Shivangi

April Edition – What’s New at AuthBridge: The Latest Product Developments

Dive into the world of authentication innovation with AuthBridge in our April edition, where we showcase our latest product advancements.

In this blog post, we invite you to explore our authentication product suite’s latest updates and improvements.  This month, we focused on optimising efficiency, streamlining processes, and enhancing user-centric experiences. Each innovation is crafted with precision to set new benchmarks in the industry and equip our clients for triumph.

iBridge

  • Effortless Candidate Onboarding with Digilocker Integration:  Say goodbye to manual document uploads! Our iBridge platform now seamlessly integrates with Digilocker, allowing candidates to effortlessly fetch education documents from over 1000 institutions in a simple 3-step process. This translates to faster turnaround times (TAT) for you and a smoother onboarding journey for your candidates.
  • Client Management Made Easy:  Multitasking just got simpler!  Our Client UI 2.0 now allows Master clients to effortlessly switch between entities and view dashboards with a single login. Additionally, you can create secure, separate admin access for vendors to view, initiate, and track cases on the platform. Making the process seamless and effortless.
  • Enhanced Document Verification: Our new upgrade has made documenting much easier. Our platform can verify whether the uploaded document is correct, eliminating the need for manual supervision.

SignDrive

  • Signer Choice for Signing Methods: When using SignDrive, signers have the flexibility to choose their preferred signing method before signing a document. This means they can select from different options, such as using their Aadhar (unique identification) details, signing with a digital signature certificate (DSC), or opting for a contract-only signing method based on their specific requirements. SignDrive offers signers the ultimate convenience.
  • Streamlined Document Delegation and Rejection: SignDrive allows users to delegate the signing of a document to others, ensuring the documents reach the right person for approval.  This feature is particularly useful in Banking, Financial Services, and Insurance (BFSI) scenarios where documents often require specific authorisations.
  • Prepaid Signing Models for Cost Control:  Introducing prepaid models for clients!  Our Electronic Payment and Collection (EPAC) model combines signers and documents, potentially offering bundled pricing structures where the signing cost includes document processing or handling fees. Additionally, you can opt for a pay-per-signature model based on Aadhar verification, providing greater cost control.

TruthScreen

  • Effortless PAN Online Verification: Now, you can easily check the “match” and “unmatch” status of PAN numbers provided by the candidates against the date of birth and name. You can also easily verify parameters like name, date of birth, PAN status, and Aadhar seeding status.
  • Pincode Geofencing: Experience enhanced address verification with our latest upgrade: Pincode Geofencing. Now, clients can effortlessly obtain real-time status updates on essential address verification details by simply entering the candidate’s pin code. Our solution provides comprehensive insights including district, post office, state, and subdistrict, ensuring a more efficient and reliable address verification process for you.
  • Latitude and Longitude Geofencing: In addition to the pincode geofencing feature, this new upgrade is going to strengthen the address verification for our clients further. Clients can get real-time status on the key aspects such as center code, district, pincode, population group, post office, revenue Center, state, subdistrict, and tier.
    • In-House OCRs LIVE: Experience seamless efficiency with our In-House OCRs. Our tailored in-house OCR solutions empower you to swiftly and precisely extract crucial details from various documents, including experience/relieving letters, school mark sheets, appointment letters, offer letters, and resume parsers. By automating this extraction process, we ensure you save valuable time and resources. Moreover, our solution guarantees utmost accuracy and reliability, streamlining your verification processes effortlessly.

    OnboardX

    • Enhanced Dashboard with Expanded Features: Our upgraded dashboard empowers clients with comprehensive visibility into the onboarding progress of each vendor or candidate across multiple touchpoints. Now, clients can have a centralised view of critical action points such as case status, pending submissions, and document verification status. Moreover, detailed logs are readily available for download, ensuring seamless updates on progress. This enhancement accelerates turnaround times by simplifying processes, reducing steps, and swiftly identifying obstacles.
    • Ageing Analysis: Clients now have the capability to analyse data and cases based on time status details. In addition to this, clients can now also track month-on-month statistics for case and form completion, as well as case approvals, to gain invaluable insights into case progression and delayed stages.
    • Customised Filters: Our latest technological advancement empowers clients to tailor filters to their data requirements. Whether it’s sorting data by approval status, location, case status, or package type, now clients will get unparalleled flexibility with this new upgrade. Additionally, for instances where custom data collection is required, clients can now add supplementary filters to meet unique needs.
    • Access Management: Now, depending on the client role and need, you will get the custom dashboard, which will have selective parameters based on the role and access so that there is no hassle of segregating and filtering out the information and concerns surrounding data privacy.

    These updates represent a significant leap forward in the AuthBridge product suite.  We’re committed to continuous innovation, and these features are just the beginning.  By leveraging cutting-edge technology and a focus on user experience, we aim to empower our clients to not only excel today, but also thrive in the ever-evolving landscape of authentication and verification.

    Stay tuned for even more exciting advancements as we continue to push the boundaries of what’s possible.  Partner with AuthBridge and unlock a future of streamlined workflows, enhanced security, and exceptional user experiences.

    By Shivangi, ago
    Product-blog-image (1)

    What’s New at AuthBridge: The Latest Product Developments

    Step into the realm of authentication innovation with AuthBridge as we unveil our latest product developments. We’re excited to introduce you to the future of authentication, where efficiency meets security and user experience is paramount.

    In this blog, we’ll take you on a journey through the newest features and enhancements across our authentication product suite. From streamlining onboarding processes and enhancing client support to revolutionizing document management and advancing identity verification, each innovation is meticulously designed to redefine industry standards and empower our clients for success.

    OnboardX

    • Multi-lingual Forms for faster Third-party and Gig worker Onboarding: Conduct tests for your drivers and gig workers on our platform in multiple languages, such as English, Hindi, and Kannada. Our AI-powered onboarding software, OboardX, now offers multilingual support to cater to diverse linguistic preferences. Test forms are available in Kannada, Hindi, and English, with plans to include more languages. This update particularly benefits businesses with a significant blue-collar workforce, ensuring a seamless onboarding experience across various geographies and backgrounds.
    • Customisable Onboarding Journeys: Businesses can now customise their onboarding journeys based on geographical locations, entity types, and regional requirements. This will benefit businesses with a presence across multiple countries or states and may need to comply with different regulations and documentation processes in each location. For instance, in India, there may be a requirement to submit documents different from those in the United States, and the latest updates in OboardX can adapt to accommodate these variations seamlessly. This feature allows for the adaptation of documentation processes to comply with country-specific regulations, enhancing efficiency and compliance.

    iBridge

    • Chatbot based Customer Support: Get easy access to FAQs and helpful articles on the iBridge’s interface. Receive real-time assistance and guidance, improving their understanding of and use of our products.

    • End-to-end Ticket Management: Create, track, and resolve support tickets directly through the iBridge platform, eliminating the need for separate portals like Freshdesk. Instead of navigating to a different support platform, clients can log into iBridge and manage a ticket directly within the same interface. This centralised approach enhances efficiency and simplifies the ticket resolution process.

    • Improved Invoicing for Postpaid Clients: With in-platform invoicing on iBridge, accessing invoices and related documents is now more convenient for postpaid clients. Previously, clients had to rely on email to receive invoices and related documents each month, requiring manual intervention. With this latest update, clients can now conveniently access and download invoices and annexures directly from iBridge. This enhancement offers clients greater autonomy and efficiency in managing their billing processes by eliminating the need for manual intervention and reducing dependency on account managers.

    SignDrive

    • Compare Documents on the GO: This latest product update for SignDrive will enable the clients to compare documents on the go. Now, clients can easily track any changes made to a document after it has been signed by uploading and comparing both the post-signing and signing documents. This feature empowers clients to ensure the integrity and accuracy of their documents, providing them with greater confidence in their agreements and transactions. Whether it’s verifying contract modifications, detecting unauthorised changes, or simply confirming document authenticity, the ability to compare documents seamlessly enhances the overall document management process for our clients.
    Compare-Documents
    • Name Match and Liveness check for Aadhaar 


    Aadhaar Name Match: Now, clients can confirm whether the assigned signer uses their own Aadhaar details to sign the document. By matching the name on the Aadhaar card, this latest update will prevent non-signers from using unauthorised Aadhaar cards to sign documents. This robust identity verification process adds an extra layer of security, safeguarding against fraudulent activities and unauthorised access to sensitive documents.

    add-recipient

    Liveness Feature: The liveness detection feature enhances identity verification by capturing a picture of the signer while they are signing the document. This will ensure the signer is physically present and actively participating in the signing process, preventing impersonation and unauthorised access. Clients can rest assured that only authorised individuals are signing documents, mitigating the risk of fraud and ensuring compliance with regulations.

    Take-a-picture
    • Bulk Compose with Bulk Stamp: Now, clients can send documents to multiple signers in one go with stamp papers as part of the agreements/affidavits/deeds, etc. This capability simplifies managing and executing bulk agreements, saving clients time and effort.

    • Geo Location in the audit trail: This feature provides clients with enhanced transparency and compliance by capturing the geolocation of signers in the audit trail. Now, clients can track the physical location of signers when they electronically sign documents, adding an extra layer of security and accountability to the signing process. Whether ensuring that agreements are signed within authorised jurisdictions or verifying the authenticity of signatures, the Geo Location feature offers clients valuable insights for compliance purposes.

    TruthScreen

    • GST Advanced Version 2: With this update, clients can conduct detailed GST verification, including HSN, branch, and filing details. Additionally, clients can now verify anything against GST, such as office location or branch location. This comprehensive verification capability enables clients to ensure accuracy and compliance in their GST-related processes, enhancing efficiency and reducing risks associated with incorrect or incomplete information.

    • Salary Slip OCR: Our AI and ML-trained model enable clients to extract details from salary slips quickly and accurately. By automating the extraction of details from salary slips, clients can save time and resources while maintaining accuracy and reliability in their salary-related information verification.

    • PAN Verification API: Multiple advancements have been made in the PAN verification API, including the ability to verify whether the entered PAN and Aadhaar numbers are linked together. With PAN Aadhaar seeding, clients can process large sets of data in a short time, ensuring faster processing and a 99.9% success rate.

    • Fetch UAN Details Against Aadhaar: This feature allows clients to fetch details of the UAN number registered against the Aadhaar Number. This capability simplifies retrieving UAN-related information, enabling clients to access essential details quickly and efficiently. By facilitating Aadhaar to UAN linkage, this feature enhances the convenience and accessibility of UAN-related services for clients.
    By Shivangi, ago
    Drug-screening-blog-image

    Ensuring Workplace Integrity: Importance of Employee Drug Screening

    In the modern corporate landscape, ensuring workplace integrity isn’t just a matter of policy; it’s fundamental to fostering a healthy, productive environment for employees and stakeholders. 


    Ensuring integrity within your workforce is paramount, and one indispensable measure for achieving this is employee drug screening. Imagine discovering that your new or existing employees are under the influence of drugs, particularly those handling critical business operations. Such a revelation could have profound consequences, impacting your business’s financial health and reputation. Consequently, conducting drug checks on employees during onboarding and at regular intervals becomes not just advisable but imperative.

    Why Drug Screening Matters

    • Preventing Workplace Incidents: Substance abuse significantly increases the risk of workplace accidents and injuries. Employees under the influence of drugs or alcohol are more likely to cause accidents, leading to injuries or property damage. By implementing drug checks, employers can deter drug use in the workplace, thereby reducing the likelihood of accidents and subsequent absenteeism due to injuries. According to a study by the National Institute of Mental Health and Neuro Sciences (NIMHANS), substance abuse contributes to a significant portion of workplace accidents in India, with alcohol alone accounting for approximately 3% of workplace fatalities. Implementing robust drug screening protocols serves as a proactive measure to deter substance abuse, thereby reducing the likelihood of accidents, injuries, and property damage.

    • Enhancing Employee Productivity and Accountability: Drug checks establish clear expectations regarding employee behaviour and performance standards. When drug testing is part of the standard protocol, employees are more likely to adhere to workplace policies and regulations. This increased accountability can deter substance abuse and reduce absenteeism among employees who might otherwise engage in risky behaviours. The Associated Chambers of Commerce and Industry of India (ASSOCHAM) estimates that substance abuse costs Indian businesses billions of rupees annually due to lost productivity. By instituting regular drug screening initiatives, employers can cultivate a focused, engaged, and resilient workforce, driving organisational success and competitiveness in the marketplace.

    • Compliance with Legal Standards: Indian labour laws underscore the importance of maintaining a safe and healthy work environment. Employers are legally obligated to safeguard employees from hazards, including substance abuse. Implementing comprehensive drug screening aligns with regulatory requirements. It demonstrates a commitment to compliance with statutes such as the Occupational Safety and Health Act (OSHA), the Narcotic Drugs and Psychotropic Substances Act (NDPS), and other relevant legislation. Failure to uphold these standards can result in legal liabilities, fines, and reputational damage for organisations.

    • Improving Workplace Morale: Substance abuse can negatively impact workplace morale and productivity. Employees may feel demotivated or frustrated when they have to pick up the slack for absent or impaired colleagues. By enforcing drug-free workplace policies through regular checks, employers can create a safer and more positive work environment, leading to higher morale and lower absenteeism rates.

    • Promoting Health and Wellness Programs: Periodic drug screening catalyses employers to implement health and wellness programs that more strategically address substance abuse issues. These programs may include education, counselling, and support services to help employees overcome addiction and adopt healthier lifestyles. Organisations can promote workplace security and a culture of wellness.

    • Encouraging Treatment and Rehabilitation: Many employers offer assistance programs or referrals to support services for employees struggling with substance abuse. By encouraging employees to seek help and providing access to resources, employers can facilitate recovery and reduce absenteeism associated with ongoing substance abuse issues.

    Drug screening at periodic intervals plays a crucial role in reducing increased absenteeism among employees by addressing underlying substance abuse issues, preventing workplace incidents, promoting health and wellness programs, enhancing accountability, improving workplace morale, and encouraging treatment and rehabilitation. 

    By implementing comprehensive drug testing protocols, employers can create safer, healthier, and more productive work environments for their employees.

    Now, let’s explore why drug screening matters and why AuthBridge’s Drug Screening is the best value solution for employers.

    Why Choose AuthBridge for Drug Screening

    AuthBridge’s drug screening empowers organisations to implement the most cost-effective solution for drug checks, ensuring workplace safety and productivity through our reliable verifications.

    1. Nation-wide Presence: With a presence across 28 states and 8 Union Territories, AuthBridge offers comprehensive coverage, spanning 4000 cities across India. This expansive reach ensures accessibility and convenience for employers nationwide.

    1. Near 100% Accuracy: AuthBridge’s drug screening boasts less than 1% discrepancy with test results, providing employers with reliable and trustworthy data to make informed decisions.

    1. One-Stop BGV Solution: AuthBridge offers seamless integration of diagnostics and Background Verification (BGV) checks on a single platform. This holistic approach streamlines the screening process, saving employers time and resources.

    1. Customizable Packages: Recognizing that different businesses have unique needs, AuthBridge allows employers to build their own drug test packages tailored to their specific requirements. This flexibility ensures employers can address their concerns effectively while staying within budget constraints.

    1. Fast Reporting: Time is of the essence in the hiring process. With AuthBridge, employers can access test results promptly through the platform dashboard within 24 hours, facilitating swift decision-making and reducing recruitment delays.

    6. Data Compliance & Confidentiality: AuthBridge prioritises data security and compliance with all employee screening regulations. Employers can trust that sensitive information remains confidential and handled with the utmost care and diligence.

    Final Thoughts

    In conclusion, employee drug screening is not just a regulatory requirement; it’s a strategic investment in safeguarding workplace integrity, promoting productivity, and protecting brand reputation. 

    With AuthBridge’s comprehensive and reliable drug screening solutions, employers can effectively mitigate risks associated with substance abuse while fostering a culture of safety and trust within their organisations.

    By Shivangi, ago
    ITR-blog

    Common Mistakes to Avoid When Filing Your Income Tax Return (ITR)

    Filing your Income Tax Return (ITR) can often feel like navigating a maze of rules and regulations. However, making mistakes on your tax return or any compliance oversight can lead to penalties, delays, or even an audit by the tax authorities. Many do-it-yourself tax filers make mistakes in their returns, leading to notices from the tax department.

    In this blog, we have collated some common mistakes you should avoid when filing your income tax returns. Avoiding these mistakes and double-checking your return before submission can ensure a smooth tax filing process. 

    Let’s discuss further:

    • Not Linking Your PAN to Aadhaar Card: One common mistake taxpayers make is failing to link their Permanent Account Number (PAN) to their Aadhaar card. The government of India has made it mandatory to link PAN with Aadhaar to file ITR and complete various financial transactions. Failure to do so may result in penalties imposed by the Income Tax and difficulties in completing financial transactions. Linking PAN with Aadhaar helps verify your identity and facilitates faster processing of tax refunds. To link your PAN with Aadhaar, you can visit the Income Tax Department’s official website or use other designated methods provided by the government. Ensure that your personal information matches across both documents to avoid any discrepancies.


    • Incorrect Personal Information/Bank Details

    One of the most basic yet crucial mistakes is entering incorrect personal details such as name, PAN Card (Permanent Account Number), address, or bank details. Double-check all personal information before submitting your return to ensure accuracy. Similarly, providing incorrect bank details for tax refunds can lead to delays or even non-receipt of refunds. Ensure all your details are accurate and up-to-date.

    • Mismatch in Form Selection 

    Taxpayers often make the mistake of selecting the wrong ITR form for their income sources. Each form is designed for specific types of income, so ensure you choose the appropriate form based on your income sources to avoid discrepancies.


    • Not Disclosing Other Income Sources or Exemption Income

    Failing to disclose all sources of income is a common mistake. Whether it’s income from salary, rental properties, investments, or freelance work, ensure you report all income accurately to avoid penalties for underreporting. Also, remember that income such as dividends from certain investments or interest earned on tax-free bonds may be exempt from tax but still needs to be reported in your ITR. Ensure you include all exempt income to avoid discrepancies.


    • Ignoring TDS Details

    Tax Deducted at Source (TDS) details must be correctly reported in your ITR. Ensure that you include all TDS deductions from your employers, banks, or any other deductors. Cross-check the details with your Form 26AS to avoid any discrepancies.


    • Not Reconciling Form 26AS

    Form 26AS is a consolidated statement that contains details of tax deducted on your behalf and tax deposited by you. Failure to reconcile the details in Form 26AS with your ITR can lead to inconsistencies and potential notices from the tax department.


    • Forgetting to Claim Deductions

    Tax deductions can significantly reduce your taxable income, but many taxpayers forget to claim them. Take advantage of Section 80C, 80D, 80G, etc. deductions, and keep all necessary documents handy to support your claims.


    • Not Filing Within the Deadline

    Missing the filing deadline for your ITR can result in penalties and interest charges. To avoid such consequences, file your return on time, preferably well before the due date. After filing your return, stay vigilant for any tax notices or communications from the tax department. Ignoring or delaying response to such notices can lead to further complications.

    For the latest updates on ITR filing deadlines and other important announcements, please visit the official Income Tax e-Filing portal. Check the portal regularly for any updates regarding filing deadlines and compliance requirements.

    • Choosing Tax Slabs – Old vs New Regime: One significant decision taxpayers face is choosing between the old and new tax regimes. Each regime comes with its own tax slabs and deductions, making it crucial to assess which one aligns better with your financial situation.  Under the old tax regime, taxpayers can avail of various deductions and exemptions, such as Section 80C (investment in specified instruments), Section 80D (health insurance premium), and others. Tax slabs are progressive, with different rates applicable to different income brackets. 

    The new tax regime offers reduced tax rates but eliminates most deductions and exemptions available under the old regime. Tax slabs are simplified, with lower rates applicable across income brackets.

    Here’s a comparison to help you make an informed decision:

    Income BracketOld Tax Regime (%)New Tax Regime (%)
    Up to ₹2.5 lakhsNilNil
    ₹2.5 lakhs to ₹5 lakhs5%5%
    ₹5 lakhs to ₹7.5 lakhs20%10%
    ₹7.5 lakhs to ₹10 lakhs20%15%
    ₹10 lakhs to ₹12.5 lakhs30%20%
    ₹12.5 lakhs to ₹15 lakhs30%25%
    Above ₹15 lakhs30%30%

    Tax Deductions Available in ITR

    Here are some common deductions you can avail of while filing your Income Tax Return (ITR):

    DeductionApplicability
    Section 80CInvestment in specified instruments such as PPF, EPF, ELSS, etc.
    Section 80DPremium paid towards health insurance policies
    Section 80GDonations to specified charitable institutions
    Section 24(b)Interest paid on home loan
    Section 80EInterest on education loan
    Section 80TTAInterest on savings account
    Section 80CCD(1B)Additional deduction for investment in NPS beyond Section 80C limit

    These deductions can significantly reduce your taxable income, lowering your tax liability. Explore all available deductions and claim those applicable to your financial situation.

    Ensuring a smooth tax filing experience isn’t just about ticking boxes—it’s about safeguarding financial integrity. Your vigilance in avoiding common mistakes is the cornerstone of a stress-free tax season. 

    For businesses, integrating standardised practices and innovative tech measures like the ITR verification API is the key to optimising efficiency, ensuring accurate filings, and maintaining compliance with confidence.

    Benefits of ITR Verification API to Businesses

    Overall, the ITR verification API offers numerous benefits to businesses and companies, including time savings, accuracy, integration capabilities, cost savings, compliance, security, scalability, and enhanced experience. It makes the tax filing process more efficient and streamlined. 

    • Time-saving for Bulk Verification: For businesses and companies with multiple employees or entities, verifying individual tax returns manually can be time-consuming. The ITR verification API automates this process, saving valuable time for tax professionals and HR personnel who would otherwise have to verify each return manually. Businesses can verify tax returns in bulk and process a large volume of returns quickly and efficiently. This is especially beneficial for companies with a large workforce or multiple subsidiaries, where verifying individual returns manually would be impractical.

    • Accuracy: Manual verification of tax returns can be prone to errors, leading to discrepancies and potential penalties. By automating the verification process, the API ensures greater accuracy and consistency in verifying returns, reducing the risk of errors and ensuring compliance with tax regulations.
    • Compliance & Data Security: Ensuring compliance with tax regulations is crucial for businesses and companies to avoid penalties and legal issues. The ITR verification API helps businesses stay compliant by providing a standardised and transparent verification process, reducing the risk of non-compliance and associated consequences. The API employs robust security measures to protect sensitive information, ensuring data privacy and safeguarding against unauthorised access and data breaches.

    If you are unsure about any aspect of your tax return, consider seeking professional advice to ensure compliance with tax laws and regulations.

    By Shivangi, ago
    ask-the-question (1)

    Questions to ask when choosing a TPRM and due diligence vendor

    In today’s intricate business landscape, third-party risk management (TPRM) and due diligence have become paramount for enterprises seeking to safeguard their operations, reputation, and compliance. Businesses rely on numerous third parties to ensure seamless operations, increase profitability, and achieve a faster go-to-market. Third parties such as suppliers, dealers, distributors, vendors, and merchants play an integral part in managing different supply chain functions, overcoming the demand-supply complexities, filling the gaps for smoother operations, and expanding channels to customers.

    As supply chains become more complex and interconnected, the risks associated with vendors and suppliers multiply. To combat this, organisations are extending their due diligence efforts to mitigate risks related to third-party dependencies, geopolitical instability, environmental sustainability, and other factors that could disrupt their operations. With a robust due diligence solution, businesses can assess unforeseen risks and vulnerabilities, exposing a business to reputational, regulatory, and financial risks. 

    Therefore, choosing the right TPRM and due diligence is no longer optional – it is a strategic decision to assess the hidden risks at a much earlier stage and maintain the success and resilience of your business.

    Why Vendor due diligence requirements are expanding?

    • Rising Cybersecurity Threats: With the proliferation of cyber threats and data breaches, organisations are under pressure to ensure that their vendors have robust cybersecurity measures in place. Vendor due diligence now often includes assessing a vendor’s cybersecurity policies, procedures, and infrastructure to mitigate the risk of data breaches and cyberattacks.

    • Regulatory Compliance: Regulatory bodies are becoming increasingly stringent in their requirements for due diligence. This is particularly true in industries such as finance, healthcare, and technology, where there are significant risks related to data security, financial integrity, and regulatory compliance. Regulations such as GDPR, HIPAA, SOX, and various anti-money laundering (AML) laws necessitate thorough due diligence processes to ensure vendors comply with legal requirements.

    • Increased Outsourcing: Many organisations outsource their operations to third-party vendors to reduce costs and focus on core competencies. With this increased reliance on vendors, there’s a greater need to thoroughly vet and monitor them to ensure they meet the organisation’s standards and requirements.

    • Protecting Reputation and Brand: Organizations recognise that their reputation and brand can suffer significant damage if a vendor is involved in unethical practices, data breaches, or other scandals. Conducting thorough due diligence helps mitigate these risks by identifying potential issues before they escalate.

    • Globalisation: With businesses operating on a more global scale, vendor due diligence must account for differences in laws, regulations, and cultural practices across different regions. This complicates the due diligence as organisations must comply with various international standards and regulations.

    • Financial Stability: Assessing third parties’ financial stability has become increasingly important, especially in uncertain economic times. Organisations want to ensure that their vendors have the financial strength to fulfil their contractual obligations and avoid disruptions to their operations.
    • Focus on Ethical and Social Responsibility: Organizations are under increasing pressure to ensure their vendors adhere to ethical and socially responsible practices. This includes labour practices, environmental impact, diversity and inclusion policies, and adherence to human rights standards.

    How does third-party due diligence make a difference?

    Third-party due diligence involves implementing checks and balances within your new vendors, suppliers, or third-party onboarding journeys to mitigate risks. This process usually involves reviewing the onboarding contract, third-party completed assessments, external intelligence, and continuous monitoring to identify and prevent risks proactively. 

    All of this is weighed against your organisation’s level of risk tolerance.

    End-to-end visibility throughout the Third-Party Onboarding Lifecycle

    So, before onboarding a TPRM and due diligence vendor, conducting thorough research and asking the right questions is essential.

    What type of questions across what categories you should consider?

    In this comprehensive guide, we’ll explore the key inquiries to consider when selecting a TPRM and due diligence vendor.

    Understanding Your Needs

    • What are your specific risk management and due diligence requirements?

    Define your organisation’s risk appetite, compliance obligations, and business objectives to identify the scope and priorities for TPRM and due diligence efforts.


    • Which industries do you operate in, and what are the associated regulatory challenges?

    Different industries face unique regulatory landscapes and compliance demands. Ensure your vendor understands your industry’s nuances to deliver tailored solutions. For example, a financial institution may prioritise rigorous financial checks to ensure regulatory compliance and mitigate financial risks. In contrast, a technology company may prioritise cybersecurity assessments due to the sensitive nature of the data involved. Manufacturing and e-commerce companies will emphasise criminal and court record checks more. 



    • What core areas do you want your third-party risk management solutions provider to conduct due diligence efficiently to meet your needs? Does your vendor provide comprehensive verification?

    When considering a vendor to conduct due diligence efficiently, there are several core areas you need to prioritise to ensure your due diligence needs are met comprehensively. These areas include:

    • Corporate Identity Checks: Authenticity of the corporate identity of third-party/business partner to establish trust and reliability in their services.
    • Financial Standing: Assessing the financial stability and performance to gauge third parties’ capacity to fulfil obligations and sustain long-term partnerships.
    • Criminal Checks: Conduct checks on criminal watchlists to mitigate risks associated with a history of unlawful activities of third parties.
    • Court Records Checks: Reviewing court records data to discover past legal issues or disputes involving the vendor, offering valuable context for decision-making.

    • Compliance Assessment Checks: Ensuring compliance with relevant regulations and industry standards to mitigate legal and reputational risks.
    • Reputational Checks: Evaluating a company’s reputation within the industry and among previous clients helps gauge its credibility and track record of delivering quality services.

    Before selecting a due diligence solution provider, businesses must establish their priorities to ensure that their specific needs are met effectively. Knowing priorities is essential for the following reasons:

    • Tailored Due Diligence Approach: Different businesses have varying risk tolerances and compliance requirements. As discussed above, understanding your needs help you get tailored support and ensures all clients benefit from comprehensive verification services. It demonstrates the vendor’s commitment to inclusivity and customer satisfaction, enhancing its appeal as a reliable partner.

    • Industry-Specific Expertise: Industries such as healthcare, finance, and energy have unique regulatory frameworks and compliance standards. A due diligence provider with industry-specific expertise can offer tailored solutions that address sector-specific risks and challenges.
    • Geographical Coverage: Businesses operating globally or engaging with international partners require due diligence providers capable of conducting checks across different jurisdictions. Assessing a provider’s global reach and access to local databases is crucial for comprehensive coverage.

    Stakeholders Involvement in Vendor Selection

    • Who will be the internal stakeholders and decision-makers?

    When selecting a solution vendor for your TPRM needs, assess who should be on the evaluation team and purchasing committee. The internal evaluation team and the purchasing committee can include key stakeholders such as members from procurement, finance, operations, the CFO, the COO, the risk officer, the compliance head, etc.


    • And who are the external stakeholders contributing to the vendor selection process?

    External stakeholders from the vendor’s side, including their product, compliance, operations, legal teams, and support, will also actively participate in the selection process to ensure mutual alignment and compatibility.

    Evaluating Vendor Capabilities

    • What is the vendor’s expertise in TPRM and due diligence?

    It’s crucial to thoroughly assess a vendor’s track record, experience, and industry reputation in providing Third-Party Risk Management (TPRM) and due diligence services. 

    Look for certifications, awards, market presence, and client testimonials as vital indicators of competence. Doing so ensures you partner with a trusted, reliable provider who can effectively mitigate risks and safeguard your business interests.


    • What is the due diligence process and the tech stack of the due diligence provider?

    Inquire about the vendor’s approach to risk identification, analysis, and mitigation. Determine if they leverage advanced technologies, data analytics, and industry best practices to enhance the effectiveness of their processes. 

    Also, assess if the vendor you choose offers online and offline verification capabilities to ensure comprehensive coverage, even in some exceptional coverage.


    • How comprehensive is the vendor’s data coverage and intelligence network?

    Verify the breadth and depth of the vendor’s data sources, including global databases, regulatory repositories, and proprietary networks. Robust data coverage ensures thorough due diligence and risk monitoring capabilities.


    • Does the vendor comply with relevant regulations and industry standards?

    Confirm that the vendor adheres to applicable laws, regulations (e.g., GDPR, CCPA), and industry standards (e.g., ISO 27001) governing data privacy, security, and due diligence practices.


    • How does the vendor protect sensitive information and maintain data integrity?

    Inquire about the vendor’s data security protocols, encryption methods, and access controls to safeguard confidential information. Ensure they have robust measures to prevent data breaches and unauthorised access.


    • What is the continuous monitoring protocol? 

    Continuous risk management calls for continuous monitoring of your third parties. Look for a due diligence solutions provider that has robust technology and processes in place for the same.

    Assess key risk indicators among your third parties on an ongoing basis. Ensure your vendor offers continuous monitoring to enable early detection of any emerging issues or red flags with third parties. Whether it’s changes in financial health, operational disruptions, or unethical conduct, prompt identification allows organisations to take corrective actions before problems escalate.

    Assessing Flexibility and Scalability

    • Is the solution scalable and flexible?

    As your business grows and operations change, your due diligence needs will evolve. You might need to expand into high-risk regions or cater to more high-risk clients. Perhaps a due diligence task that rarely happened before—that you sometimes used to perform manually—now needs to happen at an automated scale.

    The due diligence solution you use should be flexible enough to meet changing requirements. The integration capabilities and ease of plugging it into your third-party onboarding journeys to onboard more vendors, suppliers, distributors, dealers, etc, faster.

    Additionally, the solution provider should have a global database or partnerships to help you verify the businesses operating internationally.


    • How customizable is the product offering?

    An effective due diligence and risk management solution provider would be the one who understands your business requirements and provides a tailor-made solution. Whether they want a QR-based journey or custom approval flow to make processes efficient for them and make your business build trust among your partners.


    • How can the vendor handle diverse third-party relationships and risk scenarios?

    Evaluate the vendor’s ability to address various risk factors, from financial stability and regulatory compliance to reputational risks and geopolitical considerations. Ensure they can adapt their methodologies to different industries and business contexts.


    • How is their customer support?

    The true testament of a solution provider is the customer support that they can provide. Do they have dedicated customer support teams, what is the TAT, do they provide training, and channels to connect with them? 

    Assess the vendor’s communication channels, reporting mechanisms, and escalation procedures to ensure transparency, accountability, and responsiveness. Effective collaboration fosters alignment and synergy between your organisation and the vendor.

    Understanding Pricing Structures

    • What is the vendor’s pricing model?

    Understand whether the vendor uses a subscription-based model, a pay-per-check model, or a hybrid approach. This knowledge will help you estimate ongoing costs versus one-time expenses and decide which model aligns best with your operational dynamics and volume of third-party interactions.


    • Are there any hidden costs or fees?

    Inquire about setup fees, integration costs, and any other potential expenses that might not be immediately apparent. Transparency in pricing ensures you can budget accurately and avoid unexpected costs down the line.


    • What is included in the base price?

    Clarify what services and checks are included in the quoted price. Understanding the inclusions will help you assess the comprehensiveness of the service against the price and identify any additional services you might need.

    Determine if the vendor is willing to tailor their pricing structure based on your unique requirements or if they offer bundled services that could provide more value for your investment. In case you need to expand your due diligence efforts beyond the initial scope, understand how additional services are priced. Knowing the cost of add-ons or enhanced checks upfront will help you plan for future needs.

    Selecting the right TPRM and due diligence vendor is a strategic imperative for organisations seeking to proactively manage third-party risks and uphold regulatory compliance. By asking these crucial questions and conducting thorough due diligence, one can identify a trusted partner capable of delivering tailored solutions, mitigating risks, and safeguarding your organisation’s interests.

    AuthBridge - Your Trusted & Reliable Vendor for TPRM & Due Diligence Solutions

    With 18+ years of market presence, 2000+ clients across 50+ industries, and 1 billion proprietary databases and cutting-edge technology, AuthBridge stands out as a trusted partner in comprehensive third-party due diligence and risk management. Whether bringing on a new third party or transitioning your entire third-party ecosystem onto a new platform, our third-party onboarding solution, OnboardX, helps you easily transform the entire process.

    We offer:

    • 200+ Checks: Bouquet of individual and business verification checks
    • Upto 70% Faster TAT: Accelerate third-party onboarding and due diligence 
    • 15 Million+ Monthly Verifications: Comprehensive background checks to build trust with data



    • End-to-end visibility of each case: AuthBridge allows you to initiate the third-party onboarding process in multiple ways while having complete visibility of each case. With complete visibility of where your vendors are in their onboarding and verification journey, you stay on top of the verification turnaround time (TAT) and have a better forecast.

    • Comprehensive Reports & Proprietary Database: You get comprehensive background check reports to help identify trends and make data-driven decisions. With our more than 1 billion proprietary records database, we help you authenticate your vendors, suppliers, distributors and third parties confidently.

    • 50+ Business Verification Checks: Run multiple checks to confirm the credibility and health of your partner’s business – thus safeguarding your business from potential financial or reputational risks.

    • Both Online & Offline Verification Expertise: Our comprehensive verification includes –  a wide array of online checks, site visits to in-person checks. Apart from our online checks, businesses can stay a step ahead with our extensive field force to fast-track the due diligence process for third parties.

    • Customisable Solutions: The third-party onboarding and verification process can be customised per your company’s requirements. This accelerates the onboarding process while optimising effectiveness.

    • Multilingual Forms: Expand your reach and make the onboarding journey more comfortable for the parties with our multilingual onboarding and verification forms.

    • Smooth Integration with Leading ERPs: Integrate with leading enterprise-grade ERPs and CRMs, such as SAP, Tally, Oracle, Microsoft, and others, to maintain the integrity of operations while making them more efficient.


    Third-party Repository: Create a repository of all your partners, vendors, and third parties for easy access. This will allow your team to refer to the data pool to verify and pick the best vendor for the job.

    Final Thoughts

    Remember, the vendor selection process is not just about ticking boxes—it’s about forging a collaborative partnership grounded in mutual trust, expertise, and shared objectives. Invest the time and effort upfront to choose wisely and reap the benefits of a resilient and compliant third-party risk management framework.

    Regarding due diligence and TPRM, diligence in vendor selection pays dividends in risk mitigation and operational resilience. Choose wisely, and empower your organisation to navigate the complexities of today’s business environment with confidence and foresight.

    By Shivangi, ago
    for-Women-day-blog-image-2 (1)

    Turning the Tables: Celebrating Women’s Impact on International Women’s Day

    In a world where women have long been celebrated for their resilience, creativity, and unwavering strength, International Women’s Day 2024 marks a pivotal moment. It’s a day to honour the women who grace our lives with their presence and to spotlight their indispensable role in shaping our collective future.

    As we pause to commemorate this occasion, we’ve decided to turn the tables this time and let men take centre stage.

     

    Yes, you read that right!

     

    In a refreshing reversal of roles, we’re putting men at the forefront to acknowledge and celebrate women’s profound impact on their professional and personal journeys.

    Join us as we hear from some of the brilliant minds in our leadership, individuals who have experienced firsthand the transformative power of women in their lives.

    • Ajay Trehan, Founder & CEO, AuthBridge
    • Anil Dhar, SVP – Client Servicing & Founding Member 
    • Raviraj Singh Ghai, SVP – Operations & Founding Member 

    share their stories of how women have been the driving force behind their growth, success, and conquests.

     

    Watch the video here

    Q-1) In a world where stereotypes often prevail, how do you think women challenge traditional norms and bring fresh perspectives?

    Ajay Trehan: 

    I feel women bring very different leadership styles to the table. Women tend to emphasise more collaboration in work, which brings a different kind of flavour to the business rather than the traditional authoritative style of making decisions.

    Anil Dhar: 

    The faith they have in themselves of doing things, doing better things, doing well in society is very different than what it used to be some 15, 20 years back.

     

    Ravi Raj Singh: 

    They are taking up challenges and roles that challenge the image India has built for them over the ages. But I would like to share my wife’s example. In India, we say that when a female is driving, you must be careful—this is the stereotype. But it’s the other way around. When she is driving, she is the one who is very happy and drives comfortably and confidently.

    Q-2) Share a moment when a woman's perspective changed your problem-solving approach.

    Ajay Trehan: 

    It’s hard to identify one event! But there are so many wonderful and capable women working in AuthBridge. I see women making decisions, acting and working the same way as men would have, and, in most cases, being more decisive and engaging in leadership roles. I feel proud that we’ve given them an environment where they can nurture their ambitions and aspirations.

     

    Anil Dhar:

    The zeal with which they are willing to commit to a particular thing, whether it is their work at the office or it is their work at home.

     

    Raviraj Singh Ghai:

    Whenever I’m facing a challenge, I eat less. My face looks very anxious. That’s when I’m reminded to take long breaths and smile a lot because the outputs do not depend on the lot we do. Sometimes, we also need to have faith that the output will be right and keep on doing your effort. 

    Q-3) Give a shout-out to your biggest female cheerleader

    Ajay Trehan: 

    I’ve been fortunate to have some wonderful women in my family, some close friends, and great colleagues. My wife Aarti and my mother have seen me through very different times of my life—happy and sad. We have had some great success, and they ensured that I never get out of the zone of humility.

     

    Anil Dhar: 

    I think my biggest cheerleader has been my daughter.

     

    Raviraj Singh Ghai: 

    One would be very difficult! My mother, my sisters and then I married my wife, who is very strong in terms of her personality. And now, my daughter, for her unwavering support. I am always her hero- so that’s what I enjoy.

    Q-4) If you could step into a woman's shoes for a day, what would you want to learn and why?

    Ajay Trehan: 

    They have the innate ability to multitask and are much stronger mentally than men tend to be. That’s what has made them come so far in the corporate world. 

     

    Anil Dhar: 

    I think multitasking. We say that men and women are equal and share equal responsibilities. But when it comes to home, society and individuals, or even men today, expect that most of the responsibility has to be taken care of by the woman herself.

     

    Raviraj Singh Ghai: 

    I’ll be scared to do that, honestly! They are the biggest multitaskers that you can see in today’s time. When they wake up, the first thing in the morning is to do some tasks, maybe making up a bed or thinking about the kids, making them ready. Though I support them, the kind of responsibility they own, and it’s not just at home. When I work with my colleagues, they also complete the task in the morning. I see emails coming up at 7 a.m.

    Q-5) What is the most empowering thing any woman has ever said to you?

    Ajay Trehan:
    My wife can figure out within a second if something is troubling without me telling her.

     

    Raviraj Singh Ghai: 

    I recall my grandmom telling me to have faith, be thankful, live in gratitude, dream big, and believe in the power of belief.

     

    Anil Dhar: 

    Chinta mat karo, mai hu na!

    From boardrooms to living rooms, women are turning out to be the driving forces of change, innovation, and progress. Let’s continue to amplify their voices, celebrate their achievements, and strive for a more inclusive and equitable world, not just on International Women’s Day but every day. 

    So here’s to the women who inspire, challenge, and uplift us—may we honour them today and always. 

    Happy International Women’s Day!

    By Shivangi, ago

    Streamlining Customer Onboarding & Security: A Deep Dive into Video KYC 

    In light of recent trends, there’s been a surge in prioritising user identification and verification across various domains, be it employees, gig workers, customers, or third parties. This heightened focus stems from the escalating instances of fraudulent activities, the proliferation of sophisticated tools and the dark web for malicious intents, and the evolving need to provide a seamless onboarding experience in our fast-paced, dynamic world. 

    With KYC procedures taking centre stage, there’s a significant emphasis on ensuring thorough verification, particularly for residents in remote areas, reflecting a commitment to security and compliance.

    Navigating the Regulatory Landscape - Importance of KYC in India's Financial Sector

    KYC procedures are measures regulated entities take to identify and verify their customers before transacting or establishing an account-based relationship. Such identification helps business entities to understand their customers/clients/third parties and their financial dealings, thereby reducing the likelihood of money laundering activities and terrorist financing. 

    In India, the KYC process has been a matter of great discussion among stakeholders – Government, regulators, entities and customers. The financial services industry, being the most highly regulated, needs to perform specific activities to stay on the right side of the law and mitigate the risk of money laundering and terrorist financing – such as client due diligence, maintenance of records, suspicious transaction reporting, etc. IRDAI, RBI and SEBI primarily regulate this industry; hence, the respective regulators develop the policy framework regarding anti-money laundering (AML) and counter-terrorism financing (CFT) to ensure customer security and prevent money laundering.

    To ensure this, obtaining officially valid documents from the individuals as proof of identity and proof of address is crucial. In addition, certain KYC norms need to be followed during the verification process to verify the documents/ information proofs that customers have submitted.

    Video KYC - The Crucial Emerging Trend

    As the world becomes increasingly digital, organisations across industries are adopting new technologies to streamline processes and meet rising onboarding and verification demands. Among these developments, one is Video KYC. With digital transformation, industries like banking, finance, e-commerce, staffing and recruitment, health and pharma are more inclined to enable remote verification and onboarding; Video KYC is emerging as a game-changer in transforming the verification process.

    What is a Video KYC?

    As the name suggests, the Video KYC process is done through a live video call to ensure real-time verification of customers, vendors, suppliers, and other third parties. When the world tackled the COVID-19 crisis, businesses across industries faced various challenges in balancing security and seamless onboarding. 

    Traditional verification is surrounded by multiple challenges associated with complexity, high TAT, and operational costs. This became much more visible when the world tackled the pandemic crisis, and with traditional verification, it was nearly impossible to strike the right balance between security and seamless onboarding. Thus, more organisations are increasingly opting for video KYC to conduct verification at scale, reduce operational costs, and enable contactless onboarding.

    The video KYC  process includes conducting video interactions in real-time and capturing the customer’s data so that the required checks can be performed to ensure compliance with regulatory requirements. The process allows the verifier to capture and compare the individual’s live image with the submitted NID (national identity document), creating a complete identity record.

    Traditional KYC vs. Video KYC

    With technology evolving daily, V-KYC offers several advantages over traditional verification, including enhanced security, customer experience, and faster turnaround time.

    Here is a detailed comparison between Traditional KYC and Video KYC:

    Key Area

    Traditional KYC

    Video KYC

    Process

    Requires physical presence for document verification

    Conducted remotely via video call for verification

    Documentation

    Physical documents required (ID, address proof, etc.)

    Digital documents accepted (scanned or uploaded)

    Time

    May take several days for completion, resulting in low TAT and delays

    Real-time verification ensures faster TAT and quicker onboarding

    Cost

    Higher due to physical setup and staff

    Lower due to remote processes and reduced infrastructure

    Security

    Relies on physical ID verification

    Utilises biometric verification and encryption

    Accessibility

    Limited by location. Inconvenient due to the need for a physical visit

    Accessible from anywhere with an internet connection

    Verification Efficiency

    Relatively slower due to paperwork, manual form-filling, and scheduling

    Faster and more streamlined due to advanced technologies like OCR, liveness detection, face match, etc.

    Compliance

    Compliance with regulations may vary

    Enhanced compliance due to digital audit trails

    Flexibility

    Limited flexibility in terms of scheduling

    More flexibility in scheduling video appointments

    Fraud Prevention

    Limited fraud prevention measures

    Enhanced fraud prevention with biometric verification

    Scalability

    Limited scalability due to physical constraints

    More scalable due to remote access and automation

    Unlocking Efficiency: Video KYC Transforming Customer Verification Processes

    • Enhanced Customer Experience, Reduced Churn Rate: Video KYC allows customers to complete the verification process remotely, eliminating the need to visit a physical location. Documents are accepted digitally and extracted via OCR, reducing the need for physical paperwork and manual form-filling. Also, the process is fast and typically completed within minutes, compared to traditional KYC, which may take several days due to paperwork and scheduling constraints.
    • Goodbye to Low Efficiency & High Cost: Video KYC reduces costs associated with physical infrastructure and staff required for in-person verification. Financial institutions can seamlessly verify customer identities and assess risk profiles in a streamlined and standardised manner while adhering to compliance requirements.
    • Wider customer reach: Video KYC can be accessed from anywhere with an internet connection, making it more inclusive for individuals in remote areas. Also, it becomes much easier for financial institutions to expand their customer base and tap into new markets by reaching individuals without needing access to a physical branch or office.
    • Enhanced Security: Video KYC often incorporates AI/ML and biometric verification, providing a higher level of security than traditional methods reliant on physical IDs. This can help financial institutions detect and prevent fraudulent activities more effectively, reducing the risk of financial losses and reputational damage.
    • Compliance Framework: Robust KYC solutions help meet compliance frameworks and industry standards to avoid penalties or legal issues.

    Some common frauds that can be prevented with Video KYC

    • Identity Theft: With Video KYC, individuals must present their original NID documents while visually verifying through live video, making it significantly harder for imposters to pass off stolen identities, as they cannot replicate the live interactions and physical appearance of the genuine individual.

    • Impersonation: Fraudsters often attempt to impersonate legitimate customers during account opening or transaction processes. Video KYC adds an extra layer of authentication by verifying the customer’s identity in real time.

    • Document Forgery: Video KYC minimises the risk of document forgery by allowing agents to scrutinise the authenticity of documents during the live verification process and detect subtle signs of tampering or falsification that may go unnoticed in static scans.

    • Account Takeover: Video KYC strengthens authentication procedures by visually confirming the identity of users before granting access to sensitive accounts. Thus preventing fraudsters from hijacking accounts through stolen credentials or social engineering tactics safeguarding customer assets and confidential information.

    Video KYC Benefits for Banks, NBFCs, and Telecom Providers

    Various industries can leverage Video KYC to streamline operations and enhance security. Banks and NBFCs benefit from remote identity verification for account opening and transaction processing, ensuring compliance with regulatory requirements while reducing paperwork and improving customer satisfaction. Telecommunication providers can use it for customer registration, ensuring KYC compliance and enhancing data security, leading to a smoother onboarding experience and increased customer loyalty. Insurance companies can integrate Video KYC into policy issuance processes, accelerating underwriting and reducing fraud risks. 

    E-commerce platforms can verify seller and buyer identities, preventing fraudulent activities and fostering trust within their marketplace. Across these sectors, Video KYC facilitates secure transactions, enhances compliance, and improves customer experience while reducing operational costs and mitigating fraud risks.

    Quick Checklist For A Streamlined Video KYC

    • Utilising Advanced, Secure, and Intuitive Technology: Financial entities should adopt a user-friendly Video KYC platform that employs advanced technologies (facial recognition, liveness detection, OCR) and supports various devices and operating systems while ensuring end-to-end encryption to safeguard sensitive customer data.

    • Making Video Calls Safe & Secure: Strong encryption methods should be implemented to ensure secure video interactions, data privacy, and unauthorised access for the overall customer experience.

    • Strengthening Compliance and Risk Management: Integration of video KYC with anti-money laundering (AML) solutions enables the detection and prevention of suspicious transactions and aids in identifying high-risk customers promptly.

    • Consent-Driven Data Collection: Prioritize customer privacy by obtaining explicit consent for collecting and processing personal information. Adherence to relevant data privacy regulations showcases a commitment to safeguarding customer data and fostering trust.

    Selecting the Right Video KYC Solution Provider

    Choosing a reliable and experienced video KYC solution provider is crucial to ensure all the above pointers and accommodate the business’s unique needs and potential growth in the future. Choosing a solution compatible with the customer management systems and easily integrated with the existing onboarding workflows is imperative to ensure a cohesive and efficient process without causing many disruptions or delays.

    At AuthBridge, we offer a robust Video KYC solution that digitises customer onboarding journeys with end-to-end liveness detection, OCR, and geotagging capabilities, adding speed, scale and security to your customer onboarding process. Using AuthBridge’s Video KYC solution for  customer onboarding helps in –  

    • saving operational costs by up to 70%, 
    • reducing KYC turnaround time by up to 90%
    • ensuring an enhanced and secure customer experience
    • assessing suspicious transactions to manage compliance obligations effectively
    • implementing robust data protection measures, including encryption and secure storage of customer data, compliance with GDPR

    Banks, NBFCs, mutual funds, insurance, logistics, telecom companies, mobile wallets and P2P marketplaces can use Video KYC to enhance customer experience and catch identity and financial frauds before onboarding customers.

    Selecting the right solution provider, ensuring compliance with regulations, and integrating the system with existing workflows contribute to a seamless and effective customer verification process. This, in turn, enhances customer satisfaction, reduces operational complexities, and strengthens the business’s overall security and compliance framework.

    To know more about our Video KYC Solution, talk to our solution expert today: https://authbridge.com/staging/contact-us/ 

    By Shivangi, ago

    Product Update: What’s new in iBridge

    Engaging with our clients and partners is always exciting as we get to know their thoughts about our product line and processes. It provides us with the opportunity to get their feedback, learn from their experience and make the required advancements to our solutions to best serve our clientele.

    With that thought, here are some exciting product updates for iBridge to fast-track your candidate verification and improve your recruiter experience.

    Pre-Offer Checks: Verify the Candidates before Offering the Role

    With this feature, the recruiters can conduct pre-offer verification to ensure that the candidate meets the necessary criteria and qualifications for the role before the organization invests more time and resources in the hiring process.

    Some of the pre-offer checks are as follows:

    • Voter ID Verification: The candidate needs to enter their voter ID number or upload the photo of their Voter card on iBridge. AuthBridge’s Voter ID OCR will extract the details and run a verification. You can verify the candidate’s name, father’s name, address, DOB, among other parameters.
    • Driving License Verification: Enter the driving license number of the candidate or upload the photo of the driving license for our driving license API to authenticate the details like name, address, gender, validity of the driving license, etc
    • Aadhaar verification: Enter the Aadhaar number of the candidate,verify their photo, father’s name, DOB, and house number, among others.
    • Passport Verification: Provide the passport number of the candidate and get instantly verified details
    • PAN Verification: The candidate’s PAN number is entered and the verified information is available in real time
    • UAN Verification: Get the names of previous employers when the candidate’s UAN number is provided
    • RC verification: Get details of any vehicle and verify the details of an individual by simply entering the vehicle RC number.

    Let us look at some of the benefits of these checks

    • Instant Results: Upon completing the basic details in the form, OCR-based verification APIs automatically extract information for validation from government and proprietary databases, providing instant results. This streamlines the verification process, prevents the loss of top talent to competitors, and simplifies the selection of qualified candidates.
    • Decreased Hiring Costs: The hiring process incurs significant costs, and investing in candidates later found ineligible can be financially draining for the organisation. Pre-offer checks contribute to reduced hiring costs by swiftly assessing candidates on various parameters.
    • Risk Mitigation: Confirming that candidates meet regulatory requirements for the role helps mitigate legal and compliance risks. Failure to comply with industry-specific regulations can result in legal consequences and financial penalties.

    Instant Employee Background Verification

    No more waiting around to get the background verification report. Now, instantly verify the candidate information and documents the moment they submit the BGV details. 

    Instant checks start as soon as the HR initiates the background verification process for the selected candidates. When candidates submit their details on iBridge, hiring managers can run the necessary checks instantly. Enabling a seamless and faster TAT benefit to the overall process.

    Here is how you can benefit from Instant Checks:

    • Wide Array of Checks: Access over 150 instant checks, allowing comprehensive assessment of candidates within seconds. This broad range includes NID checks, bank account verification, face matching, liveness detection, email verification, and employment verification (via UAN), among others while customizing the BGV journey according to your business needs.

    • Instant Results, Zero Wait Time: Now close checks directly on iBridge as soon as the candidate submits details and uploads the necessary documents. OCR retrieves the information automatically, and embedded APIs promptly verify the results, displaying severity levels to HR. This seamless process enhances the efficiency of candidate onboarding and verification.

    • Improved Visibility: Recruiters and hiring managers gain enhanced visibility and trackability by staying informed about the status and severity levels of each candidate’s journey. Monitoring BGV completion becomes effortless, with the ability to analyse data at your convenience, receive real-time updates, and understand discrepancies based on the type of check conducted.
    authbridge-instant-checks

    These are some key highlights of the latest features and updates introduced in for iBridge. We are confident that you will find these enhancements appealing and seek further information about them. By incorporating one or more of these features in your employee screening operations, you can experience enhanced efficiency and productivity with considerable ease of implementation.

    Stay tuned for additional remarkable features and updates scheduled for upcoming releases. We hope you find this blog worthwhile and look forward to sharing more valuable insights in our next update!



    For more information, contact us at sales@authbridge.com

    By Shivangi, ago

    Reflecting on a Remarkable Year: 2023 in Review

    As we stand at the cusp of a new year, we do not want to miss a moment to reflect on the incredible year that 2023 was. It was a year filled with milestones, new products, and expanding horizons.

    Let’s look back at our achievements and learnings from 2023

    Celebrating Milestones!

    #1 Product Innovation

    AuthBridge has remained at the forefront of technological innovation, and this year has been no exception. Our flagship product, iBRIDGE, underwent significant enhancements to revolutionize the candidate hiring and onboarding experience. The new and improved iBRIDGE boasts an advanced reporting module, end-to-end visibility, a streamlined user interface, and pre-offer checks, among other capabilities. These enhancements underscore our commitment to providing seamless, efficient, secure employee verification and onboarding solutions.

    In addition to iBRIDGE, advancements to OnboardX marked a significant milestone. This platform digitally transforms the end-to-end third-party onboarding and due diligence process, catering to over 50 industries. With ONBOARDX, AuthBridge is empowering organizations to navigate the complexities of third-party onboarding and risk management easily, ensuring compliance and efficiency in a rapidly evolving business landscape.

    Our overarching product improvements reflect a tech-first approach while keeping our customers at the center of everything we do. The result is a suite of solutions that not only meet industry standards but also exceed the expectations of our diverse clientele.

    #2 Setting the Gold Standard: 170+ APIs for Digital Check

    AuthBridge continues to set the gold standard in authentication and onboarding services with our extensive portfolio of digital check APIs. This year, we expanded our offerings to include more than 170 API-based checks. These checks enable rapid and accurate verification, ensuring businesses can make informed decisions within seconds.

    #3 1500+ Strong Family

    A company is only as strong as its team, and AuthBridge became even stronger in 2023. The strategic hiring of the right talent has played a pivotal role in strengthening our mission and vision. Our family expanded to a 1500+ strong squad, embodying growth, boldness, and commitment to excellence. It’s not just numbers; it’s a force driving our success. (want to join the tribe?)

    #4 Brand Revamp

    In line with our commitment to innovation, AuthBridge transformed its brand identity. We proudly launched a new logo representing our evolution and commitment to staying ahead in the authentication and verification space. Our revamped website reflects our dedication to providing our clients and partners with an intuitive and informative online experience.

    #5 Building a Community: 80K+ LinkedIn Followers

    Our journey is not just about our internal achievements but also the connections we build with our community. We were fortunate to have a strong family of 80,000+ followers on LinkedIn, a platform where we share insights, industry trends, and updates. To each of you, our rockstars, thank you for being an integral part of our journey!

    #6 Celebrating 18 Years of Excellence

    2023 marked the 18th anniversary of AuthBridge. This journey is a testament to resilience, growth, and commitment to serve the best daily. Over the years, we have evolved, adapted, and continued to set new standards in the authentication and verification industry. Here’s to more years of innovation and excellence!

    What's stored in 2024?

    As we bid farewell to 2023, we are filled with gratitude and excitement.

    As we step into 2024, AuthBridge is poised to embrace the challenges and opportunities that the evolving landscape of authentication and verification presents. New-age technologies, industry-wise trends, and a rapidly changing digital environment will shape our focus for the upcoming year.

    AuthBridge remains committed to being a trailblazer in the industry, continuously innovating to meet the evolving needs of our clients. We are excited about the possibilities and look forward to another year of setting new benchmarks, delivering exceptional value, and reinforcing our position as a leader in authentication and verification services.

    Thank you for being part of our journey, and here’s to a future marked by innovation, growth, and continued success.

    By Shivangi, ago
    What-is-identity-verification-and-how-is-it-done-blog-image1

    What is identity verification, and how is it done?

    Identity verification is paramount in ensuring risk mitigation and reliability in the long term. Given the rise in fraudulent activities and increasing emphasis on data security, businesses must choose robust identity verification solutions to assess individual/business 360 degree while supporting consent-based data management, access control, and data minimisation, ensuring compliance with stringent data protection policies.


    What are the benefits of identity verification?

    Identity verification is a process to confirm that an individual’s claimed identity matches their identity. The reason why identity verification is conducted is due to the following reasons:

    • Enhanced Security

    Identity verification ensures only authorised individuals can access systems, data, or physical locations. It minimises risks associated with identity theft, account takeovers, and other fraudulent activities, safeguarding individuals and organisations.


    • Compliance and Regulations

    Many industries, such as banking, finance and healthcare, have specific requirements for identity verification to meet Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Robust identity verification solutions enable comprehensive screening of individuals and business partners, ensuring compliance with these regulatory mandates and shielding businesses from potential legal consequences and fines for non-compliance.


    • Data Protection

    In today’s environment, stringent data security policies are a top priority. It is a legal and ethical imperative to select robust identity solutions that align with evolving regulations. Identity verification solutions designed for consent-based data management, access control, data encryption/masking, and data minimisation ensure that only necessary information is verified, reducing the exposure of unnecessary data.


    • Streamless onboarding, Faster TAT

    Identity verification can simplify user onboarding processes and reduce administrative overhead. Biometric, liveness detection, OCR, and verification APIs for different use cases can make end-to-end onboarding more convenient. It is also helpful in offering customisable experiences and services based on user preferences and behaviour.


    • Trust and Reputation

    Users and customers gain a heightened sense of security when they know their identities are being rigorously verified. This fosters trust that their personal information is protected, reducing the risk of data breaches and strengthening an organisation’s reputation.


    While identity verification offers many benefits, it’s essential to balance security and user convenience to avoid creating barriers for legitimate users. Additionally, the level of verification required may vary depending on the specific use case and the associated risks.


    This is where identity verification APIs play a crucial role in verifying different aspects of the individual, be it identity, age, address, criminal records, etc. The primary role of identity verification APIs is to confirm the identity of individuals, providing an extra layer of security and trust for businesses and customers and expediting onboarding and transaction processes in the fast-paced digital world.


    What are the Benefits of Identity Verification APIs?

    Real-time Verification: ID verification API enables near real-time verification of individuals and businesses to prevent impersonation or identity theft. 

    • Faster Onboarding TAT: Identity verification API facilitates fast and accurate identity validation by cross-checking sourced and government databases for a seamless onboarding experience. 
    • High Accuracy: Depending on the quality and the size of the proprietary database, API can verify the information quickly and in a secure environment. 

    What are the Different Types of Identity Verification

    Identity verification can be different based on the entity to be verified. Broadly, there are two ways to conduct identity verification:

    • Individual Identity Verification: ID verification APIs are a fast and accurate way for the verification of the identity of an individual based on their NID documents such as Aadhar card, PAN card, Voter ID card, Driving license and Passport. One of the biggest benefits of the verification API is the ability to verify individuals in bulk rather than doing them individually.
    • Business Verification: Business verification API helps with establishing the identity of a business, such as distributors, vendors, third parties, LLP, and private limited companies. Commonly used business verification documents are GST number, CIN/DIN, and Udyam Aadhaar Verification.


    Types of Individual Identity Verification

    • PAN Card Verification: The Permanent Account Number (PAN) card is one of the most important documents that helps prevent tax evasion and illicit fund transfers by individuals and entities as it links all financial transactions made by a particular individual or entity. The Securities and Exchange Board of India (SEBI) has made it mandatory for investors to provide their PAN details for all business transactions. The PAN card verification process involves matching the card details provided by the user with the database maintained by the Income Tax Department and ensuring that the identity is authentic and not fabricated. PAN verification is crucial for companies to comply with anti-money laundering (AML) regulations and identify suspicious or fraudulent activities. Businesses can leverage PAN Card verification API to fastrack the verification process and ensure whoever they are onboarding or associating their business with is reliable.

    • Aadhaar Card Verification: It is conducted as a part of the KYC to prevent identity fraud and filter out duplicates, fake, and ghost identities. Aadhaar verification is required in various sectors for identity verification, including banking, telecom, government services, e-commerce, logistics, FMCG, etc., when onboarding white-collar or blue-collar employees, third parties, or customers. With Aadhaar Card Verification APIs, businesses can ease their compliance journey by validating the Aadhaar in bulk, eliminating duplicate and fake identities, and ensuring speed and scalability to the onboarding process. 

    Types of Aadhaar Verification APIs

    1. Aadhaar Paperless: Fetch POI and POA data with Aadhaar Virtual ID (VID) Number
    2. Aadhaar Paperless Offline eKYC: Upload Aadhaar Number XML file to fetch e-Aadhaar details easily
    3. Aadhaar Verification via Digilocker: Conduct Aadhaar e-KYC online by fetching e-Adhaar based on Digilocker data
    4. Aadhaar QR Search: Pull Aadhaar POA and POI data using the Aadhaar QR code

    • Voter ID Verification: The Voter ID Card, also known as the Elector’s Photo Identity Card (EPIC), is issued by the Election Commission of India to adult citizens above the age of 18 years. Voter ID often verifies individuals’ identities, ages, and addresses. Voter ID Card Verification API extracts personal information provided in the ID card, such as name, father’s name, address, DoB, and EPIC number. It verifies against the election commissions’ government database. 

    • Address Verification: Address verification helps verify an individual’s claim of living at a particular address. These verifications are particularly needed by companies hiring employees, banks onboarding a new customer, or universities granting scholarships. Address Verification API uses PoA documents such as Voter ID Cards, utility bills (electricity, gas, water, etc.) or rent agreements signed by the landlord to fetch the details and verify against government databases to verify an individual’s identity. 

    • UPI Verification: The Unified Payment Interface (UPI) requires every bank account holder who registers for UPI to receive a unique virtual payment address (VPA). The National Payment Corporation Of India (NPCI) introduced this system to encourage digital payments. The UPI Verification API is used to verify the VPA of the user. Valid UPI ID (or VPA) instantly gives you the bank account holder’s name as registered in the bank. Accessing the updated data allows comparing the identity (KYC) details provided in the application form against the beneficiary name returned from the UPI API to validate the customers.

    • Driving License Verification: Fake or duplicate driving licenses can substantially increase identity fraud, causing an imminent threat to a business’s reputation and financial assets – especially in industries such as shared mobility, delivery and logistics, transportation, and much more. Identifying spurious and falsified driving licenses with the naked eye is difficult. Driving license verification not only helps validate that the individual is authorised to drive on public roads legally but is also used as proof of identity, age, and address in non-driving contexts. It is equivalent to other personal identification documents like Aadhaar cards, passports, PANs, Voter IDs, etc. 

    • Passport Verification: Conducting passport verification is most beneficial for companies conducting business with overseas customers or those partnering with cross-border businesses. Passport verification API uses the OCR technology to extract personal details like name, DoB, address, and the individual’s photo to verify against the government database. Doing this assures the companies that the individual holds a legitimate passport.

    • Bank Account Verification: Bank account verification is done to check the authenticity of the user and account status (active or dormant account) using the bank account number and the IFSC code. Bank Account Verification API uses the penny drop verification method to authenticate the beneficiary. The process calls for a transaction of Rs.1 to the user’s account and verifies the account information in real-time to ensure no transaction failures or reversals and to prevent identity fraud and thefts.


    Types of Business Verification

    Like individual verifications, business verification validates the business identification documents to establish legitimacy.

    • GSTIN Verification: GST is a unique 15-digit identification number assigned to every taxpayer (primarily dealer, supplier or business entity) registered under the GST regime. GST verification API enables KYB (know your business) verification by cross-checking the business’s GST number against the pre-validated database to verify the legitimacy of a business.

    • Udyam Aadhaar Verification: With Udyam Aadhaar verification API, one can validate the enterprise name, type, commencement date, full address & universal account number (UAN). Running this verification check confirms that small or medium business or enterprise is legal and operational via their Udyam Registration, also known as an MSME Registration issued by the Ministry of MSMEs.

    • MCA Verification: The Ministry of Corporate Affairs (MCA) maintains data related to companies/LLPs, easily accessed by regulatory authorities, directors, partners, professionals, companies, LLPs, and the public. MCA verification API validates company ID, company name, type & category, registration number, address, date of incorporation, and director details with just an input of the Company Identification Number (CIN) or Director Identification Number (DIN).

    To explore all checks, click here.


    What is the Process of Identity Verification via API

    Step 1: Request initiation for verification

    Step 2: Sending the request to start the identity verification process

    Step 3: Entering ID proof details relevant to the individual or business

    Step 4: Uploading the documents in real-time

    Step 5: OCR-based data extraction 

    Step 6: Instant verification check via API against various source databases to validate details 

    Step 7: Based on the data received from databases, verification is completed, and the missing data is highlighted


    How Identity Verification is Useful Across Industries

    In the digital era, various industries have embraced identity verification using API integrations to have streamlined processes and improved customer experiences. For instance, the BFSI industry, being a highly regulated sector, needs robust and sophisticated identity verification APIs to streamline customer onboarding and KYC – making services more accessible. In insurance, agent and policyholder verification enables the insurers with risk assessment by extracting, verifying and validating any document/photo at any stage of the policy purchase or underwriting process.

    E-commerce and retail benefit from identity verification to prevent shipping frauds, payment card frauds, account takeovers, and phishing attacks. Whether it is customer verification, seller verification or delivery partner verification, integrating identity verification API goes a long way in the shopping experience, ensuring AML compliance and improving digital identity management for both online and brick-and-mortar stores.

    Real-money gaming platforms have often been the target of identity and financial fraud due to the large volume of transactions. Verification of a player’s PAN, Aadhaar, and address is a must to authenticate the identity, age, and location to adhere to stringent regulations and compliance mandates.

    The travel and hospitality industry relies heavily on person-to-person interaction, trust and safety. Hence, identity verification of guests and employees, encompassing restaurant managers, kitchen staff, vendors, travel agents, contractors, and franchise partners, is indispensable to building a safe ecosystem for everyone. 

    The IT sector relies heavily on API-based verification for vendor onboarding and recruitment agencies to expedite background checks. 


    Conclusion 

    In a rapidly evolving digital landscape, identity verification has become the linchpin across diverse industries, whether BFSI, e-commerce, manufacturing, gaming, or hospitality. It’s the foundation for secure, efficient operations and enhanced customer trust. At AuthBridge, we offer a comprehensive suite of identity verification APIs tailored to different sectors and needs. 

    Get Started Today!

    Connect with our solution experts today at sales@authbridge.com, and let us guide you towards a safer, more streamlined future. Get started today by booking a free consultation, and let us understand your unique requirements in depth.

    By Shivangi, ago
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