Persona, identity infrastructure for real-time verification and protection, today launched its free Starter plan out of beta, the first permanent free solution in the identity verification industry. This offering will enable any sized business to offer instant identity verification for up to 500 verifications a month at no cost while protecting users’ personally identifiable information (PII) such as social security numbers, bank account numbers, addresses, and more against fraud and identity theft, complying with existing data privacy regulations like General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA).
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The COVID-19 pandemic has accelerated business’ need to digitize their processes. As organizations onboard new digital tools, it is paramount that they build in privacy and security. Persona is helping businesses of all sizes meet this demand with the release of their new Starter plan, which is the only offering of its kind to bring transparency and affordability to the identity verification process with industry-leading data protection, automated fraud detection, and compliance with data privacy regulations.
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With this offering, Persona is enabling customers to quickly and easily get started with identity verification without a costly contract. Early beta customers like Clever Credit have used the Starter plan offering for a variety of use cases from trust and safety to KYC.
Fraud and identity theft are widespread and costly to consumers, and reputation-damaging for businesses of all sizes: More than $5 trillion is lost to fraud globally each year. A recent study by Iomart estimates that, every time a company’s data is breached, they lose about 7.27% of their overall value. In 2019 alone, 14.4 million consumers – 1 in 15 people – were victims of identity fraud. Furthermore, organizations amassing sensitive PII through the identity verification process must safeguard the data to maintain their customers’ trust and comply with new stringent data privacy regulations like CCPA and GDPR.
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