Why do Drug License Verification?
Validating an individual, business identity and compliance is crucial before trusting, partnering and dealing with either of the two. Potentially, Banks/NBFCs can use it before lending, insurance companies before issuing a policy or for any kind of partnership with drug wholesale/retail business. Moreover, increased government and industry regulations (such as AML, KYC, and SOX) now place the responsibility on businesses to carry out identity authentication and ensure their customers aren’t fraudsters and identity thieves.
Drug license verification helps in verifying the existence of drug wholesale or retail business besides identifying it has a valid license to operate. It also provides details about registered pharmacist being a drug wholesaler or retailer.
Drug License Verification act as a reliable proof of identity and address. Antecedents validated include:
- Name of the Licensee
- Type of license
- License Validity
- Address of the Licensee
And many more…