Application developers must authenticate both the identities of individuals and organizations. Identification procedures, like everything else, have experienced a digital change during the past ten years. This shift is driven by the demand for seamless and safe user experiences.
The identity verification market has grown exponentially in recent years, valued at more than $8 billion in 2021. Current identification trends entail decentralized identity and web 3.0 solutions like standardized electronic ID, behavioral analytics, IoT personalization, Open Data from governments regarding citizens, crime, and IAM (Identity and Access Management) for secure onboarding using technologies like passwordless solutions, including:
- Facial recognition
- Speech recognition
- Fingerprints
- Eye scans and liveness recognition
- Artificial Intelligence (AI) algorithms
For developers to build or modify apps with identification functionalities, they require quality identity verification APIs. This article describes the top 10 Identity APIs. Please continue reading to discover more about these tools and how they might benefit your company.
5 Popular APIs for Identity Verification
An identity verification API allows programmers to include authentication and authorization features in their software. Due to the sheer variety of identity verification APIs in the market today, you may find yourself spoilt for choice. Luckily, we have prepared a list of the top five identification APIs.
- IDInsight
ID Insight is confident in the efficacy of its cutting-edge technique of identification verification. Specifically, the firm is devoted to assisting organizations of all kinds in mitigating online fraud. ID Insight reduces costs while increasing the number of business approvals by combining improved address data and information scoring techniques.
With features like custom match and predictive scoring, the solution outperforms other, more common ID verification products on the market. These handy features are why some of the biggest names in global finance already use ID Insight to verify their customers’ identities.
- Trulioo
When it comes to verifying someone’s identity, Trulioo is one of the best global options available. Incredible as it may seem, the Trulioo service is already being utilized by five billion people and three hundred and thirty million businesses. Trulioo’s simple portal/API makes it easy to comply with all applicable anti-money-laundering and know-your-customer regulations.
Trulioo offers a solution that addresses the problem of online identity verification in a way that is cost-effective for businesses of all sizes. You can show your customers that you’ve done your homework by displaying a Trulioo trust seal on your website.
- Jumio
With its groundbreaking Netverify technology, Jumio has established itself as a leading Identity-as-a-Service provider. With this commercial-grade program, businesses may lessen their exposure to identity theft and related fraud. The Netverify system, powered by AI technology, simplifies the biometrics process to verify the identities of your customers and users.
Find out immediately whether an ID is real or fake with Jumio. It also includes document screening and verification functions built right in. Jumio is the best choice if you need a solution that provides full-circle verification.
- Acuant
Acuant is all about the technology of the next generation. Its trusted identity platform uses AI technology that has been patented to help you give your customers better solutions. This one-of-a-kind platform has many great features, such as biometric face recognition matched with liveness testing. In the identity portfolio, there are also a lot of products that have won awards.
You can use its many features, such as Acuant FaceID for biometrics, Acuant WebID for processing information online, and Acuant AssureID for authentication. Also, all the portfolio solutions can be used across all channels.
- IDNow
IDNow’s Identity-as-a-Service solution is built on one of the most cutting-edge, machine learning-enhanced platforms. Because of the platform’s emphasis on safety and speed, businesses can integrate security into their regular operations with little effort.
Over 7 billion people from 190 countries may have their identities instantly confirmed via the IDNow system. In particular, the company’s patented e-signing solutions and video identification technologies help streamline the onboarding process and increase conversion rates for organizations.
Benefits of APIs for Identity Verification?
- Fast start–up. With tens of thousands of APIs, your onboarding solution can probably interact with APIs and quickly provide additional ID verification capabilities.
- Efficacy. You can quickly finish accounts and spare your consumers lengthy delays with excellent and quality data during onboarding.
- Precision. Using API technology, ID verification partners may cast a broad net for data from various sources, ensuring that you have access to the correct data for your needs.
- Omnichannel. By integrating third-party data to check and pre-populate inputs, account opening may be conducted digitally using simplified forms and updated methods.
- Scalability. Cloud and software-as-a-service deployments ensure that, as your organization expands, you will not be overwhelmed by data requirements. It also enables businesses to continue using their current, familiar systems, minimizing compliance specialists’ learning curve.
The Bottom Line
In a world where security and privacy are the top concerns for most businesses, software that provides peace of mind is a worthy investment. Identify verification software is the technology that enables businesses to safeguard, preserve, and verify the accuracy of user and customer data.
Although every firm working with digital users and customers can benefit from authentication solutions, this technology is vital for the banking, healthcare, and eCommerce sectors. Whether in the credit card processing, banking, or medical industry, a legitimate ID verification solution could be everything you need to comply with the most recent industry standards.
