Most of us are familiar with the term identity theft and even may have become prone to such criminal activities. As the whole world is experiencing the coronavirus pandemic and businesses are adopting digital spaces.For their activities, that’s why due to the presence of criminal activities such businesses are struggling to fight fraud. Having in view the crisis situation SaaS companies have come up with Digital identity document verification solutions. Those are developed by utilizing artificial intelligence technology, due to which the surging rate of crimes could be reduced to none.
Thus, online businesses by employing this software can effectively authenticate the customer identity documents flawlessly.
Significance of Document Verification Solution
With technological improvisation, businesses are transforming. And adopting digital platforms for exceptional audience reach. Booming technology is pretty much assuring in giving a bright future to consumers worldwide. Today, the world is periodically evolving and at the same pace, there has been a significant rise in population growth. Due to which it’s getting difficult to protect the unique identities of individuals. For utmost security different business sectors including banking sectors, financial-technology companies. Medicare businesses, etc must have to be quite sure of their customers’ identities before enrolling them.
Additionally, as people around the world are experiencing pandemic outbursts, online shopping businesses are becoming more appealing. To customers, and transactions of billions of dollars are carried out yearly. Therefore, these platforms have integrated a tech-based verification solution.That will allow them to authenticate their users before registering as well as carrying out transactions. Due to this, the criminals intended to provide false documents can be precisely determined and ruled out from the system.
Document Validation- Ultimate Fraud Prevention
For identifying the real identities of the customers’ Identity verification is set compulsory in order to depreciate the suspicious. Exercises such as identity theft, creating synthetic identities and attempts to manipulate verification checks.
so, regulatory authorities have established various foundations and ordinances aligned with sanction-developing agencies. That are necessary for every know your business to acquire customers’ ID documents in order to verify their identities. This whole procedure is carried out with the help of document authentication services. In which the system requests the consumers to upload the government-issued identity document through which the genuine identities can be perceived and complying with the document checks businesses also validates if the provided documents are original or have signs of alteration. Using AI this whole tiring process is now fully automated.
Working of Document Verification Process
This AI-improved solution is installed into several business sites as well as in the hardware document scanning gadgets. These are fruitful in enhancing the customer onboarding procedures. This service works seamlessly and produces extremely reliable outcomes as contrasted to manual procedures. The customer intended to register onto the digital platform has to upload scanned copies .Or either photo of government-issued identity documents such as ID card, passport, driving license, etc. Then from here, the document Digital verification software takes accountability. Furthermore, using AI technology documents are checked thoroughly in order to determine signs of fakeness if present.
Multiple Types of False Identity Documents
Illicit ID Documents
Such ID documents are associated with fraudulent documents. In which the criminals prepare documents through illegal means and reconstruct the data as issued by the government authorities. These identity documents have insufficient points like the holographic pattern. Special ink imprints, and templates that is present on the original documents.
Fake ID Documents
These documents are not actually illegitimate but usually, possession of someone else. These documents are sourced from the dark web or either bought from legit people.
Altered ID Documents
Identity documents are intentionally created by the culprits to exploit the verification system and to carry out unlawful exercises. In this case, the information placed in the original documents is slightly modified.
Document Attestation – Key Feature
Automated identity document authentication software is embedded. With the strict checks that are responsible for verifying the templates and several other features.
- Determines the originality of the ID documents
- Identifying the templates of documents
- Validating MRZ codes
- Determines the torn edges
- Detecting signs of modification or alteration
- Identifying the special ink imprints
The online document attestation systems are enhanced using artificial intelligence and OCR technology. Which allows the business to explicitly distinguish .Between the government authenticated document and the false documents which are intentionally created to exploit the system.
Identity verification is an adequate way to authenticate the customers’ identity .In order to look into the genuine side of the client instead of frantically trusting someone’s words.