Best identity verification software (2024)
Identity verification solutions play a key role in the digital world. They allow businesses to confirm that clients are who they claim to be, thereby preventing fraud. They also make it easy for companies to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
There are several identity verification software available today from different developers, each claiming to be superior. We put these claims to the test in this article to find the 5 best ID verification software providers. We’ll explore their features, performance, and benefits. Continue reading to discover the best identity verification software in 2024.
Top 5 identity verification software providers - shortlist
- iDenfy: overall best identity verification software in 2024
- SEON: swift identity and transaction verification service
- ID.me: ID verification service with robust security features
- Onfido: user-friendly identity verification software
- Veriff: AI-powered identity verification solution
What to consider when choosing identity verification solutions?
Choosing the right identity verification service for your needs can be difficult, as so many options are available. Here’s a list of the most important features to look out for when selecting identity verification software:
1. Document verification
One of the first things you must consider is what types of IDs the software accepts and how it verifies their authenticity. This may seem like a no-brainer for identity verification software, but so many types of this software are available today.
Digital identity verification involves collecting and verifying users' personal information online. The software compares clients' IDs against a verified data set. Most identification documents, such as passports and driver’s licenses, have a Machine-Readable Zone (MRZ) code that ID verification software can scan to verify that the document is authentic.
2. Biometric authentication
Many of the best ID verification solutions offer biometric authentication, which involves using selfies or fingerprints to verify a person’s identity. This secure and unique authentication method protects against deepfakes and other spoofing attempts.
3. Data verification
Data verification involves cross-referencing and verifying the authenticity of consumer details such as names, addresses, contact numbers, and email addresses. It lets you confirm that your client's information is accurate and reliable.
More precisely, address verification ensures that an address is valid and matches existing postal records. Email validation verifies that an email address exists and checks whether it’s temporary or disposable. Phone number verification validates mobile and landline numbers by cross-referencing them with telecom databases. Lastly, name verification confirms the legitimacy, spelling, and format of names using trusted databases.
4. Compliance
Identity verification software must also adhere to legal regulations, such as KYC, AML, GDPR (General Data Protection Regulation), etc. This ensures that the software meets the required safety and privacy standards and that your company doesn’t risk fines and other consequences for using it. Choosing an ID verification service that is KYC-compliant also means you don’t need to get a separate KYC software.
5. User experience
It’s essential to consider the user experience of the identity verification software you choose. We recommend choosing software with an intuitive interface. Using the software shouldn’t require any tech knowledge, so it’s accessible to every user. In other words, users won’t need to navigate complex procedures to verify their identity.
6. Data security and fraud prevention
It’s essential to choose identity verification providers that offer robust security, including encryption and data anonymization. This shields sensitive information and protects against spoofing attacks and other advanced fraud techniques.
Many identity verification software now implement machine learning and AI algorithms to detect suspicious activity. This ensures you spot any abnormal activity that a human eye could miss.
7. Scalability and performance
The identity verification software you choose must be able to handle increasing verification demands as your business grows. In addition, it’s important to get software that will let you customize workflows and be easily integrated into existing systems via APIs or SDKs.
8. Cost and pricing model
Consider your budget and the pricing model when choosing an identity verification solution. The three most common pricing models are transactional, flat-rate licensing, and pay-as-you-go.
In the transactional model, each interaction with the service (such as verifying a passport or a face) is considered a single transaction, and you pay once the process is complete. With the flat-rate model, however, you pay a round fee for a certain number of users; this is great if you have a limited pool of users. The pay-as-you-go model allows you to pay according to your needs, making it a perfect choice if the number of clients or transactions changes often.
9. Customer support
It’s crucial to select an ID verification service with a responsive customer support team that can address any issues or queries. Check out the available customer service channels and read reviews from other users to gauge the reliability of each provider’s customer service team.
The best identity verification software providers – our detailed list
We assessed different providers to find the best identity verification services in 2024. Below, we’ll highlight the features, perks, pros, and cons of our top ID verification software to help you make the right choice. Let’s begin!
1. iDenfy: overall best identity verification software in 2024
| Best for: | Compliance, identity verification, identity management |
| Services: | KYC, AML, compliance tracking, risk management, document management, monitoring, audit management |
With AI integration and other unique features, iDenfy stands out at the top of our list. This software makes identity verification effortless.
Accuracy and reliability: iDenfy is one of the most accurate and reliable identity verification software on the market. It double-checks identity verifications to ensure accuracy. The company claims an accuracy rate of 99.99% with its AI-assisted identity verification service.
Coverage and compliance: iDenfy gets data from 3,500+ active government-issued documents for identity verification. It automatically recognizes, verifies, and extracts information from thousands of identity documents across 200 countries and territories. iDenfy can cross-check passports, ID cards, driving licenses, and residence permits following GDPR, CCPA, and all other necessary regulations.
Ease of integration: iDenfy is one of the most straightforward identity verification software, and you wouldn’t have any issues integrating it into your workflow.
User experience: Thanks to iDenfy’s automated identity verifications and seamless interface, the software delivers a fantastic user experience.
Security and fraud prevention: iDenfy offers various services, such as document and identity verification, KYC, AML, real-time screening and monitoring, and more. It is highly secure and effective at preventing fraud.
Scalability and performance: iDenfy has a scalable model; it allows you to have as many users as you want and performs checks and verifications in around 0.02 seconds.
Cost and pricing model: With iDenfy, you pay per approved verification, so it’s quite affordable and suitable for small and large businesses. iDenfy has a free demo that you can try to see if it suits your business.
Customer support: If you have a question or encounter an issue with iDenfy, you can contact the support team via 24/7 live chat or submit a ticket via email.
Read our comprehensive iDenfy review to learn more about this service.
2. SEON: swift ID verification and fraud prevention solution
| Best for: | Financial fraud detection, financial risk management, background check |
| Services: | AML, KYC, monitoring user activity In real-time, AI-driven insights |
SEON is an all-in-one platform that offers numerous services, including identity verification and transaction monitoring for fraud.
Accuracy and reliability: SEON has one of the most reliable identity verification software today. The company claims its software can reduce fraud attempts by up to 90%.
Coverage and compliance: SEON collects potential hits from global sanctions, PEP, crime, and watchlists worldwide. This software complies with numerous regulations, such as AML, KYC, and GDPR.
Ease of integration: Integrating the SEON software is effortless. You can integrate it directly with SEON’s APIs or through the AWS Marketplace.
User experience: SEON serves over 5,000 businesses worldwide, and over 90% agree that this software is straightforward. You can even customize the screening processes according to your needs.
Security and fraud prevention: SEON claims to be one of the safest identity verification solutions today, thanks to its security features and significant fraud prevention rate.
Scalability and performance: SEON enables you to grow your business without limitations. It’s suitable for small, medium, and large companies.
Cost and pricing model: SEON has free and premium versions. The free version is for two users only, while the premium version, starting at $599/month, allows you to authenticate 10 or an unlimited number of users.
Customer support: SEON offers 24/7 live chat support and a ticketing system for in-depth assistance.
3. ID.me: identity verification service with robust security features
| Best for: | Verifying your identity across multiple websites |
| Services: | Community verification, document verification, identity verification, fraud detection |
ID.me is the best identity verification software for government agencies, healthcare, financial services, and e-commerce companies.
Accuracy and reliability: ID.me doesn’t provide a specific accuracy percentage. However, it claims to have a high level of accuracy and reliability.
Coverage and compliance: This identity verification solution is compliant with NIST 800-63-3. It uses IAL2/AAL2 identity proofing and authentication standards to comply with federal and state-level requirements. In addition, ID.me partners with 30 states, 10 federal agencies, and over 500 name-brand retailers.
Ease of integration: You can easily integrate ID.me for identity verification using APIs and SDK.
User experience: ID.me allows users to verify their identity on your site in less than 60 seconds, and the software is very user-friendly.
Security and fraud prevention: ID.me prevents fraud and deepfakes or spoofing through its verification practices and multi-factor authentication.
Scalability and performance: This software is highly scalable; the number of users who can use it to verify their identities online is unlimited.
Cost and pricing model: ID.me doesn’t reveal its pricing model or prices. You need to contact a sales agent for information about its prices and pricing model.
Customer support: ID.me provides customer support via live chat and email. You can also browse through its knowledge base for answers to common questions.
4. Onfido: user-friendly identity verification software
| Best for: | Identity verification, KYC, risk management |
| Services: | Document verification, biometric verification, data verification, fraud detection, Onfido Studio, Atlas™ AI, Smart Capture SDK |
Onfido’s Real Identity Platform supports identity verifications with no-code workflows and AI-driven analysis. It offers a range of features to help companies comply with regulations and combat fraud.
Accuracy and reliability: Onfido might not have the best accuracy rate on the market, but it reduces fraud by over 54% and uses AES-256 encryption for security.
Coverage and compliance: With Onfido, you can verify identities in over 195 countries worldwide. This software is SOC 2 Type II and ISO 27001 compliant.
Ease of integration: About 70% of Onfido users say using the Smart Capture SDK is effortless. It’s very flexible, easy to integrate, and offers top-notch performance.
User experience: Onfido makes the identity verification process accessible with its user-friendly software.
Security and fraud prevention: Onfido has numerous security features and employs different verification methods to combat fraud.
Scalability and performance: This software performs excellently, and you can use this identity verification software as your business grows.
Cost and pricing model: Onfido’s prices are not revealed on its official website. However, you can try it out for free before making a final decision.
Customer support: You can contact an Onfido agent by submitting a ticket. The company also has a knowledge base containing useful information.
5. Veriff: AI-powered identity verification solution
| Best for: | Identity verification in finance, gaming, and mobility services |
| Services: | Identity and document verification, proof of address, database verification checks, age validation, KYC onboarding, biometric authentication, AML screening, age estimation, fraud protection, fraud intelligence |
Using Veriff to verify your clients’ identities is as easy as it gets. This versatile service has a lot to offer.
Accuracy and reliability: Veriff uses numerous verification techniques to ensure a high accuracy rate. Its security features also make it highly trustworthy and reliable.
Coverage and compliance: Veriff supports 11,500+ document specimens from over 230 countries and territories. This service complies with regulations, like ISO/IEC 27001:2022 certification.
Ease of integration: Veriff supports straightforward integration, ensuring a smooth and fraud-free journey.
User experience: Due to its intuitive interface and AI-driven processes, Veriff offers a top-notch user experience, fast checking times, and high accuracy rates.
Security and fraud prevention: Veriff uses an AI algorithm to monitor and detect fraudulent activities in real-time, keeping your client’s data safe.
Scalability and performance: Veriff is suitable for businesses of all sizes. It supports your company’s growth.
Cost and pricing model: Veriff charges per user. You can get the initial plan for $0.80 per verification or try out the 15-day free trial.
Customer support: You can contact Veriff’s support staff by submitting a support ticket on its site.
What Is identity verification software?
Identity verification, or identity authentication, is a way to confirm someone’s identity. The process involves checking documents like passports or driver’s licenses to verify that the person is real and comparing live photos with those on the documents.
Identity verification software helps businesses to prevent fraud, spoofing, or deepfakes and protect personal data. Businesses need identity verification software to:
- Verify employees before granting them access to sensitive data (to prevent breaches).
- Verify customers before onboarding (to prevent fraud and ensure compliance with KYC/AML).
Identity verification software enables remote identity validation, eliminating the need for in-person verification or sending physical documents. There are many more benefits to this software, including:
- Ensuring security and compliance with data privacy regulations.
- Speeding up the verification process and optimizing security resources.
- Enhancing customer acquisition and retention by making the process user-friendly and demonstrating a commitment to data security.
Conclusion
If you’re running a business and want to bolster the safety of your systems, consider using identity verification software. It allows you to confirm that a user is who they claim to be and prevent fraudulent activities.
Based on our tests, iDenfy is the best identity verification service available today. It has numerous features and is compliant with all the necessary regulations. With an accuracy rate of 99.99%, this software will significantly reduce fraudulent activities. Although there’s no free version of iDenfy, it will save you a lot of cash.
FAQ
What is identity verification?
Identity verification allows businesses to confirm that a user is who they claim to be. ID verification solutions cross-check a person’s ID to eliminate the possibility of fraud.
Why is identity verification important?
Identity verification is essential to reduce fraud and deepfakes. In other words, it’s essential to keep your data and your users’ personal information safe at all times.
How much does identity verification software cost?
The cost of identity verification software depends on the provider and the pricing model.
How does identity verification software work?
Identity verification software captures data points from a user’s ID, such as their name, address, date of birth, and government-issued identification documents. It verifies the data by checking it against various databases and sources.
Your email address will not be published. Required fields are markedmarked