How Digital Identity Verification can help you reach Sustainability Goals

Digitization created an unexploited network of data, which potentially can result in benefits to society and the environment, provides a unique opportunity to analyze the network data with the goal of strategically addressing many challenges associated with United Nations (SDGs) and creating a future society that is sustainable. 

To exploit these opportunities development of smart systems both generates and analyze relevant data is thus required, smart technologies are envisioned as game-changing tools.

Digitalization introduces a new set of tools that must be carefully balanced to enable intelligent use and environmental sustainability. 

Digital Transformation (DT) and organizational sustainability are two significant market variables in today’s corporate world. All businesses in all industries must strive to practice sustainability It has the potential to improve the company’s image and productivity while also meeting client needs, research also suggests those companies that orient their digital transformation plans around a higher purpose are likely to better gain the trust of users and be more competitive. 

Going green can refer to any action that helps people make more environmentally conscious decisions. Central government departments, local government bodies, significant energy firms, and major retailers all use our digital transformation services. 

The role of Digitalization in addressing sustainability 

1- Relationships and trust are major influencers 

The relationship that end-users have with government, service providers, and their community had a strong influence on their behavior and attitudes towards identity. In instances where national security was a concern and trust among citizens was low, having access to official proof of identity was a priority. Conversely, where community relations were strong and trust among citizens was high, these personal relationships often provided the most important proof of identity 

2-Create Decent work and Economic Growth 

Economic growth should be a good force for the entire planet, which is why job creation should be encouraged, along with increased access to banking and financial services, to ensure that everyone benefits from the innovation. 

3-Smart digital solutions to enhance urban safety 

The use of new technologies can facilitate the management of cities with the use of smart devices such as AI-based thermal imaging, and multiple senses that would generate data and aid in the creation of a more sustainable eco system.  

4-AI- enabled fraud

Another promising topic that will continue to gain pace in future years is the use of AI to improve identity and fraud management. Businesses can onboard clients faster and screen for fraud more effectively using intelligent automation. Even better, AI can now be used to detect deep fakes. 

5- Adopt best practices to stay safe in the digital age 

Customers can be onboarded more quickly and easily when businesses use digital identity instead of going to the branch. Implementing modern identity verification solutions that are more efficient and effective in weeding out the bad guys early and onboarding good customers quickly 

6- Security Measures 

 Implementing innovative solutions for identity verification can improve security measures and increase customer trust while complying with regulations. 

7-Business expansion 

 A move into a digital space provides untethered access to potential customers not normally reachable physically. 

8-Paper recycling 

Digitizing the business reduces the need for paper and not only reduces the cost and impact on the environment but keeping up with the digital world is vital to retain customers also transforms your business enabling you to deliver better services, migrating from paper to digital is not simply a matter of replicating old processes using new technologies. Innovative technologies make it possible to address client needs in new ways. 

9-Increased Profits 

Businesses’ productivity and profitability improve as a result of digital transformation. 80% of businesses that have completed a digital transition report higher earnings. 

10-Improved productivity 

Having the proper IT tools that operate together can enhance productivity and streamline processes. It allows team members to operate more efficiently by automating many tedious procedures and integrating data across the firm. 

11- Smart electricity 

For example, digitizing power grids and applying new technologies like AI and machine learning to their components can result in significant efficiency gains and reduced energy loss. 

12-Putting customers’ demands first 

You connect with customers by improving digital capabilities across the value chain, but also make all organizations more efficient. 

13-Reducing operating costs 

With a shift to the digital world, in most cases this means a move outside to the physical world requiring less financial dedication to physical spaces that require overhead costs such as rent, utility and the staff required to keep up a space. 

FACEKI endeavors to align with UN SDGs in hopes to contribute to a better and brighter more sustainable future, because everything is going digital , Identity Verification is becoming more important and this is where FACEKI comes in. 

A digital KYC that elevates your customers experience