A computerized method electronically verifies identity data of a customer by requesting the customer to provide identity data from a customer identification document during a financial transaction. The method updates an identity profile of the customer by combining the received portion of identity data with different portions of previously received identity data that were previously received from different merchants during different transactions between the customer and the different merchants. The method compares the identity profile to the unverified identity data of the customer when a number of transactions with the account is greater than a first transaction threshold, and approves the financial transaction when the identity profile matches the unverified identity data.