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Tech

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Identity verification software is a data-driven way to combat identity theft and fraud. It’s an essential tool for banks, landlords, and other businesses that need to know the true identity of their customers to do business with them. ID verification software can help protect both businesses from financially devastating data breaches and individuals from having their credit scores ruined by fraudulent activity. Here are three reasons why identity verification software is so important for banks and landlords, and why they should be using it.

Identity theft

Identity theft is a serious crime that can happen to anyone. With the rise of identity theft, businesses are taking steps to prevent it from happening. This includes using identity verification software to ensure that the person applying for a loan or renting an apartment is who they say they are. Businesses need to know that their customers are who they say they are for reasons beyond preventing fraud; it’s also important for compliance and legal reasons.

Credit score

A credit score is a number that represents the creditworthiness of an individual. It’s based on information in your credit report and used to determine whether you will be approved for a loan, credit card, or another type of financial credit. It can have a devastating impact on an individual’s credit score, which is why identity verification software is so important. Identity thieves steal personal information and use it to open up new accounts or take over existing ones in your name. If you’re a victim of identity theft, it can take years to resolve the problem and restore your good name.

Tenant screening

Identity verification software can help landlords screen tenants. Tenant screening is a valuable tool for property owners and managers. It’s used to protect the business, employees, and customers of a commercial or residential property. Tenant screening provides information about prospective tenants’ credit history, criminal history, and other personal information that may influence their ability to pay rent on time or act responsibly in the community.

Additional data checks

While this is all well and good, banks and landlords can do even more to confirm your identity. For example, they can check your address history to make sure you are who you say you are. They can also verify employment history or credit history. If they see anything suspicious, they will investigate further before granting access to the account or apartment building. Additionally, banks may request a data point or two from an additional source outside of what’s provided by most government agencies responsible for issuing IDs (like social security numbers).

The risk of being a victim of identity theft is ever-present, and it can be difficult for any business owner or customer service agent to know if someone is lying about who they say they are. The challenge is compounded by the fact that many banks and other financial institutions rely on the human element instead.

Conclusion

The good news is that the way people live and work is changing, as businesses and individuals embrace technology. One example of this paradigm shift is the rise of digital identities—forms that replace or enhance physical documents such as passports. As a result, businesses and customer service agents rely on identity verification software to help them with the tasks of business operations and to provide good customer service.

 

If you are looking to create a winning business formula, outsourcing will play an integral role somewhere along the line; indeed, most businesses simply couldn’t operate without outsourcing. Third-party providers offer the cheapest way to carry out many of the business services that you need and in this short article, we offer a few examples of services you can outsource to 3rd party contractors.

  1. Accounting & bookkeeping – Even the smallest business can make good use of a local accounting provider and if you are on the cloud, the accountant can remotely access the data they need to keep your books up to date. Company accounts are not something you can afford to overlook and your tax returns can be filed on time, ensuring that you are in full compliance.
  2. Human resources – Essentials like payroll services and recruitment can be outsourced to a leading HR agency and we all know that the employees are the most valuable asset of every organisation. In the event of any employee conflicts, your HR partner has a team of labour laws experts, plus they will make sure that you have very clear employment terms and conditions, which helps to avoid conflicts.
  3. Digital marketing – If you want your business to have a strong online presence, you will need the services of a good digital marketing agency, where a team of SEO technicians can work on boosting your Google search ranking to drive organic traffic to your landing page. If you have a dynamic digital marketing plan in place, your business has firm direction and all online activity is closely monitored; let’s not forget social media – the agency can boost your Facebook following and that has to be good for business. They can help you develop an emotional connection with your customers.
  4. IT Services – The managed IT service sector is booming, as they service many companies with cyber-security and VoIP communication services, empowering their clients. Migrating to the cloud offers many benefits and with 24/7 cyber-security, your data is always safe from hackers. The IT support company offers many services, including hardware support, something every office needs.
  5. Logistics – Every e-commerce business has to hook up with a 3PL (third party logistics) provider for effective order fulfilment; they have the resources to guarantee rapid delivery across the globe. If you would like to learn more about 3PL services, search online for a local company and ask them to pay you a visit. Your order fulfilment worries are over and you won’t find a cheaper solution; all you do is deliver your products and packaging to the 3PL warehouse and forward all orders by email. You don’t even have to handle your products when you use a local 3PL company. If you are planning to do business in Vietnam, click here.

The Internet hosts a wealth of information about why outsourcing is a smart way to run a business and when you are ready, Google will put you in touch with a local 3rd party provider.

It delivers information services to give you a more assertive security posture, insulate your enterprise against threats, and reinforce your cyber defences. In addition, cyber security services assist organisations in analysing and managing their cyber risks.

Hackers’ strategies evolve every day, and organisations must keep up. In addition, many cyber security services offer tremendous monetary and non-monetary value to an organisation. Therefore, organisations must be aware of the most up-to-date tactics to defend against growing risks.

Cyber security solutions that your business needs to prevent cyber attacks include

Perimeter Security

The perimeter security solution is the first form of cyber security your company should have. This type of solution acts as a firewall between your network and the Internet. Moreover, these technologies increase the number of solutions and services to maintain security.

When there are many connections, a single piece of malware can infiltrate and spread throughout the network. To combat such threats, you’ll need to set up a perimeter security structure that protects critical data, apps, and services.

Intranet Security

Intranet security solutions are a sort of cyber security servicessolution. Protecting individual devices and PCs against malware infiltrating your local network is essential for cyber security.

Human Security

Many computer users feel that the only dangers they should be concerned about are creative hackers and software attacks. However, human errors such as using weak passwords, connecting to insecure networks, and responding to spam emails account for 23% of all security breaches.

Tips For Increasing Human Security Within Organisations:

Employee Training

Staff should receive thorough security awareness training to protect themselves and your company from various dangers. You can either host training sessions in-house or hire a third party to help you train your personnel.

Teach your staff about the capabilities of each type of malware so that they are aware of the warning signs if their device is infected, as well as the need for a strong password and correct password-setting practices. You should also require your employees to use unique passwords for various applications. Even if a hacker obtains a password, they will not be able to access all of the programs on your network.

Security Testing

Conduct security testing to confirm that your staff have received all of your required information. Security testing is a great way to reinforce the security procedures you want your personnel to follow. According to some research, security testing has helped certain businesses lower their sensitivity to threats by 20%.

What is Incident Response (IR), and why does your business need one?

Even the most sophisticated security infrastructure will not be able to prevent all invasions or harmful activities. However, you must be prepared to respond effectively if a security event occurs. It all comes down to how quickly your firm recognises, analyses, and responds to an occurrence.

It’s never been more critical to keep your network stable, reliable, and secure than it is now.

Computers, tablets, phones, and other devices that manage all of the demands from databases, email clients, programs, and other sources can cause issues and areas of vulnerability. It’s critical to have confidence that your company’s IT infrastructure is secure and monitored around the clock.

Your company cannot protect itself against data breach campaigns without cyber security services, making it an easy target for thieves.

Many businesses are forced to follow compliance rules, requiring extra degrees of data security to avoid catastrophic data loss and hefty fines.