Verification glossary: common terms explained
Verification comes with a lot of short forms. Here is a plain-language glossary you can keep handy when you talk to vendors, auditors or your own team.
Identity and onboarding
- KYC (Know Your Customer): confirming who a customer is before offering financial services.
- KYB (Know Your Business): the same for a company, including its owners and registration.
- eKYC: KYC done digitally, often with an ID number and an OTP.
- Face match: comparing a live face with the photo on an ID.
- Liveness check: confirming that a real person is present now.
- OTP: a one-time code sent to a phone to confirm access.
Hiring and people checks
- BGV (Background Verification): checking education, past jobs, address, records and identity.
- Address verification: confirming that a person lives where they say.
- Reference check: speaking with a past employer or other contact.
- Court or criminal record check: searching public court records for cases.
Insurance and claims
- PIVC: pre-issuance verification call before a policy starts.
- PLVC: post-login verification, done after a proposal is submitted.
- Claim investigation: a check of facts behind a claim.
- TPA: third-party administrator that handles health claims.
- Cashless claim: a claim paid directly to the hospital.
Vehicles
- RC: registration certificate of a vehicle.
- DL: driving licence.
- e-challan: a traffic fine issued electronically.
- FASTag: electronic toll tag linked to a vehicle.
Business
- GST: Goods and Services Tax registration.
- CIN and DIN: company and director identification numbers.
- Udyam: registration for micro, small and medium businesses.
- Due diligence: checking a business or person before a deal.
Privacy
- Consent: permission to collect and use data for a stated purpose.
- Data retention: how long data is kept before it is deleted.
How Praman helps
Praman by SatyaSakshi brings many of these into one workflow: a WhatsApp video call with ID, face match and liveness, plus checks added where enabled, and a reviewer who approves the final report. If a term in a report is unclear, the team can explain it in plain language.
Frequently asked questions
What is the difference between KYC and BGV?
KYC confirms a customer's identity for financial services. BGV, or background verification, checks a person's history, such as education, jobs and records, usually for hiring.
What does PIVC stand for?
Pre-issuance verification call: a call to confirm a customer understands and agrees to a policy before it is issued.
What is a consent-based check?
A check done only after the person has agreed, usually knowing what is being checked and why.
Related: how Praman handles this for businesses · all instant checks
Make verification simple with Praman
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