Verification is an essential process before doing any task. Whether you have to create a social media account, or if you are traveling, or making an online transaction, verification of your identity is a must. As we know that the number of online users is increasing rapidly around the world. This provides ample opportunity for fraudsters. On the other hand, businesses also need document authentication to know their customers. To avoid online identity theft, a secure solution for the verification of documents is needed. Let’s have a look at document verification.
What is Document Verification?
The process to confirm the identity of the customer by checking its provided documents is called document verification. Document verification supports thousands of identity documents for verification in multiple languages with more than 90% accuracy. According to a report, there are 14.4 million identity theft frauds reported in 2018. Online document verification plays a vital role in impeding fraud. It just needs an identity document to authenticate documents. An identity document or identification document is something in which the customer’s personal information is present like Name, DoB, address, etc. Id document includes passports, ID cards, and driving licenses.
Why Is Online Document Check Needed?
Businesses need to authenticate their customers before providing their services. Some businesses use manual ways to verify the identity of their customers while some use automated ways. But the customers like to verify themselves through online means such as facial recognition as online verification is more accurate and secure. On the other side, many businesses are also shifting towards online document verification as it takes less time for document attestation. Online document verification also helps businesses to meet security regulations.
Why should Businesses Adopt Document Verification Solution?
As we know that companies lose billions in online frauds every year and the number is still increasing as the fraudsters are finding modern ways to commit crimes. Businesses have to face several problems while maintaining security regulations such as lack of resources and data breaching issues. That’s why different organizations are using digital document verification services to combat online fraud. The online document verification process just takes a few seconds to authenticate the customer. The customers are also attracted to online document verification as they find this solution a more secure and reliable way to verify themselves.
How Secure is Document Verification?
AI-enabled document verification systems provide foolproof security to businesses and their customers to verify their documents using address verification, age verification, etc. It identifies illegitimate, false, or modified documents using AI-based OCR technology. Online document verification system rejects fake documents and sends proof of verification to the back office. AI-powered software assesses various components during identity verification. These includes:
It ensures that the document of verification is real or not.
It checks whether the format of the document is correct or not.
Authenticating MRZ code
The AI system uses machine-readable zone code to check the legitimacy of the document to make sure that the document is not edited or modified.
Detecting crumpled/folded edges
The system detects the folded edges of the document that may affect the identity verification process.
Detecting signs of tempering/forgery/photoshop
AI-based document verification system detects photoshopped documents if there is a difference of a single pixel to add up the integrity of this service.
Confirming holograms/rainbow prints
An AI-based system verifies only government-issued documents having holograms. And if there is any change in the document, the system detects it easily and rejects the verification.
Verifying Special paper and Ink
As we know that the government-issued documents are made up of special paper. The system also detects if there is any change in documents regarding the quality of ink or paper.
Checking the micro prints
For security purposes, the government-issued documents have microprint to deter fraud. The system also recognizes the document if they do not have micro prints on them.
These checks make identity document verification more secure and make verification services more robust.
Online document verification helps businesses to comply with all security regulations led by regulatory authorities to deter fraud. It facilitates the customers with more secure and reliable identity verification services that authenticate them within seconds as compared to manual verification. Document verification solution also helps businesses to prevent online frauds and regulatory penalties. Digital document verification is more secure as compared to manual verification as it detects all types of fake, illegitimate, or modified documents in real-time. This makes this service more authentic and helps to give customers a better user experience.