Current Practices Offer Poor Solutions
In the age of constant, instantaneous connectivity, organizations are still using 100-years-old, labor intensive, weeks-long processes to validate people’s identity and qualifications, impeding efficient human capital utilization.
Records are scattered across a multitude of sources—Government databases, license registries, financial institutions, past employers, educational institutions, professional associations, and contingent work platforms. The issue lies in the fragmentation and isolation of these data sources. They operate in silos, lack standardized formats, and, most significantly, fail to interoperate.
This challenge has given rise to a multi-billion-dollar industry of verification services, which, in the absence of a more suitable solution, resort to century-old practices. These involve making phone calls and navigating the labyrinth of siloed data sources, ultimately compiling a comprehensive, yet often error-prone, verified portfolio of an individual's records. This outdated process requires weeks to finalize, is plagued with privacy issues, and fundamentally misaligns with the pressing needs of the modern economy.
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