Comparison | Didit vs SEON: The Best Alternatives in KYC

The market for fraud prevention and identity verification solutions offers numerous options. One of the most prominent players in recent years has been SEON, whose platform has revolutionized real-time fraud detection across multiple industries.

However, the needs of many companies have evolved. Obliged entities understand that anti-fraud and KYC solutions must be more accurate, adaptable, and, above all, affordable. Therefore, many institutions might start looking for alternatives to SEON in the market.

Notice: The information in this comparison (Didit vs SEON and the best alternatives in fraud prevention and KYC) comes from online research and various user comments on different platforms. This content was updated in the last quarter of 2024. If you believe there is an error or need to request a specific correction, please contact us.

Key Features of SEON: What Does It Offer in the Fraud Prevention Market?

SEON has built its reputation in the fraud prevention market on a platform that combines digital footprint analysis, artificial intelligence, and machine learning. Its approach focuses on real-time fraud detection, using more than 90 digital and social signals, along with deep device intelligence to validate every user interaction.

The platform stands out for its API integration capability and customizable rules engine, allowing companies to implement a fraud prevention system tailored to their specific needs.

Where Didit Beats SEON: A Free and Quality Alternative

The current market for fraud prevention and identity verification requires an approach that combines efficiency, accessibility, and security. While it's true that SEON has been considered one of the main players in the sector, solutions like Didit have arrived to revolutionize the KYC and AML compliance industry thanks to a free, unlimited, and forever identity verification service.

Didit's competitive advantages over SEON are significant:

• Didit offers a completely free identity verification service ($0.00 per KYC verification) and a fixed price of $0.30 per AML verification, with no monthly costs or long-term commitments. This model democratizes access to identity verification technology for businesses of any size, in contrast to SEON's Starter plan that begins at $599 per month.
• Didit's reusable identity technology allows users to create a verified digital ID (Didit ID) that they can reuse in future KYC processes, drastically reducing onboarding times and improving user experience. SEON does not offer a similar functionality.
• Didit natively integrates NFC verification, along with facial recognition and document verification in a single automated flow. This combination of technologies ensures maximum security during the KYC process, while SEON focuses more on analyzing digital and social signals.
• Didit's KYC software includes address verification and document monitoring, offering a more comprehensive solution for regulatory compliance.
• Didit's optional real-time AML Screening service allows adding an additional layer of security to the process, comparable to SEON's capabilities but at a significantly lower cost.
   

Why Look for an Alternative to SEON: Didit, the Best KYC Solution in the Market

Although SEON offers a robust platform for fraud prevention, market needs have evolved towards more agile and, above all, accessible solutions.

SEON's high costs are one of the main reasons to look for alternatives. With a Starter plan starting at $599 per month, many companies, especially startups and growing businesses, find it difficult to justify this investment. In contrast, Didit democratizes access to identity verification, offering completely free KYC services with coverage in more than 220 countries and territories.

The complexity in configuration and use of SEON can also be an obstacle. Several users have reported that the platform can be "daunting for beginners," which can result in a steep learning curve and potentially less effective implementation.

Additionally, the limitations in SEON's most economical plans, such as the restricted number of users (10 in the Starter plan) and custom rules (50 in the same plan), may be insufficient for growing companies or those with more complex needs.

Didit's innovation with its reusable KYC system, which allows users to create a Didit ID and reduces onboarding times to just 3 seconds, represents a paradigm shift absent in SEON's suite. This feature not only improves the user experience but also significantly optimizes regulatory compliance processes for businesses.

In summary, while SEON offers a robust fraud prevention solution, Didit presents itself as a more accessible, innovative, and user-centered alternative, especially attractive for companies seeking an efficient and economical KYC and AML solution.