While the sharing economy is in its infancy, as a sector it’s one that is certainly on the rise, and you can see why. The sharing economy’s unique ability to bring individuals and businesses closer together through the power of sharing and access to resource is inspiring and unique.

Companies like Air BnB, Prosper and Uber, are changing the way we interact with businesses and people and with each other.

However, with this new type of business comes the risk of fraudulent activity. That’s why we believe it has never been so important for the sharing economy to make sure they are carrying out the necessary checks when it comes to verification and customer identification checks.

As part of #GlobalSharingWeek, we’re giving our advice and insight into how companies within the sharing economy can protect their customers by using effective ID verification technology such as HooYu.

Our report last year revealed that the Sharing Economy is suffering from a lack of trust as consumers are wary of sites offering online peer-to-peer transactions without ID checks. 61% are uncertain or simply won’t share with someone without being able to check ID first.

At HooYu, we help you to verify an individual’s identity and background in 3 easy steps:

At HooYu, we help you to verify an individual’s identity and background in 3 easy steps

1. Analyse and verify a person’s digital footprint

2. Authenticate their ID document

3. Conduct a biometric facial check comparing a selfie of the customer with the facial image on their ID document.

HooYu then examines compares and cross-references customer identity across these multiple sources to deliver an identity confidence score.

With HooYu, sharing economy companies can quickly and securely identify customers without any complex or lengthy procedure, giving you the confidence to know you are carrying out the necessary checks and protecting your customers.