How Identity Verification Services Can Protect the Corporate Sector?

Id verification is a process of validating the identity of individuals by authenticating their Id documents. to ensure that the person is really who he claims to be. Nowadays, online frauds are on the rise and to avoid such scams, identity verification becomes necessary, especially in financial institutions. It is compulsory for different processes such as opening a bank account or paying tax online. It becomes more critical in online businesses where identity theft is common.

Digital Identity Verification Service

It is the process of verifying the customer’s identity through automated means such as document verification along with facial biometric authentication. With the development of science and technology, billions of users are shifted towards online services such as paying utility bills, taxes, or fees through digital payment transfer methods. With the increase in online users, the chances of id frauds also increase, which seems to be a threat for the masses. To avoid identity theft and to make customer’s data secure, digital identification solutions are of great importance as they use OCR (optical character recognition) technology. Let’s have a discussion about OCR technology.

How does OCR technology work?

In most of the ID verification services such as age verification, address verification, or in document verification, OCR technology is used. OCR technology makes these services more reliable because it extracts data of the user from all types of documents such as handwritten documents, paper invoices, receipts, old business records, official paper base letters. First of all, the customer enters his personal information like DOB or ID number and uploads an identity document, secondly, OCR extracts the required information and at the end, the system shows a result whether the person is verified for using the specific service or not. Digital identity verification also speeds up the verification process to facilitate customers. These services are of various types. Let’s explore them one by one.

Facial Recognition

Generally, users use passwords to protect their accounts but their accounts are not too secure as they can be hacked by phishing attacks. So, an alternate solution is needed to secure user accounts. Online face recognition is one of the secure available solutions for identity verification as it detects spoof attacks in real-time. AI-powered face verification solution verifies customers through 3D depth analysis. It can spot spoof attacks, detect the live presence of the end-users, and lastly takes their biometric data for comparison. Liveness detection takes live biometric data, microexpression analysis to analyze human expressions to make face verification the best solution for ID verification. Face recognition takes just a few seconds to verify the customer’s identity, and the system can screen multiple users at a time. Due to the integrity of this service, it is estimated that face verification services will increase up to 3.8 billion U.S. dollars in 2020.

Document Authentication

It is a quick and reliable way to verify all ID types of documents at any time worldwide. Document verification reduces manual work which was a bit insecure by providing a digitized way to verify identity documents. In document verification, the name, date of birth, ID number, residential country of the customers are matched with the provided documents. Document verification supports all types of documents in different languages and the verification of the customers is done within few seconds.

Address Validation

It verifies the customer’s residential details in real-time to check the previous record of the customer. It just takes few steps to verify the address that includes uploading a photo with an identity document, secondly uploading a secondary document that contains an address, and finally, an AI-based system gives the result after verifying the documents.

Age Check

An age gate or age verification is used to restrict those who are less than the minimum age limit set by different websites or systems. Clicking a checkbox for age verification is not enough, so a digital age verifier is needed to solve this problem. Online age verification solution is an authentic way to verify age as it uses advanced AI-based multi-factor authentication to check the real age of the user. Age verification just takes a few seconds to verify the age of the user and is completed in a few steps. So, by using age verification services, we can restrict all those people, especially minors, from accessing inappropriate sites.

Conclusion

In the digital era, Identity verification services are of great importance because these services make our life easy by combating online fraud and giving data protection to all internet users. Online identity verification services are the best substitution for knowledge-based authentication and passwords. By using these services, end-users can avoid data breaching issues and online ID fraud prevention.

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James Barker

James Barker has over 5 years of experience in Digital Marketing like SEO, SMO, ASO ORM & Google Ads. He holds a sound understanding of technical requirements/problem analysis and resolution for providing the best solutions to clients.

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