The Imperative Shift to Shareable Identity for Accountants.
It’s Time for Accountants to Embrace Shareable Identity Platforms
The handling of customers’ personally identifiable information is undergoing a significant transformation. This is particularly evident in the field of accounting, where traditional methods of sharing and verifying identity information are proving to be increasingly risky and inefficient. The answer? A model shift towards shareable identity platforms.
The Current Dilemma
Despite its usefulness, email has proven to be a precarious tool for the exchange of sensitive information. In 2023 alone, over 50% of reported identity breaches were caused by emailing information to the wrong address.
Various identity verification systems exist; however, each needs the customer to re-share their personal information and once shared they have no idea where it is and who controls it.
The repercussions of this process as we have seen in the last two years are devastating, leading to identity theft or fraud. Accountants, who frequently exchange such information with their clients and other service providers, are particularly vulnerable.
The Solution: Shareable Identity Platforms
Shareable identity platforms, like VerifiMe, provide a strong, secure solution. These platforms enable clients to securely share their verified identity information with their accountants, eliminating the need to send sensitive documents via email. Once the necessary documents are verified, a digital token representing this verified identity is created. This token can then be shared with the accountant and other service providers, who can use it to confirm the client’s identity. This process is not only more secure but also more efficient, saving both the accountant and the client valuable time and effort.
The Benefits for Clients
For clients, the benefits of this approach are extensive. They now have the power to control the sharing of their identity, eliminating the worry of their sensitive information being exposed in an email or circulated without their knowledge. They dictate who has access to their information and can revoke that access at any time. This significantly mitigates the risk of identity theft or fraud. Furthermore, once their identity information is verified, they can effortlessly share it with other service providers, bypassing the need for repeated verification processes. This not only streamlines their access to the services they require but also amplifies their overall customer experience.
The Call to Action
The time has come for accountants to abandon their reliance on email for the exchange of identity information. By embracing shareable identity platforms, they can not only meet their proof of identity requirements but also provide a safer, more efficient service for their clients.
In conclusion, shareable identity platforms are more than just a tool for meeting proof of identity requirements. They’re a value-added solution that enhances security, convenience, and efficiency for all parties involved. It’s an innovation that’s well worth embracing.
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