Businesses Turn to Platforms for Secure Identity Lifecycle Management
Businesses are increasingly adopting platform-based identity lifecycle management (ILM) solutions to protect their digital systems, especially in regulated or high-risk industries. These solutions help detect errors, prevent unauthorized access, and ensure compliance with regulations like privacy laws, KYC, and AML rules.
Traditional systems are complex and fragmented, consisting of various identity verification (IDV) platforms, data sources, and legacy infrastructure. Modern IDV platforms simplify this by managing the full identity lifecycle securely, from onboarding to offboarding.
The user journey typically involves onboarding, authentication and transactions, and offboarding. IDV platforms offer complete onboarding IDV checks, case management, built-in compliance, and perpetual KYC monitoring. They provide an all-in-one, automated solution for identity lifecycle management.
Platform-based IDV solutions can make a significant impact in key phases of the identity lifecycle. They enable automated, real-time onboarding, adapt access rights during role changes, and ensure immediate and complete deprovisioning when an employee leaves. This strengthens security and reduces manual errors.
Regula IDV platform is one such solution, offering complete identity verification, database-driven checks, user data management, customizable workflows, smooth integration, and a ready-to-use solution for on-premise or cloud deployment. By implementing such platforms, businesses can enhance security, stay compliant, and streamline operations.
