Statfin | Solutions | Contact Point Verification

CONTACT POINT VERIFICATION (CPV)

Contact Point Verification screens the credibility of a person’s most important details through a stringent background check to validate the information provided.

About CPV

What is Contact Point Verification (CPV)?

CPV is the process of mitigating the risk by removing invalid applicants in the initial stage and allowing only verified users to access a business’s services.

Invalid applicants often provide fabricated or falsified documents, unauthorized contact details and addresses, or may be blacklisted for fraud, forgery and crime. CPV identifies these risks and addresses them immediately by halting them from moving to the next stages during the onboarding process.

Why is Contact Point Verification Important?

Fraud Prevention: CPV helps businesses prevent fraudulent activities by verifying an individual’s or entity’s credentials before granting access.
Risk Mitigation: It identifies and eliminates potential risks early, ensuring only legitimate users proceed in the onboarding process.
Industry Adoption: Many industries integrate CPV into their Background Verification Process to enhance security and compliance.
Secure Onboarding: CPV strengthens the onboarding process by filtering out unauthorized applicants seeking illegal access to services.

Key Features

AI-driven Solutions

The use of AI to detect inconsistencies and find irregular patterns or any fabrication in provided data, documents or IDs.

Paperless Verification

With our completely digitized platform, the hefty and hassling process of providing countless paper documents is unnecessary.

Clear Reports

Our reports reflect a detailed analysis of the verification done and the results that have been recorded.

Safer Screening and Monitoring

Our APIs are built to perform safer screening and monitoring processes, safeguarding the data, avoiding mishandling and unauthorized access.

Accessbility

CPV ensures seamless accessibility by enabling businesses to verify identities and credentials quickly and securely, anytime and anywhere.

Our Process

Data Collection

Categorization & Segregation

Digital Verification

Automated Accuracy

Secure API Validation

Data Collection

Basic information is gathered during CPV for verification.

Categorization & Segregation

Collected data is organized for individual background checks.

Digital Verification

CPV is a fully digitized process that verifies details against authorized databases.

Automated Accuracy

Workflow automation eliminates errors and discrepancies.

Secure API Validation

Our APIs validate data securely, ensuring compliance and trust.

F.A.Qs

What is Contact Point Verification?

Why is CPV important for a Business?

What verifications are done under CPV?

How does CPV ensure trust and compliance with business standards?

Can CPV be digitized without the necessity of field verification or paper documentation?

What is Contact Point Verification?

Contact Point Verification is the process of verifying basic details like name, contact and address to clear the initial stage of the onboarding process. The digital presence of a user is verified through provided contact points like name, government IDs, location and email IDs to assess their trueness and accuracy. Today, many industries have CPV as a part of their BGV to provide their customers with seamless services.

What is Contact Point Verification?

Why is CPV important for a Business?

CPV is important for a business to prevent fraud and risk activities that might have been carried out by an individual or a concern to gain access to their services. The gain could be an employment offer, business partnership or access to their services illegally. Many industries have CPV as part of their Background Verification Process to strengthen their onboarding process and eliminate potential risks that might harm their businesses during the initial stage.

What verifications are done under CPV?

Identity and Contact Verification (Mobile and Landline Verification, Document Collection and Validation).
Address Verification (Residential Address Check, Business/Office Address Verification, Site Visit).
Employment Verification (Employment Tenure, Work Experience, Remuneration, Rehire Eligibility, Reason for Exit, Document Validation).
Business and Vendor Verification (Business Existence Check, Supplier/Vendor Due Diligence).

How does CPV ensure trust and compliance with business standards?

CPV is important to validate whether precise information has been furnished by the user. Any inaccuracies or void information can lead to weaker connections for a business that can affect its services and operations. Hence, it is mandatory to verify the information for onboarding purposes so that trust and compliance are maintained with business standards.

Can CPV be digitized without the necessity of field verification or paper documentation?

Yes, CPV can be digitized and automated with the use of Technology and AI without the need for Field Verification or paper documentation. However, in cases of any requirement for a groundwork report or physical verification, it can also be done to clear the case.