Address verification has been a crucial subset of other checks carried out by the organisations. Address of an employee is recorded by the organisations to have a multiple contact points of an employee. It also lets the organisation know more details about the employee. Organisations need to develop various contact points with the employee for emergencies or adverse happenings.
Address verification is a basic need of financial institutions which lets their customers avail financial services. They need to know more about their customers as a part of KYC.