Veriff Alternatives & Competitors

As the world’s economy becomes increasingly digital, companies operating online need to increase their ability to verify identities, both to mitigate fraud and adhere to legal mandates.

Veriff is an IDV solution for age verification, customer identity insights, driver validation, and new account onboarding. The software suite employs a diversity of methods to develop maximum confidence that the submitted documents are valid and correct. There are, however, other offerings covering similar needs available on the market.

This article will discuss how to choose an IDV provider that is the best match for your use cases, vertical, and budget, so your organization can focus more resources on goals beyond age verification and onboarding validation. 

Disclaimer: Everything you’ll read in this article was gleaned from online research, including user reviews. We did not have time to manually test every tool. This article was last updated in Q4 2022. Please feel free to contact us to request an update/correction. Images have been sourced from review sites.

Best Veriff Alternatives

What Does Veriff Offer?

Estonian identity verification startup Veriff was founded in 2015 by Kaarel Kotkas, when he was just 20 years old. He began his journey to becoming an ID verification expert by first altering his own, in order to purchase biodegradable rope off of eBay to use at the farm where he grew up. His experience there spun into working on various IT projects, all the while knowing a gap in the IDV market clearly existed. 

Veriff focused first on helping small businesses that needed ID security that couldn’t be beaten. Now, the company focuses on enterprise-level businesses that need automated software to help onboard volumes of new customers at a time, still while keeping fraudsters with falsified IDs out of the system. 

To achieve this, Veriff offers:

• a software applet for real-time verification of faces, ID docs, and alternative identifying documents like bills
• automated matching of submitted IDs to Social Security Numbers
• AML and KYC screening
• a biometric authentication tool to replace one-time passwords and knowledge-based authentication

Veriff uses proprietary software to guide a user through the screening process. This includes a live ID or face or document submission, rather than a submitted photo. During this process, the AI determines the validity of the ID or realness of the face, all while looking for signs of forgery or other foul play. 

The company intends to help businesses automate these processes, particularly for use cases like age verification, new user onboarding, driver validation, and customer identity and access management – for cases like users resetting their credentials, or when you need an extra security touchpoint at a high-value transaction.

Veriff offers its services through a per-verification model, with a minimum monthly spend. Three different price tiers, with the highest tier offering more data storage and QoL features. 

Notably, the company offers its products with support for over 45 languages and dialects.

Why Look for a Veriff Alternative?

Veriff is an easily-deployable tool to check for user validity. Its usage and access are streamlined to cut down on friction wherever possible while maintaining high security. It is not, however, as comprehensive an IDV provider as some others, perhaps, depending on one’s industry and needs.

For example, Veriff markets itself partially as a replacement for other security protocols like one-time passwords and KBA, but some businesses may still want to offer several options, and want them all to play nicely together. 

As well as this, Veriff’s product screens against AML and KYC-compliant watchlists but performs real-time checks on IDs and faces to make sure the person is who they claim to be. The software does not, in other words, access an existing database of confirmed IDs in addition, as some products do. While both methods have potential security risks, some company sizes may prefer to scale with one or the other.

Six Veriff Alternatives

Depending on the needs of your organization, Veriff may not be the solution best suited for your risk appetite or growth needs. 

Here are some alternatives to Veriff which may better address your IDV and fraud prevention woes.

SEON

SEON focuses on running digital footprint analysis and combining the results to verify the intentions and identity of a user without introducing any friction. The highly granular software also passively develops a profile of the customer, which can be scrutinized manually or used to enable automation.

This passive profile is primarily based on:

• Email and phone data enrichment: Primary data points such as an email address or phone number are enriched with information from 50+ sources in real-time to provide a great deal of confidence in knowing who customers really are.
• Device fingerprinting: Like some offerings in the IDV field, SEON passively gathers hardware and software data, allowing you to differentiate between fraudsters and good users.
• IP analysis: Provides confidence against fraudsters with stolen personal information based on geolocation and IP reputation data.
• Velocity checks: The hundreds of data points gathered by the system are constantly compared with other users as well as within the dimension of time to catch attempts at multi-accounting and other fraud.
• AML checks: Where needed, SEON’s AML API checks a person’s name against sanctions lists, PEP lists, watchlists and more blacklists.

The SEON platform feeds these and many other data points through an AI-powered risk-based decisioning engine, assigning scores based on how likely the person is to be a fraudster.

The scores associated with each rule are fully customizable, as is the rule itself. And SEON can also shine when being used to develop identity confidence, in lieu of a full IDV process. We should clarify, however, that SEON does not provide document verification services. The way it can help support any KYC and IDV needs is by weeding out fraudsters before they reach that stage, which means you don’t have to spend money to verify junk users. You verify fewer individuals using IDV, but better quality individuals.

Account security, safe onboarding, as well as customer segmentation to find bad users and spot high-value customers are well within SEON’s capabilities, in addition to state-of-the-art fraud detection. Additionally, in markets where legacy financial data may be scarce or nonexistent, SEON’s alternative data analysis also can serve as a soft credit check or pre-check, allowing for a more efficient onboarding.

IDnow

The technology that powers the flagship IDnow product, VideoIdent, first started development in 2012. Based out of Germany, they became a GmbH in 2014 and launched as IDnow. At the time, video-based ID authentication represented a market gap and, as the demand and competition heated up, the company shifted towards automation for large clients.

The companies that will get the most out of the IDnow product will inevitably be German or have a significant German user base, since part of the IDnow suite includes a module specifically for the seamless authentication of the German ID card. 

Regardless of whether your company will make use of that eID functionality, IDnow offers strong, AML-compliant authentication by automated video check. It also includes an express version that emphasizes a diversity of verification tools over compliance, for verticals that don’t need AML. The company also offers a convenient wallet for verified IDs, so customers can be authenticated even faster on return to domains and apps, uniquely including a vaccination passport.

As premium add-ons, IDnow also features an e-signature applet, address verification, data archiving, and a variety of delivery methods depending on your domain and HR needs.

Trulioo

Trulioo was founded in 2011 in Ontario, Canada, by Stephen Ufford and Tanis Jorge. The company, now a “unicorn”, bases its IDV capabilities on a huge network of partner data that allows customers to verify individuals in 195 countries, based on a collection of 5 billion known identities. 

As the unicorn status might suggest, Trulioo’s customers and partners are generally enterprise-level corporations, with concerns to match their scale. The five principal products on offer are:

• Identity verification: Referencing the aforementioned partner ID database.
• ID document verification: Based on over 11,800 known ID types, with selfie check capabilities.
• Business verification: Allows companies to monitor their affiliates and partners for their compliance level, in order to keep compliant themselves.
• Global watchlist: To prevent volatile transactions and non-compliance fines.
• UtilityID: This feature allows businesses to confirm IDs and addresses through submitted utility bills.

To function with the highest security, Trulioo calls on the GlobalGateway API, which leads to the massive partner data network to confirm IDs and documents. To do so, it requires the submission of five crucial data points to have maximum ID certainty. As the company’s focus is enterprise fintechs and other money services, these data points are required for AML and KYC compliance anyway, so don’t represent much additional friction. 

Though geared towards large clients that can make use of its large data assets, Trulioo offers pay-as-you-go pricing, with volume discounts and dedicated support staff. Contracted customers also get 24/7 support, as well as custom reporting and optimization help.

Token of Trust

It was when one of the co-founders, Darrin Edelman, nearly fell victim to an online scam, that Token of Trust really started to form. He took that experience and, with Austin O’Brion and Kevin O’Brien, founded the firm in 2015. 

Now, Token of Trust is poised as an ecommerce-focused IDV platform with an emphasis on compliance accountability and data security. 

The company’s software suite is broken into nine main modules, all of which can help ecommerce businesses as well as other verticals with strict compliance needs. These are:

• government ID verification
• electronic ID verification
• sanctions and watchlist screening
• biometric selfie and liveness checks
• document verification
• address verification
• age verification
• PACT compliance
• tax compliance

Token of Trust’s main goal is not only to offer a complete package of IDV needs – not every competitor on this list offers these in its base-level software suite – but also to easily prove to governing bodies that they have done so. The focus, thus, of the software product is on companies for which there are legal requirements for their operation. These include verticals that require age verification, like the sale of tobacco and THC products, firearms and alcohol, but also government-adjacent verticals like education, finance and healthcare. 

Because of this particular focus, several modules uniquely offered by Token of Trust are explicitly to easily facilitate legal compliance, collecting necessary data from customers automatically, and autonomously generating submittable reports. Similarly convenient functions are available for KYC and AML reporting. 

TruNarrative

As part of the LexisNexis Risk Solutions suite, TruNarrative has access to a massive array of resources and tools to be part of a complete security and compliance ecosystem. 

Founded in 2016 by John Lord, TruNarrative was folded into LexisNexis to boost its IDV solutions to work in conjunction with its existing fraud prevention, AML, KYC, risk management, and account monitoring. As such, TruNarrative offers an extremely comprehensive software suite to cover every conceivable IDV use case. The modules offered include:

• IDV database referencing over 5 billion global IDs
• biometrics and document checking to facilitate smooth onboarding
• AML, KYB, KYC, ensuring compliance for affiliates, customers, and businesses
• AI decisioning and risk scoring for automated fraud detection and risk management
• network fraud detection: detecting fraud in-system through behavioral checks and app monitoring
• transaction monitoring for granular investigations and fraud detection
• virtual agent and case management, taking AI-powered data from human agent decisions and applying them to transactions that match closely enough, handling individual cases as a human would without needing manual oversight
• PEP checks to maintain AML compliance for banks and elsewhere
• audit trail and reporting, which provide actionable insights when developing reports to facilitate reporting responsibilities
• responsible gambling module for iGaming operators to maintain compliance with safe gambling mandates

Notably, TruNarrative is probably the most complete end-to-end provider in terms of IDV and the potential use cases around it. It can handle B2B, B2C and professional services onboarding, as well as transaction monitoring and lifecycle management. 

As part of the LexisNexis stack, TruNarrative has both an enterprise focus and an enterprise cost, with additional integrations from other parts of the LexisNexis suite of products being easier to integrate yet often costlier than other vendors. Companies looking for this level of coverage should keep the associated price in mind.

Ondato

In addition to IDV security, Ondato has a full focus on providing secure remote business capabilities to companies who require confidence in the KYC, KYB, and AML checks.

Founded with the goal of streamlining the KYC and AML compliance process, Ondato focuses on providing various environments for fintechs and banks to maintain their compliance and avoid the associated fines. While the software offer includes the typical IDV functionality through either photo or video ID checks, the company has diversified to cater to businesses that want even more remote security. Compared to other products on this list, Ondato uniquely offers things like:

• secure meeting rooms: for checking the identities of people attending video conferences
• AI-powered age verification: to visually ascertain the age of a customer without asking for documents
• secure virtual branch software: to provide customer success teams with a convenient platform for outreach to their clients

Additionally, though more predictably, Ondato also offers modules for PEP screening, biometric authentication, SMS and e-signature verification, as well as capabilities for onboarding partner businesses manually or through automation.

Ondato’s functionality is not geared towards the financial sector exclusively, but it’s possible such a company would take advantage of some of the modules like sanction screening. Enterprise-level organizations are thus invited to a contract-based payment model while smaller companies can use a per-transaction fee on top of a monthly licensing fee.

How to Choose a Veriff Alternative

As an IDV solution, Veriff is a clean and lightweight package – both in the sense of being a quick and easy method to verify identities with compliance in mind, as well as being a little less comprehensive than some other packages.

Choosing the right software for your organization is a decision that must be made with the knowledge of your own legal responsibilities. Matching your exposure to AML, KYC, or other legal requirements to the correct IDV solution is crucial. Competing offerings on the market are also available for all different scales of businesses, both from an integration standpoint as well as a financial one. Some of the products available are much better suited for an enterprise client than an SMB, so it is important to consider what matches your budget and staff headcount. 

It’s possible that Veriff is not the solution that matches all your needs, and some of the companies listed above may provide unique modules that fit your specific needs. Or perhaps its purported 6-second processing time is too long. As long as you are well aware of your business’s requirements, you should be able to choose an IDV solution that can meet them. 

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