December 6, 2019

Background Checks

Hiring Leaders? Here’s how you can Mitigate Risks!

Citing a case from last year, a senior executive for a technology firm was turned down due to his involvement in betting with huge losses on Indian Stocks. The finding was workable only with formal due diligence. Shortlisting for senior positions has always been sensitive & contentious, but its criticality was only realized with rise in senior management frauds. HR folks and recruitment consultants take extra precautions while hiring for leadership positions.

Leaders are the drivers of business success. Responsible for business goal s

By Shivangi, 5 yearsDecember 6, 2019 ago

Background Checks

Reducing ‘Time to Build Trust’-Essence to being Preferred by EMPLOYEES & CUSTOMERS

Contractual staff opportunities are on the rise with flourishing on-demand businesses. Automation has furthered this growth agenda by enabling better service levels and enhanced on-boarding. Customer/Employee experience is a key element in the acquisition process. Be it quick loan disbursements, quick issuance of SIM cards; better, streamlined processes and quicker TAT leads to an enhanced customer experience! In fact, quick, reliable services have become one of the top preference criteria in the customer decision making process today.

Similarly, for the HR fraternity, Employee is the customer. Enhanced On-boarding experience is a key element for the Talent Acquisition function. A major element affecting the experience in this journey is the ‘Time to Build Trust’. Be it your employees or contractual staff, they are our brand ambassadors and impact your reputation in the market. This has a direct bearing on your company’s balance sheet. With flourished hiring, especially in high growth industries like On-Demand sector, time to Building Trust needs to be reduced. Background Verification is the key enabler in establishing trust.

By verifying an individual’s identity, profile and reputation, background verification brings transparency and provides insights into an individual as a person. Advent of technology and increased focus on customer delight has led to the expectation of background screening processes to be quicker, more effective and more accurate. Rather, time to building trust is expected to become instant. Traditionally, building trust has been implicit and not possible in real time. And the results have been surprising! Insider threats and frauds from employees across all levels have been found to rise. 10.29% discrepancy was reported across all cases screened by AuthBridge in FY 2016.

Such incidents could have been addressed with instant verifications. And who’s the game changer? It’s TrustOnDemand. With TrustOnDemand, one can verify the three key ingredients to establish trust on an individual/ business entity – Identity, Profile and Reputation. This is now possible with introduction of Aadhaar, tech-enabled platforms, advanced APIs, sophisticated algorithms, machine learning and concepts of the new world. Automated platforms today ensure you of high quality, quick, accurate background check results to help you bridge the trust deficit and solve your background verification challenges. For example, leveraging Aadhaar Data, the world’s largest biometric database, instant identity checks can be performed on your employees, interviewees, visitors, vendors, delivery boy, driver, maid, employee or any individual.

Similarly, eKYC can be used to manage visitors at offices/home and instant reputation checks can be conducted to reveal any criminal records by searching through courts record databases from across the country. TrustOnDemand infrastructure enables you to make informed decisions on the fly- anytime, anywhere. This improves the turn-around time for hiring by enabling the hiring manager to evaluate the candidate’s credentials quickly while the HR is rest assured of one’s reputation and criminal background. TrustOnDemand ensures a secure workplace/ interacting atmosphere around you while delivering a smooth on-boarding experience. To know more, schedule an appointment with our expert today.

Write to us at communication@authbridge.com.

By admin, 5 yearsDecember 6, 2019 ago

Background Checks

TrustOnDemand™: The Game Changer for Hiring & On-boarding

With the world getting pervasively digital, interactions and collaborations for business purposes and otherwise are on an exponential rise! On-demand services have further transformed the business landscape. In such a complex network, individuals and businesses trust one another blindly! In day to day life, you depend on people you don’t know well to work for you, to drive you around, to offer you services etc.

Traditionally, building trust has been implicit and not possible in real time. And the results have been surprising! Insider threats and frauds from employees across all levels have been found to rise. 10.29% discrepancy was reported across all cases screened by AuthBridge in FY 2016.Similarly, identity theft accounted for 77% of all detected credit frauds in India in 2016. Cases of rape and criminal activities by delivery boys, drivers and others are becoming a daily affair! Such incidents could have been addressed with Instant Identity verifications. Hiring gets delayed and on-boarding experiences see negative impact due to increased response time. Absence of such instant solutions have led to barely 6% of current demand being addressed in the market. Today, with technology and creation of authentic databases, bridging the trust deficit gap is possible!

And who’s the game changer? It’s TrustOnDemand™ .

With TrustOnDemand™ , one can verify the three key ingredients to establish trust on an individual/ business entity Identity, Profile and Reputation. Powered by technology, advanced search algorithms, APIs and distributed authentic databases, TrustOnDemand™ mitigates risks and assures you a safe environment. For example, leveraging Aadhaar Data, the world’s largest biometric database, instant identity checks can be performed on your employees, interviewees, visitors, vendors, delivery boy, driver, maid, employee or any individual.

Ekyc can be used to manage visitors at; offices/home and instant reputation checks can be conducted to reveal any criminal records by searching through courts record databases from across the country. TrustOnDemand™ infrastructure enables you to make informed decisions on the fly- anytime, anywhere. This improves the turn-around time for hiring by enabling the hiring manager evaluate the candidate’s credentials quickly while the HR is rest assured of one’s reputation and criminal background. TrustOnDemand™ ensures a secure workplace/ interacting atmosphere around you while delivering a smooth on-boarding experience.

By Shivangi, 5 yearsDecember 6, 2019 ago

BFSI

The Power of Aadhaar based eKYC

Knowing your customer (KYC) is critical to your business to mitigate external risks and safeguard your company brand and financials. For example, KYC is critical for banks to comply with Anti-Money Laundering reporting standards. KYC is the bank’s way of taking ownership of all funds placed for deposit under their care while establishing rapport with the client. The objective here is to validate the identity, profile, and reputation of an individual or a business entity.

Traditionally, KYC has been a paper-based manual process. Moreover, this offline process is time-consuming and cumbersome. There was no way to establish trust in customers instantly- on the fly. Times have changed! With the world’s largest biometric database, Aadhaar, the business landscape has witnessed a revolution of a kind! Businesses can now build trust in customers in real time, anywhere with Aadhaar-based offline eKYC .

What is eKYC-based Aadhaar Verification?

Electronic know your customer (e-KYC) process, based on an Aadhaar or unique identification number, provides relevant and authentic personal information related to an individual in a matter of seconds. With a person’s Aadhaar number and authentication using biometrics/OTP, businesses can access and verify a person’s name, address, gender, picture, father’s name, DOB, Contact number and email easily.

This is definitely a step change! Tons of customer developments and managed services are solving innumerable onboarding issues using Aadhaar eKYC. Use cases are immense! With e-KYC, you can now open a bank account in a few seconds! A lot of people in rural and sub urban areas do not have the documents for KYC. This will be a good instrument to get new accounts opened, especially in rural and un-banked areas. This initiative is helping banks to expand in rural and unbanked areas, along with expansion in metros. More pilot studies on e-KYC are underway. Based on the results of these innovative methodologies, banks and financial institutions are delivering high empowering services to its customers. In its physical form, the KYC process is completed by banks in 5-7 working days.

Through e-KYC, the time taken is reduced to 3 days and this way, a bank saves the time, money and labor required for the verification process. Adoption of e-KYC is very important by banks, as well as insurance companies. Hence, e-KYC will be a very cost-effective move. With diminishing boundaries and advancements in technology, businesses are increasingly collaborating through digital means in addition to traditional means. This calls for exhaustive Know Your Customer (KYC) solutions to mitigate risks related to bad debt, bad reputation, and legal matters due to a fraudulent customer. You can also try our /checks/aadhaar-paperless-offline-e-kyc/Offline Aadhaar-based eKYC API for easy Aadhaar verifications with encrypted Aadhaar XML.

At AuthBridge, we use tech-enabled platforms and authentic data to assimilate information related to business entities and verify them in real time. We offer both traditional and new-age KYC solutions on the Aadhaar platform, thereby helping you onboard customers easily and quickly while mitigating risks. For more information

write to us at sales@authbridge.com

By admin, 5 yearsDecember 6, 2019 ago

Background Checks

e-KYC- Reducing On-boarding Turn Around Time

The Electronic Know-your-customer (e-KYC) process, based on Aadhaar or Unique Identification Number is transforming operations across businesses- saving time and money while delivering a seamless experience! Using Aadhaar information and biometric/OTP-based authorizations, e-KYC enables businesses with a paperless onboarding process, reducing onboarding time from days to minutes! With more than 98% of the Indian population being enrolled with UIDAI, Aadhaar is the world’s largest biometric database. Using advanced technology, restful APIs and authentic data, e-KYC services can verify and gather identity information of individuals in real-time.

This leads to enhanced operational efficiency. Today, multinationals are using Aadhaar-enabled e-KYC services; for multiple use cases- be it visitor management, streamlining the interview process, improving candidate form filling or the overall onboarding process. For example, more & more banks are relying on e-KYC for their authentication processes and getting rid of mundane, manual processes. Tons of customer developments and managed services are solving innumerable onboarding issues.

With e-KYC, you can open a bank account online in a matter of minutes! Similarly, a lot of people in rural and suburban areas do not have the documents for KYC. The e-KYC process serves as a good medium to acquire new accounts, especially in rural and unbanked areas. In its physical form, the KYC process is completed by banks in 5-7 working days. Through e-KYC, the time taken would be reduced to near instant and this way, a bank can save the time, money and labour required for the verification process. Not only does e-KYC save time and money, but it also improves the quality of data available and standardizes the data at various touchpoints by benchmarking it to the UIDAI database. With diminishing boundaries and advancements in technology, businesses are increasingly collaborating through digital means in addition to traditional means. This calls for exhaustive Know Your Customer (KYC) solutions to mitigate risks related to bad debt, bad reputation and legal matters due to a fraudulent customer.

The usage of tech-enabled platforms and authentic data to assimilate information related to business entities and verify them in real time is essential. There is a need for a good mix of traditional and new-age KYC solutions on the Aadhaar platform to help you, on-board customers, easily and quickly while mitigating risks. To know more, schedule an appointment with our expert today.

Write to us at sales@authbridge.com.

By admin, 5 yearsDecember 6, 2019 ago

Background Checks

New ‘trust’ factor: The impact of Aadhaar in India

One of the undesirable effects of a connected society is the rise in number of Identity theft cases around the world. Thanks to a variety of personal and sensitive information available and accessible online, criminals around the world have a field day committing financial frauds by usurping the identity of ordinary citizens. A record 15.4 million Americans were victims of identity thieves in 2016, according to a study by Javelin Strategy & Research[1]. In India, identity theft accounted for 77% of all financial fraud cases in the first quarter of 2015, according to a report by Experian India[2].

These cases typically involve accessing personal or sensitive data illegally, creating fake documentation, account takeover, and distribution. For victims, the repercussions can be grave and long-lasting – ranging from job or financial loss to litigation. The absence of a tech-enabled surveillance process of the recorded data and poor record keeping has exacerbated the problem, for stealing an identity today is, sadly and surprisingly, a child’s play.

This is where the introduction of Aadhaar for Indian citizens has been truly transformational. A unique identifier for individual citizens, in the form of a 12-digit number, has plugged a big systemic gap towards addressing the rising cases of identity theft. Keeping in account the size of India’s population, a well-designed system like the Aadhaar is an easy and extremely effective way to ascertain the rightful identity of any citizen.

In the month of April, the HRD ministry made Aadhaar compulsory for students to obtain mid-day meal. Within 25 days of implementation, a giant scam was unearthed in the states of Jharkhand, Manipur and Andhra Pradesh, which were earmarking funds under the mid-day meal schemes showing almost 4.4 lakh bogus students in their documents. The three states had been presenting non-existent students on their records to claim false funds from the mid-day meal scheme allocation. In addition to being instrumental in detection of duplicated and false data, Aadhaar has also facilitated a number of rigorous processes like filing tax returns, claiming government assistance, thereby making documentation and identification easier. With over 1.13 billion enrolled members updated on 31 March 2017, Aadhaar is today the world’s largest biometric ID system. As of September 2016, its database, collected the names, addresses and biometric information of more than 105 crore people and offered a unique identity tool to citizens through their fingerprint and iris scan. The biometric ecosystem allows a rapid collection and authentication of the identities.

Use of Aadhaar based KYC also cuts cost per transaction drastically, from around Rs. 1,000 in the conventional manner to a mere Rs. 30-40 with Aadhaar. According to the Government of India, Aadhaar-linked bank accounts are helping save Rs.15, 000 crores a year in LPG subsidy already. The benefits of Aadhaar are not only limited to the government subsidies and schemes, but also extend to the private sector. The disruptive proposition of Aadhaar has enabled private companies to innovatively use it as a tool for identity verification. For example, it has empowered banks to disburse retail loans with more confidence. Instances such as the rape of a young woman by a taxi driver in 2014 have increased the urgency of conducting an authentic and detailed verification check of the individuals hired on the fly.

By using Aadhaar-enabled verification tools linked to an online database, on-demand companies can keep a check on the criminal history of their employees, partners or vendors. Ultimately, background checks help build trust among businesses and individuals- for they not only verify and corroborate claims with regards to identity and profile, but also reputation (ex: criminal history). Aadhaar has truly been a game changer in this respect. Earlier, individuals were verified manually using physical IDs, reference checks, documents issued by the government, and so on, a process that could take hours if not days.

Using Aadhaar-based checks have made this process a matter of seconds!

Please Note: AuthBridge provides instant ID checks, eKYC and multiple instant verification solutions using Aadhaar capabilities. As a registered AUA with UIDAI, AuthBridge has access to authentic data from UIDAI’s Aadhaar database [1]Source:-

Source: NBC News

[2] Source:-

Source: Experian India Report

For more information, write to us at communication@authbridge.com

By admin, 5 yearsDecember 6, 2019 ago

Background Checks

Aadhaar verification is NOT Enough! Things employers need to know

Recently, Aadhaar has seen a lot of attention in a very short span- rightly so, it being the World’s largest biometric database. Multiple articles have reported that employers are increasingly using Aadhaar based identity verification

With such a verification mechanism, a weeklong process can be done in just about 15 minutes, they claim!

Correct! However, this is not completely true.

While Aadhaar verifications are quick, they can only validate the identity of a person. The picture isn’t complete here! While hiring employees, organisations look at a candidate’s identity, profile and reputation. Identity is validated using government issues IDs, profile is evaluated using education, address and employment verifications while reputation is gauged by police verification, criminal record check, web and media searches, credit history checks etc.

Using Aadhaar based checks, one can be thoroughly scanned for genuineness of identity in real-time. With use of advanced APIs, verification is possible in real-time. Not just verification, used Aadhaar enabled services like eKYC enhances the on-boarding experience and all personal information related to an individual gets captured with the employer. This saves time and money and protects employers against identity crises situations.

Experts believe that companies can save 60% of the hiring costs by using the Aadhaar based verification platforms. However, verifications do not end here. Employers need to anyways conduct profile and reputation checks using education verification, employment check, address check, criminal records check and more.

Surely, Aadhaar cannot be used for such purposes. Aadhaar is definitely an enabler here. Using information pulled from Aadhaar based eKYC, i.e., candidate name, address and father’s name, criminal records check can be conducted instantly by searching publically available court records across the country using advanced APIs. The information from Aadhaar also becomes an input in the visitor management system and eSign solutions. Employers need to verify candidates thoroughly post-selection and confirm their existence and experience through a chain of background checks. These checks depend on the employers and job profiles in consideration.

Aadhaar based verification serves as the initial screen for employers. Fake identities can be immediately rejected in real-time. However, profile and reputation checks need to be added further before classifying someone as a good hire or the right fit. Employers may disregard candidates who lie/omit/cheat on their candidature. The right approach to background screening is a holistic background verification program and Aadhaar verification is just the stepping stone, not the complete movie! To know more, schedule an appointment with our expert today.

Write to us at communication@authbridge.com.

By admin, 5 yearsDecember 6, 2019 ago

Background Checks

Background Checks-Powered by Technology & Patent Pending Platform

More than 90 per cent of Fortune 500 companies have a formal policy of screening the backgrounds of their employees as well as their outsourced staff. Delivering trusted, instant Background screening services for companies is the need of the hour. Instant verifications have come alive in the way operations are conducted. State-of-art technology is used for the finest services in background verification to enhance delivery of services. Not only does technology deliver convenience, it offers reduced turnaround time & faster on-boarding to deliver enhanced candidate experience. This also leads to reduced chances of losing the candidate to a competitor!

This is complemented with well-managed, seamless operations processes to ensure quick, accurate results. At AuthBridge, we deliver quick background checks using advanced technology, powered by our patent pending platform- iBridge, as the name suggests, bridges the gap between trust and talent, between facts and information produced. It is the engine which drives the entire verifications process and puts the results together to deliver to the client.

Traditionally, verification process was manual. Teams would work on a case from start to finish, conducting all of the background checks. Then one would keep track of the status of each check for each case. Each case took longer to finish depending on the number of verifications required and the difficulty of the case. Since a lot of this time was spent waiting for responses and conducting follow ups, productivity would widely vary.

Automation was the only way to take things forward!

By connecting verification teams for identity, address, education, employment, criminal and other background checks, BRIDGE is the lifeline for background checks at AuthBridge ! Combining the best of automation, machine learning, text analytics, OCR, NLPs, databases, sophisticated algorithms and more, BRIDGE truly is transforming the future of background screening!

The same has been recognised as a case study titled ‘Innovating HR Operations’ published by the Cornell University. The case study is now taught in their operations curriculum and multiple other schools including ISB, Mohali.

iBridge is now a patent pending platform and powering thousands of background checks daily!

By admin, 5 yearsDecember 6, 2019 ago

iBRIDGE 2.0 – The Next-Gen Background Verification Platform

Background Checks

Hiring Leaders? Here’s how you can Mitigate Risks!

Background Checks

Reducing ‘Time to Build Trust’-Essence to being Preferred by EMPLOYEES & CUSTOMERS

Background Checks

TrustOnDemand™: The Game Changer for Hiring & On-boarding

BFSI

The Power of Aadhaar based eKYC

Background Checks

e-KYC- Reducing On-boarding Turn Around Time

Background Checks

New ‘trust’ factor: The impact of Aadhaar in India

Using Aadhaar-based checks have made this process a matter of seconds!

Background Checks

Aadhaar verification is NOT Enough! Things employers need to know

Background Checks

Background Checks-Powered by Technology & Patent Pending Platform

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December 6, 2019

Using Aadhaar-based checks have made this process a matter of seconds!

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Want to Verify More Tin Numbers?

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Want to Verify More Pan Dob ?

Want to Verify More Aadhar Numbers?

Want to Check More Udyam Registration/Reference Numbers?

Want to Verify More GST Numbers?