Definition
Confirming that a person is who they claim to be, typically by matching submitted ID documents, biometrics, or database records against the applicant.
Business Importance
Identity validation is a mandatory step in KYC and fraud-prevention workflows for BFSI clients, and increasingly for any business onboarding customers who will hold an account balance.
Industry Examples
Matching a selfie photo against a government-issued ID during a digital account opening flow.