Is There Any Need to Verify Addresses of Onboarding Customers?

Trusted relationships and communication with customers are the keys to prosperity for businesses. The stronger connection between the two entities benefits them both. A customer will definitely Verify Addresses and research before choosing a business. He will search for the market reputation and customer services a business provides. However, onboarding authentic customers and having their correct data is what a company will do.

There is a storm of false and synthetic information on the internet. Confirming the name is not enough, the business should also verify the address.

How to Verify Address?

Address Verification

When a customer gets in touch with a business either for trading or asking for some information. The business will ask for some information from him.

The information can vary with businesses, such as a bank will be more interested in the income and financial data while a college will ask for educational history. But personal details are the same with everyone such as the name of the customer, his date of birth, gender, and where he lives.

Now the physical interaction has limited because of multiple reasons, Covid-19 being the most important one. Digital services are more common, now a customer will not go to a bank branch for funds transfer but use a banking app instead. Businesses onboard their customers remotely, e-commerce companies are an example.

A customer signs up on the website, searches for products, puts them in the cart, and then fills in the payment details. He does not meet the merchant physically, else all the operations are performed using a PC or mobile app. At the checkout or sign-up step, the website demands a valid address verification to deliver the product in the meantime. Customers do not accept late deliveries and this worsens the B2C relationship.

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Issues With Verify Addresses

There are some problems with Address Validation:

Format:

Some businesses have set up their address format but mostly follow the international format. While giving address data, users are not restricted to follow the format, generally.\

This problem can be avoided using separate text boxes for each address field like city, state, and country should be isolated.

Language 

This problem is seen as not very common but can rise if not dealt with smartly. The users give their address in their native language which should be translated into the desired language. It is a more frequent problem for businesses operating internationally. As their customers range from Asian to American and dozens of languages spoken in these.

Slangs and Acronyms:

Using slang or aliases can cause additional issues. A city or block could have more than one name. The businesses should update their database with all the names and any news related to them. Acronyms can initiate the same problem and can solve in the same way.

Spellings and Incorrect Details for Verify Addresses

Users often make mistakes while computer typing which can have serious outcomes. A single error in the street no. or block no. can deliver the product to another address. Although it can be solved by communicating with the customer but will definitely delay the shipment.

Verify Addresses Using Documents

A document verification issued by some legitimate authority having an updated address can be used for verifying the address. This process is used in the identity verification industry to confirm addresses. It helps them in creating authentic identities of customers.

Here is the walkthrough of this process

  • The users upload the images of identity and address document clicked from mobile phones or webcams
  • The legitimacy of the ID document is analyzed
  • The identification number and name is matched from both documents
  • The address data is extracted using OCR technology
  • The address data is stored in the system

Wrapping it UP

The online address verification service will help businesses to have accurate and updated addresses. Financial institutions and delivery businesses can use this solution to give seamless services to their customers.