There are a variety of reasons why organisations need to know who they are interacting with. Some of these reasons are dictated by legislative compliance; called KYC (Know Your Customer) such as 3rd Money Laundering Directive, Gambling Act, age restricted goods and services. Financial Services Act etc...
Other organisations want to confirm the identity of an individual so that they can protect themselves from fraud and being the victim of identity theft or delivery fraud. KYE (Know Your Employee) background screening due diligence is also becoming business critical. Organisations need to verify that the individuals they employ are who they say they are and that they are entitled to work and have the correct identity attributes i.e. age, qualifications, criminal history etc...
Other reasons for needing an ID verification solution centre around security and the need for an instant, accurate electronic authentication.
In this age of accountability, It is not just enough to carry out the identity verification checks, organisations have to keep an auditable log of what information was checked, when the check was done, by whom and the results of the verification. The iid solution will automatically hold the audit trail that can be queried at any time in the future.
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