Electronic Identity Verification (EIDV) is the process of verifying an individual's identity electronically with underlying 3rd party data sources such as a national passport database or credit bureau. In addition to this, EIDV suppliers also offer services such as address verification, bank account verification, biometric matching (facial recognition), and politically exposed person (PEP) and sanction checks.

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EIDV is most commonly used for businesses looking to comply with their local Anti-Money Laundering (AML) laws, but is also common in age-restricted services such as gaming, tobacco and alcohol sales to ensure the person being dealt with is old enough to use the product.

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EIDV is a great tool for streamlining your customer onboarding with low friction, but there are many vendors in the market and it can get quite confusing as to what you need, don’t need, who is reputable, and what questions you need to ask vendors.

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This is where VJMC Consulting comes in, we are experts in this field and can offer guidance to give you & your Directors peace of mind.

 

Whether you currently have a solution in place or are looking to implement one in the future, we can help with:

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• Implementation of your selected service

• Audit of your selected service

• Suitability of a service

• How to use it efficiently

• Value for money – make sure you only pay for what you need

• Likely compliance to legislation

• Procurement and implementation