Prove is launching the Prove Verified Users solution, a global identity verification solution that gives users peace of mind when interacting on digital marketplaces.
Digital platforms can reassure users that they “are interacting with a verified individual, delivered by a trustworthiness indicator such as a badge or check mark, as well as stop impersonators and scammers from taking over their platforms.”
Ultimately, the Prove Verified Users solution creates “a more secure environment for all users to confidently engage.”
It’s important to understand “the complex environment that digital marketplaces face today and why proper identity verification is a competitive advantage.”
Fraudsters are finding new ways to “manipulate digital marketplaces, ranging from attempts to sell stolen items to targeting victims for online romance scams.”
This threatens the integrity of your platform, where it becomes “difficult to know the true identity of who users are interacting or transacting with.”
Once a user is scammed or loses trust in your platform, they “are unlikely to continue engaging.”
Maintaining a strong reputation hinges on the ability “of digital marketplaces to safeguard customer interactions and provide a secure digital environment.”
A good reputation not only attracts “new customers but also activates existing ones.”
It acts as a competitive advantage in a crowded market, “where consumers are increasingly discerning about the companies they choose to engage with.”
By prioritizing trust and safety elements, marketplaces can “protect users and their reputation, enhance customer engagement, and ultimately drive growth.”
Identity verification plays a critical role in maintaining “a trusted ecosystem for users to interact. However, online platforms need to balance security with the user experience, where adding too many points of verification or inserting time-consuming processes, like traditional document verification, can impact trustworthy users.”
While methods like document verification and liveness checks aim to stop fraudsters, they can also create obstacles “for legitimate users as well, leading to a lack of conversion, frustration, and potential loss of business.”
They can also be easily bypassed by sophisticated scammers “using deepfake videos or images.”
Not all identity verification methods are created equal. Marketplaces must consider adopting smarter, more seamless verification technologies “to complement or supplement traditional verification processes to enhance security without compromising the user experience.”
To maintain vibrant and secure communities, digital marketplaces must “prioritize establishing trust and safety among users.”
This involves delivering trustworthiness indicators, “such as a check mark, to grow a trusted community where users feel reassured that they can safely proceed with transacting on the platform.”
With as little as a phone number, the Prove Verified Users solution can “protect platforms by verifying that users are who they say they are.”
Prove verifies identities with high accuracy by “maintaining a definitive link between a user and their phone number that is informed by 15 years and 30+ billion annual authentication and verification events.”
Companies can achieve several key goals with the Prove Verified Users℠ solution, including:
- Driving loyalty with a trustworthy ecosystem: Take an example of a parent looking for childcare, where thoroughly vetted sitters are paramount for safety and security. Parents need assurance that they are not unknowingly leaving their child in the hands of a stranger with an unverified identity, fake background and no credible history. With verified sitters, parents gain peace of mind that their children are in safe, reliable hands, building a foundation of trust and long-term loyalty.
- Reducing scam opportunities: Common scams involve fraudulent sellers creating seemingly legitimate listings with attractive prices to lure unsuspecting buyers. After the payment is made, the seller either disappears or provides false tracking information, leaving the buyer without their purchase. Worse, the scammer continues to exploit the marketplace by relisting items, targeting more victims while evading detection. By effectively validating users, marketplaces can reduce the risk of scammers continuously exploiting your platform and other victims.
Brands are using the Prove Verified Users solution to solve for seamless identity verification that can increase user confidence and accelerate growth.”