What is the average processing time for a verification to be finalized?
At Token of Trust, we understand the importance of timely and accurate verification processes for our users. When asking about the average processing time required for verification to be finalized, several factors come into play. Here's an in-depth look at these factors and the latest statistics, as of March 31, 2024:
Processing Times:
Verification Flow: Data Verification + Government ID Verification + Human Review
- 90% of users cleared in less than 5 seconds.
- 95% of users verified in less than 90 seconds.
Factors Affecting Verification Processing Time:
1. Verification Flow Requirements:
The processing time hinges on the specific requirements of the Verification Flow enabled. These requirements encompass aspects such as the mandatory submission of a Government ID, utility bill inclusion, or database checks.
2. Level of Assurance and Geographic Coverage:
Our verification methods vary in their level of assurance and geographic coverage. Instances requiring higher levels of assurance or broader geographic coverage may experience prolonged processing times. To enhance assurance, verifications that cannot be automated may be escalated for human review.
3. Additional Information Requests:
Verifications may encounter delays when users are asked to provide supplementary information to complete the process. The average processing times provided above account for delays stemming from such requests.
4. Automation and Human Review:
While automation streamlines our processes, human review may be necessary in certain cases. The average processing times outlined above encompass both automated procedures and human involvement.
Summary
These statistics reflect our commitment to expeditious and efficient verification processes. It's important to note that while the majority of users are verified promptly, variations in processing time may occur based on the specific requirements of the Verification Flow and the level of assurance needed.
Requesting More Information
For further information or inquiries regarding verification processing time, don't hesitate to reach out to our dedicated support team. We're here to ensure a seamless verification experience for all our users.