Identifying fake and ghost identities is one of the major challenges organizations face these days. Is the authenticity of the third parties or business partners verified before they are being onboarded? Are there any frauds or risks associated with them? In an era where third-party risks are in the news daily and frauds seem to be rising annually, every organization needs Aadhaar card verification to validate the genuineness of the parties and reduce the risk of compliance failures.
While onboarding individuals or business entities on the platform, Aadhaar card verification ensures that the entity which is being onboarded is not fraudulent and is an individual who s/he claims to be. This applies across use cases like bank account opening, lending journeys, real money gaming withdrawals, third-party onboarding, insurance journeys, and many more.
It is one of the key practices that organizations use before onboarding the following:
1) Partner Onboarding (like delivery partners, or gig workers)
2) Customer Onboarding (for KYC and AML in case of financial institutions)
3) Supplier Onboarding, Merchant & Vendor Onboarding (across different industries)
4) Real money gaming players (for secured online money transactions)
The How of Aadhaar Card Verification
The Aadhaar Card number serves as proof of identity and address across India. It is a 12-digit unique identification number allotted by the Unique Identification Authority of India (UIDAI). The number is unique as it is linked to the individual biometrics and it cannot be duplicated. By conducting Aadhaar Card verification, organizations can track fake and ghost identities and take preventive actions right at the initial stages of onboarding. What’s better than Aadhaar number verification is instant online Aadhaar verification using Aadhaar card verification API.
Aadhaar-based identification enables organizations to eliminate duplicates or fake identities and ensure that only genuine people are associating with crucial business functions. Organizations can contact the central Unique Identification database from anywhere in the country to authenticate a beneficiary’s identity by availing of authentication services.
Udyam Aadhaar Verification
Make your onboarding process safer, faster, and smarter by verifying the legitimacy of the MSME merchants on your platform. With AuthBridge’s Udyam verification API, you can now verify and onboard merchants at scale without worrying about being associated with a fraudulent identity (as they are authorized by the Ministry of MSME).
With Udyam Aadhaar number as input, you will receive multiple data points that help you with the following information.
- Name of the merchant
- Registered business address
- Activity the merchant is involved in
- Period of validity of the Udyam Aadhaar number
- Type of merchant (micro/ small/ medium)
- Social category\
Online Aadhaar Verification during COVID
When COVID-19 hit the world, different types of fraud started surfacing such as impersonation, identity thefts, fake documents, account takeovers, etc. As physical identity verification processes became less efficient during those times, online Aadhaar verification emerged as a saviour. It came with remote, faster and more accurate ways to detect identity fraud. Methods like digital ID document verification, biometric tests, liveness detection, and more have given organisations an edge over fraudsters.
AuthBridge is India’s largest authentication and background verification company. If you are interested in Aadhaar card verification or any other verification solutions for your business, share your contact details below.
