Some type of identity verification is legally required in case you want to register a business and this happens in most economies. It is known to all that the COVID-19 crisis complicated traditional ID verification since 'in-person interactions' were eliminated or restricted. The result of it was that there has been an acceleration of digitalization needs in the field of business incorporation so as to allow a continuity of business creation and avoid 'in-person contact'. In addition, the health crisis speeded up the provision of electronic services for business incorporation in various economies. With time, finding new ways of carrying out ID checks like introducing digital IDs has become a really important feature in this field. We can not forget to mention that beyond the needs imposed by the current health crisis, establishing verification of digital IDs in business start-ups is key to fighting identity fraud, enhancing transparency and promoting secure online interactions in an increasingly digitized world.

We can not ignore the fact that in the past few years, technology has revolutionized the process of ID verification in ways that have benefitted business start-ups. In addition, a lot of economies have introduced digital ID verification systems that have proven to be highly efficient and secure when incorporating a business. Dissimilar to a paper-based ID, a digital ID can be authenticated remotely over digital channels and much faster. Above all, it guarantees greater efficiency and security in the process of business registration. Moreover, a decentralized approach has the potential to allow everyone in the world to own and control their own legal identity. The best part is that there won’t be a need to share all of your data with different providers. While getting access to more people, businesses benefit from streamlined and compliant security.

It is good to see that businesses are waking up to the strategic value of identity. Therefore, it is no longer seen as just a tick box or compliance issue. Also, secure decentralized identity lends itself to multiple business use cases, which includes purchases, transactions and user onboarding, among others. It is safe to say that identity is the key to access and services the digital economy. Undoubtedly, the concept of ID Verification will be key to the future of identity in 2025 and beyond.

Technology in the past years, has revolutionized the process of ID verification in ways that have benefitted business start-ups. A lot of economies have introduced digital ID verification systems that have proven to be highly efficient and secure when incorporating a business. In case an organization gets their identity verification right, it leads to more efficiency, revenue and transformational benefits.

Group Futurista, a Global Events Company is glad to present to you the opportunity to learn more about ID Verification and the benefits it can entail for your business by joining the 'Future of ID verification for Businesses' virtual summit with revolutionary keynotes, case studies, and an amazing selection of industry-leading speakers who will come together to share their words of wisdom.

Register Now to secure your Digital Pass