An electronic identity is an electronic card or device with a unique identity number issued by either a government agency or some banks.LoginRadius supports all the major industry federated SSO methods. Hence, you can integrate eID authentication with LoginRadius using some third application like Criipto, which supports the industry-standard SSO methods.
E-commerce company is rising day by day as people traveling to visit or conduct businesses in person save time and costs. Through building accounts using email or phone authentication, more individuals are conducting business online. This has created a challenge for everyone to recognize the individuals we say online. To cheat or defraud someone else, online hackers have used false identities. Hence, Electronic Identity ( eID) provides a way for businesses to verify a person's identity online and reduce the chances of Identity Fraud.
What is an electronic identity? Electronic identification is an electronic card or system provided by either a government agency or certain banks with a unique identity number. A customer has to go and show legitimate identification documents to the government agency or some banks. After verification of the paper, the user is given an Electronic Identification. Danish NemID, Swedish BankID, and Dutch DigiD are examples of e-ID. Most service providers such as financial institutions and insurance firms provide services online and are recognizing an opportunity in implementing eID due to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
To authenticate customers online through various channels and services, eIDs are used. EIDs can allow customers to sign documents electronically, and businesses may trust the signature because the government or banks issue the electronic identification on the basis of physical identity documents. For customers, this is fast, convenient and safe as they are saved from completing registration forms for multiple services. Hence, this increases the conversion for the businesses.
Read on to this blog to learn more about how you can use LoginRadius SSO to integrate your electronic identity authentication. https://www.loginradius.com/blog/async/electronic-identity-integration/
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