-fetched idea. But with advancements in technology and the world getting more and more digitized every day, the economy requires us to be more trusting of other individuals and groups. As a result of this pressing need for trust enablement for the growth of the economy, TrustOnDemand ™ was born. Using this game-changing development, identity verification is now simpler and easier than ever.
The biggest beneficiaries of TrustOnDemand™ are businesses, HR industry, as well as the government agencies. Earlier, screening candidates was a complex, tiring task which took extremely long. Moreover, since it was manually done, there were chances for many possible mistakes which could cost the organisation lakhs of rupees. Such risks include improper identity verification and background verification, where the candidate provides false information about himself or herself, and the company is not aware of these.
This not only compromises the safety and security of people involved but also gives way to various criminal activities. In fact, in 2016, a whopping 77 percent of all credit card frauds in the country were due to identity theft. And according to a research conducted by AuthBridge, one out of every six applicant lies on their resume in India. These are clear examples of why India needs a better identity verification process, and TrustOnDemand™ is exactly the solution you need.
With the power of TrustOnDemand™, trust enablement can be easily and quickly achieved through identity verification. Any individual or group/organisation can be verified and proved that they are exactly who they claim to be by checking not only their identity but profile and reputation as well.
One of the most noteworthy evidence of the changes we see in the country, thanks to TrustOnDemand™, is gathering of Aadhaar, the largest biometric database in the world. Every citizen has a unique set of numbers, which you can use to perform identity verification on any individual, be it your candidate, potential partner, interviewee, and so on. In addition to this, courts all over the country are starting to adopt, and many of them have successfully adopted, digitization of records. With access to digital records of criminal and legal activities of any individual organisation, it becomes possible to not only perform a thorough and accurate identity verification but also a background and criminal check.
Employment and education records in the country are also been digitised. This makes it possible to conduct pre-employment verification processes for companies, which is a crucial process, considering not just security risks, but financial risks as well. Access to such reliable databases enables the smooth functioning of the entire economy as a whole, since the cornerstone, that is trust, can be established almost instantaneously with TrustOnDemand™.
Also Read: TrustOnDemand™: The Game Changer for Hiring & On-boarding
IndiaStack is a set of Application Program Interfaces (API), that plays a key role in the country’s strive to become fully digitised. Government agencies and businesses will be able to utilise a unified digital platform in order to bring India into an age of “presence-less, paperless as well as cashless service delivery”.
Aadhaar and eKYC are all results of IndiaStack, a key player for the success TrustOnDemand™ have seen so far. Even though the journey so far has been worthy of a celebration, the ultimate goal is to establish a unified master database where background verification can be achieved with just a single click anywhere at any time.
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