Identity proofing, or identity verification, refers to the process of gathering data and analyzing signals to confirm an individual’s identity and assess the risk of conducting a transaction with them.
Many individuals have extensive digital trails, making it easy to verify their identities with a high level of confidence. But think about younger individuals who are newer to the digital economy — or individuals with limited financial resources or Internet access. Their digital trails might be scarce. In such cases, agencies often end up conducting lengthy manual reviews, or even just declining the transactions entirely.
To assess the effectiveness of your identity proofing system, consider three core metrics.
- First, time to approval. What is the time lag between when an individual first arrives at a web site and when they can access the digital service?
- Second is fraud capture. Do you have visibility into the activities of nation-states or criminal organizations that are stealing identities to access benefits and services?
- And third, manual review. What percentage of identity verifications cannot be handled through an automated process?
This video, Automated Identity Proofing Takes a Bite out of Waste, Fraud and Abuse, offers more tips to improve your agency’s identity proofing system and reduce the risk of fraud, while also improving your users’ experience.
