The advancements in technology lead to growing online working machinery. These days the process of keeping up with new technologies, security trends and threat intelligence is a challenging task. However, digital identity verification solutions are necessary to protect information and other assets from cyber threats, which take many forms. Digital Identity proofing is a useful tool to identify and scrutinized the forged identity with real-world identities.
Identity comes into play when it comes to the business and the ability to accurately identify the persons accessing systems and networks is a key component in apprehending and prosecuting a business. We all have heard of identity theft cases that led businesses to pay penalties. The business needs to know who they are dealing with. The threat of fraud and fear of losing customers has organizations turning to digital identity verification, Passbay CEO Mathias Klenk provides insights into the authentication technology. Online ID verification is of great help in this regard as it provides a secure platform to know the client and ensures security with ease. It has become more vital after kyc document verification and AML regulations.
How Digital ID Verification works?
By the emergence of the biometric sensor, OCR technology, and high-resolution cameras it becomes easier for businesses to adopt digital authentication and identity verification. A customer whose identity is being verified first holds up their identity document to a web or smartphone camera to scan the relevant information. Once the image has been received, it is then examined by software to verify the document’s authenticity. In some cases, the image is also manually examined by document experts who can detect forgeries. An additional option available is for the person to provide a live image capture of their face for matching against the photo on the document. Finally, the result is either a verified or non-verified identity.
Perks of Using Online Document Verification:
Following are the benefits that come with using digital document verification:
- Increased Security:
It's more important than ever to verify the documents of clients due to an increased risk of terrorist funding and money laundering. Identity solutions are a great tool to instantly verify the document quickly and easily, making business feel safer.
- Boost Up Better Customer Relationship:
Online document verification eliminates the annoying pile of paperwork making the business one step ahead and more customer-friendly. Clients will appreciate it as their time is also saved.
- Ensure Greater Accuracy
Online identity verification eliminates all the possibilities of errors and streamlines the online process. The more you reduce the gaps and the circle for margin of doubts and chances of confusion, the more reliable service you ensure. Same is the case with digital document verification.
- Reduce Risk Of Fraud:
Recent surveys have shown how identity theft becomes an increasingly wide threat for customers as well as business enterprises. So how to bottle up this genie to ensure smooth functioning of security protocol? Digital ID verification is surely an answer. Verifying documents online decreases the risk of frauds like identity theft and many other online scams.
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