All You Want To Know About Identity Verification

Identity verification is the important process of authenticating that an individual is the one they claim to be. With increasing cases of data breaches, cyber-attacks, identity theft, and theft from accounts, the implementation of watertight verification procedures through high-end identity verification software has assumed great significance.

There is also an increasing demand for remote ID verification processes due to the COVID-19 pandemic. The latest digital identity verification methods such as biometric verification, face recognition, and digital ID document verification can help companies, governments, and financial institutions verify a person's identity online in a seamless manner.

The goal of identity verification companies usually involves detecting identity fraud and determining if someone is misusing the data. User identity verification also plays a role in Know Your Customer (KYC) and anti-money laundering (AML) efforts at financial institutions. They assess and monitor customer risk, which is an important security measure to combat any potential fraud related to customer accounts.

Global ID verification services and global identity verification solutions enable a balance of security and user experience. Large organizations have adopted cutting-edge identity verification solutions to prevent money laundering, fraudulent activity, identity theft, processing of high-risk transactions, compliance, and cost-cutting on manual processes.

Moreover, amplifying internet penetration and increasing eCommerce activities have increased the demand for the latest identity verification tools to ensure trust in business relations from start to end.

Methods of Identity Verification

Smartphone: Smartphone cameras capture the customer's passport, driver's license, or other ID documents.
Fingerprints: Multiple fingerprints can authenticate the user's identity in a contactless and non-intrusive manner.
Selfie: Here the individual uses their smartphone to capture a selfie-and perform a real-time detection test. The selfie is compared with the portrait from the ID document to provide the highest level of assurance.
Video KYC: A live video chat between an individual and agent can be a more authentic and guided way to verify and capture the onboarding of the service user's identity.
Behavioral analytics: Analyzing the behavioral attributes of individuals, like identifying their interaction with their devices and data entry patterns, is a means to detect fraudulent usage of a user's device and account.
Voice: Voice-based verification involves analyzing the voice patterns of individuals to create a unique voice signature that can be later used to validate and authenticate them.

Methods of Identity Verification

Smartphone

Smartphone cameras capture the customer's passport, driver's license, or other ID documents.

Fingerprints

Multiple fingerprints can authenticate the user's identity in a contactless and non-intrusive manner.

Selfie

Here the individual uses their smartphone to capture a selfie-and perform a real-time detection test. The selfie is compared with the portrait from the ID document to provide the highest level of assurance.

Video KYC

A live video chat between an individual and agent can be a more authentic and guided way to verify and capture the onboarding of the service user's identity.

Behavioral analytics

Analyzing the behavioral attributes of individuals, like identifying their interaction with their devices and data entry patterns, is a means to detect fraudulent usage of a user's device and account.

Voice

Voice-based verification involves analyzing the voice patterns of individuals to create a unique voice signature that can be later used to validate and authenticate them.

The Use Case

Digital identity verification involves biometric verification, One-time Passcode (OTP) verification, knowledge-based authentication, and facial detection. It enables the capture, extraction, and analysis of ID data to authenticate government-issued identity documents and discern what is real and fraudulent.
Real-Time ID Verification involves automated ID document verification, where documents can be authenticated within seconds. Artificial intelligence and advanced authenticity algorithms are used to analyze the image captured by an in-built camera or hand-held device to produce an authenticity score.
To verify the identity of a remote customer, financial institutions use a facial recognition system to compare a live image of the applicant with the image on a verified ID proof to identify that a user is not fraudulently attempting to open an account.
Online identity verification providers compare the documents the person has submitted, especially a verified data set like passport data, National ID, or a biometric stored on a user's registered mobile phone or system. Digital identity verification compares the presented data with the verified set to ensure whether a person is the same as they claimed to be.

Embedded security features such as watermarks or holograms can also be detected, and their positioning and appearance can be analyzed using advanced authenticators. Besides, a detailed analysis of fonts, their consistency, and the spacing and shape of letters is also carried out by comparing them to standard fonts for a particular document template.

Benefits

An identity verification service lowers the burden of manual data entry since data extraction can be done straight from the document.
Images captured through mobile for verification process are usable and accessible for everyone. It provides a secure and seamless user experience while mitigating fraud and complying with regulations.
Digital identity verification delivers an excellent user experience which can add to business growth.
Fraudulent activity and revenue loss can be minimized through Real Time ID Verification.
Ensures healthy growth for businesses and best-in-class customer experience with low friction. Combining multiple layers of verification, such as biometric verification and identity document validation, can help to reduce the risk of identity fraud.
Identity proofing solutions build up the level of knowledge and trust you need to be confident that your customers are authentic and genuine.
The advanced Identity verification process provides a smooth and seamless user experience, scalability, and fraud prevention.

Secure identity verification is a critical part of cyber security and a significant challenge for businesses. Accurascan is a global solutions provider of unique and customer-centric identity verification services to enroll, manage, and authenticate your customers' digital identities. For more details, call us on +91 820-898-8751 or mail us at sales@accurascan.com

Supported Countries & Identity Documents

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