The identity proofing process
Identity proofing is not a new concept and has been used by financial institutions to perform customer due diligence for decades. There is a wide range of software solutions that have largely digitalized the process, ensuring increased security, reliability and efficiency in the identity proofing process. We can break down identity proofing into three main fundamental steps:
Collection of identifying information and evidence from the individual;
Validation of the identity information using reliable, independent source documents, data or information;
Verification that the identity belongs to the customer providing the information.
How do these steps translate into Fractal’s own identity screening process?
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