Why do Electricity Bill Verification?
Businesses need to validate an identity proof and address for every interaction with an individual. This helps in reducing business risks while strengthening the relationships and building confidence in your brand. In such a situation, electricity bill verification or any other for that matter becomes necessary, particularly when increased government and industry regulations (such as AML, KYC, and SOX) aims to place the responsibility on businesses to carry out identity authentication and make sure their customers aren’t fraudsters or identity thieves.
Electricity bill verification helps in authenticating the identity of an individual to prevent identity frauds besides acting as a useful document for KYC.
Electricity Bills act as a reliable proof for a person’s identity and place of residence. AuthBridge uses advanced APIs to verify Electricity Bills of individuals from data pulled out from state electricity boards from across the country. Information validated using this check includes:
- Name of the Individual
- Residential Address
- Other Bill details like due amount, current bill amount, due date etc.
Our Electricity Bill verification service is quick and helps uncover identity frauds to reduce business risks.