Address Confirmation
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Organizations can leverage the Address Confirmation API to verify the authenticity of a given address. This is particularly important for financial institutions, including traditional banks and non-banking financial companies, especially those with video KYC requirements.
Clients can establish more secure customer identities by determining whether an address has been visited by a Field Executive for delivery or return pickup. This process is not only a matter of convenience but also a critical component for regulatory compliance. Through this verification process, companies can confirm the legitimacy of an address.
The Address Confirmation API can be used in a variety of scenarios. Here are is an example use case:
A BFSI client has a requirement to validate the authenticity of a new customer's address to ensure compliance with regulatory requirements. The verification is crucial for tasks such as customer profile verification, address validation, and potential future collections.
To expedite the verification process, the BFSI client can leverage the Address Confirmation API. Once a Field Executive visits the address for either delivery or return pickup, the API confirms the validity of the address, thereby increasing efficiency and streamlining the verification process.