Identity Verification Definition and Examples

Understanding Identity Verification for e-Signing

Identity verification is a crucial process in the e-signing industry that ensures the person signing a document is who they claim to be. This step is essential to prevent fraud, maintain security, and uphold the legality of electronic transactions. Below, we'll delve into what identity verification entails and provide examples of how it's implemented in e-signing platforms like GoodSign.

What is Identity Verification?

Identity verification involves a series of checks and processes used to confirm the identity of individuals partaking in electronic transactions. This process typically involves the use of various identification methods, including but not limited to:

• Government-Issued IDs: Scanning and validating IDs such as a driver's license or passport.
• Knowledge-Based Authentication (KBA): Answering personal questions that only the user would know.
• Biometric Verification: Utilizing fingerprints, facial recognition, or other biometric data.
• Email and Phone Verification: Confirming ownership of email addresses and phone numbers through codes or links.

Examples of Identity Verification in e-Signing

1. ID Scan and Match: A user is required to upload a government-issued ID. The e-signing platform scans the ID for authenticity and matches it with the information inputted by the user.

2. Two-Factor Authentication (2FA): After entering their credentials, users receive a one-time code via SMS or email, which they must input to proceed with the e-signing process.

3. KBA Questions: Users answer questions related to their personal history, often with information sourced from public and proprietary data.

4. Biometric Checks: Certain e-signing services utilize biometric verification by capturing a selfie and matching it against the photo on the provided ID.

The GoodSign Advantage

GoodSign simplifies the identity verification process by integrating these robust security measures without necessitating expensive subscriptions. Whether you send one document or one thousand, each envelope only costs $1.50 per send, ensuring you only pay for what you use. This makes advanced identity verification accessible to businesses of all sizes without the burden of additional costs for team members or premium features.

By prioritizing security and flexibility, GoodSign ensures that your electronic transactions are not only efficient and cost-effective but also securely authenticated. Start experiencing the benefits of pay-per-use e-signatures today with GoodSign!