LibraryblogWhy identity verification (IDV) is a win-win for lenders and borrowers alike

Why identity verification (IDV) is a win-win for lenders and borrowers alike

The market for unsecured loans is in a period of flux, with higher interest rates and the cost of living affecting customers across the world. An uncertain market can increase the risk of fraud, requiring businesses to implement effective processes to keep themselves and their customers safe.

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Chris Hooper
Director of Content at
March 7, 2023
Blog Post
Identity Verification
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Why Veriff

With fresh uncertainty in the unsecured loans market, caused by rising interest rates and the cost of living hampering global customers, the risk of online fraudsters has risen. However, identity verification solutions offer businesses and customers the chance to stay safe throughout disruption.

Fast decisions

A 98% check automation rate gets customers through in about 6 seconds.

Simple experience

Real-time end user feedback and fewer steps gets 95% of users through on the first try.

Document coverage

An unmatched 10K+, and growing, government-issued IDs are covered.

More conversions

Up to 30% more customer conversions with superior accuracy and user experience.

Better fraud detection

Veriff’s data-driven fraud detection is consistent, auditable, and reliably detects fraudulent forms of identification.

Scalability embedded

Veriff’s POA can grow with your company’s needs and keep up with times of increased user demand.

Get more details

Discover more about how IDV is powering business growth and customer acquisition