Many of the original use cases for (NFC-based) identity verification are linked to onboarding or registration like events in the customer journey, such as opening bank accounts, real-estate transactions of obtaining visas. With trusted identity verification becoming widely accepted, we see a shift to using it later in the customer journey as well, exploiting great user experience and security. If your customer understands and appreciates identity verification with ReadID it is simply makes sense to use it for other fraud-sensitive events in the customer journey.
Gartner mentions this as an emerging use case in its Buyer's guide to identity proofing as well: "Credential issuance at enrollment or reissuance (in other words, “identity recovery”) in multifactor authentication environments remains an extremely high-risk event and is typically abused as part of the account takeover process. Elevating trust through identity proofing and gaining high confidence in the identity of the user requesting credentialing or recovery can mitigate this risk."
"Identity recovery in multifactor authentication environments remains an extremely high-risk event and is typically abused as part of the account takeover process" Gartner - Buyers' guide to identity proofing
We see customers now adding new use cases to their services such as app activation for mobile banking. A bank account that is already used and contains money is much more attractive for fraudsters than a freshly opened (empty) bank account. With customers renewing their phones regularly, the customers' identity needs to be re-established on re-activation of the app. This can be done securely with ReadID and chipped identity documents. ING Bank is a nice illustration of this use case.
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Another interesting use case can be found in pension funds. Retired people living abroad need to prove that they are still entitled to their pensions on a regular basis. Given the very nature of their situation - abroad and often not that mobile - remote identity re-verification including "liveness assurance" is an easy way forward. Customer tests show that ReadID is easy to use for elderly people as well.
Interested in more use cases that apply in your situation? Schedule an appointment with one of our experts to see how ReadID can help prevent fraud in your situation.
