Financial Risk Management

There are several use cases of our Financial Risk Management products:

1) Onboard and verify end users and merchants instantly using our APIs - For a business operating in today’s fast-paced environment, TATs are everything! We’re helping our clients reduce onboarding time by verifying their partners within seconds. We can instantaneously validate, verify, and extract data from over 28 types of official ID documents, thereby, saving time and digitizing our clients’ documentation processes.

2) Verify users for every transaction - How do you guard your business against the risk of impersonation? It’s simple, let IDfy authenticate the identity of your user. Our in-house technology for face recognition and voice recognition can help authenticate the transactions being conducted in your ecosystem. We even have a network of ‘runners’ or feet-on-the-street who can authenticate your users using their biometric devices

3) Collect documents and process loans quicker - Financial institutions need to on-board customers from urban, semi-urban or even rural areas. As customers get more and more scattered, it gets harder for financial companies to conduct their KYC checks. Here’s where IDfy comes into the picture! Our network of ‘runners’ or feet-on-the-street personnel are present across India and receive and fulfill requests through their apps. Documents once collected, can be scanned and sent to our clients instantly through APIs

4) Determine eligibility for loans, insurance, or credit cards - Our database contains millions of anonymized data points about people we have verified. With the power of data analytics, we can estimate an applicant's likely income or fakeness in seconds

Human Resources

Here are some use cases of our products in the HR domain:

1) Efficiently screen, track and on-board your candidates – IDfy provides many solutions so that Talent Acquisition professionals may hire efficiently at a large scale. Our screening APIs help identify fake candidates early or help contextualise CVs to match it to your requirements. Our applicant tracking system is extremely popular and specifically tailored for the Blue-collar segment. It ensures the fast and efficient hiring of hundreds of drivers and delivery boys across India every day.

2) Verify credentials of your candidates – IDfy is a NASSCOM empanelled Background provider and works with some of the largest companies in India to onboard their new employees. Our clients choose to partner with us not only for our technology platform, but also for our superior TATs. Through our portal, our clients can monitor the progress of each application, assign user-based controls, invite multiple candidates for verification through a single-click of a button, and much more. Our portal lets the HR track every step of the verification process across thousands of verifications initiated!

3) Analytics across the Employee Lifecycle – The data collected through Background Verification checks is a useful source of information about the type of people that are being hired. By identifying demographic traits of the top performers, we’re able to tell our clients which candidates are best suited for that role, which universities the company should hire from, and plenty of other insights that help them optimize their hiring process. We are also one of the leading providers of Exit Survey Analytics. When employees leave a company, they might not be completely honest in giving feedback on their reasons for leaving. IDfy conducts Exit surveys at scale in a scientifically proven way, crunches the data with various analytics tools and approaches. Our customers can then use a series of well designed graphs and charts on our platform to hone in on the reasons for departure

Sharing Economy

Sharing economy companies are typically websites that help their users exchange services and assets with each other. IDfy works with some of the biggest names in the Sharing Economy industry around the world. Every day, we verify thousands of drivers, tenants, matrimonial prospects, nurses, teachers etc. to improve trust and make our customers’ websites safer

1) Onboarding - Through our platform, we’re able to verify ID documents, verify educational qualifications and work experience, conduct court checks, etc. that help in identifying if a person can be trusted or not. With the help of the latest state-of-the-art technology, we’re able to help our clients on-board their users in the shortest timeframe possible.

2) Transactions - As peer-to-peer platforms enable unknown parties to conduct transactions or interact with each other, one can never be too sure about the authenticity of the person at the other end. Is the person who is supposed to be driving the vehicle actually driving it? Is someone impersonating an individual on a dating app? IDfy can help authenticate every transaction and make the sharing economy website safer