Address Verification can get Tricky
Long ago, the worst-case scenario of not verifying an address was the occasional letter arriving at the wrong mailbox. In today’s e-commerce, with Know Your Customer (KYC), Know Your Business (KYB) , and Anti-Money Laundering (AML) compliance requirements, address errors have become even more costly. Now more than ever, we need to ensure good background verification services . As creators of products and platforms that rely on correct addresses for efficient service delivery, we can’t simply hope our users will always supply valid, accurate, and authentic addresses. We need to employ solutions to parse and standardize the provided address properly. At the same time, we don’t want new users to feel daunted by the process of inputting addresses. An efficient, customer-centric address verification solution is invaluable for ensuring accuracy without compromising customer experience. Address verification enables us to confirm that a maili...