Answering The Biggest Online Verification Questions

Workable strategies to craft balanced online verification workflows

New businesses often encounter roadblocks when attempting to verify information in today's data-driven marketplace. Many founders find themselves contemplating big, seemingly unanswerable questions that involve the tension between security and the need for growth.
 
There are, however, workable strategies leaders can leverage to craft balanced online verification workflows. These solutions are built to meet current and future data verification demands and requirements.
 

In deciding the best way to improve online verification processes, do any of these questions sound familiar?
 

Scalability is critical for start-ups that want to catalyze short- and long-term success. With a flexible workflow for identity proofing, businesses with limited time, resources and funding can focus their efforts on exactly what will support positive growth.
 
But what does a scalability strategy look like? Well, for starters, it addresses the following:
 

Approaching online verification with scalability in mind lays the groundwork for adaptable workflows and future cost savings.
 

 
Most business leaders and founders have a good idea about the risks that come with utilizing personally identifiable information (PII), which can be defined as anything from an email address to a Social Security Number. They also understand the reward for knowing as much as possible about their audiences: customizable user experiences, lower instances of fraud, and ideally longer term LTV for customers. When it comes to sensitive user data, balancing the risk for the business while still providing a more positive, streamlined experience for users is the challenge.
 
One way to solve this is to find a platform that actually allows you to access only the data you want without requiring you to hold every piece of information from users. Businesses can strategically reduce the types of data they collect from users, but do not lose the confidence or ability to know that they are creating a more secure environment, minimizing their liability. They collect only what they need for actionable intelligence.
 

The marketplace and the forces that propel it are constantly shifting. Organizations across the U.S. and Western Europe confronted this phenomenon with the launch of the European Union's General Data Protection Regulation (GDPR).
 
But when it comes to verification, big tides of regulatory change are not the only catalysts start-ups should look out for. How, for example, can a start-up up verify soft skills when the verification system they have in place is built around document scanning? How does a business adhering to GDPR confidently verify a user’s identity before complying with a Data Subject Access Request, which entitles that user to all of the information a business has stored on that individual?
 
As regulatory requirements in the U.S. and abroad evolve, so too must the methods companies use to adapt and ultimately confirm the legitimacy of the data that helps run their operations.
 
By using these recommendations to answer these critical questions, start-up founders can create and deploy online verification systems capable of growing with their businesses.
 

David Thomas is CEO and Founder at Evident. Visit www.evidentid.com Connect David Thomas