With the advent of computers in the 80s and the dotcom revolution in 90s, digitalization of data has become an inevitable option for every organization. While digital data revolutionized the way organizations store and manage data, it came with a price. As the data moved online, hackers found ways to steal the identity of a person and perform fraud transactions. To mitigate identity frauds, the government has imposed financial regulations in the form of Know-your-customer (KYC) and Customer-Identification Program (CIP). To conform to government regulations and secure customer data, organizations are turning to identity verification services.