The identity verification solution is compulsory for almost all the firms. The reason for complete identity verification is the prevention of fraud and thefts. The online system of business, working and all the other services is efficient for most people in today’s world. It provides ease and convenience to its users. The users can effectively interact and communicate with the digital world with just a few clicks. The online world is quite interactive with several new methods of easing the day-to-day connection between users.
With the demand so high for online platforms, the fraudsters are also in the game for multiple purposes of making illegal money. The criminals basically use the online systems to gather data which they can use to damage the platform.
Identity Thefts – A Major Concern
The reports show a rise in online crime as people are being bullied and falling prey to scams on digital platforms even on social networking sites. Media consumption is high for the modern-day user and the online tools are being developed by cheaters which help in stealing information of the users. This results in a number of losses and dissipation within the online community.
According to Statista, 65% of the users fall prey to online attacks from attackers. These attacks include multiple injections of viruses on online systems and other fake instances of websites and apps which are created to steal the identity information of the user.
To tackle the havoc of online identity fraud digital methods of identity verification are being implemented in most major businesses, organizations, and offices for a complete evaluation of their user before any onboarding proceedings.
Digital Solution to Overcome Identity Theft
The digital methods are very efficient in providing complete control over user evaluation. With digital methods of verification, it is difficult for attackers to bypass the online security system. The digital methods use Artificial Intelligence and other new technologies that enable the authorities to effectively differentiate the real and the fake user from the system. One of the digital methods for the digital onboarding of clients is the use of biometrics to verify user identity. This method of verification is used by the most modern-day critical systems.
The Biometric Identity Verification System
The biometric identity verification service is a gift of technology to the world. It uses the credible attributes of the users for identification of the user. The biometric attributes contain different sets of characteristics that are unique from person to person. The new online verification system uses this very fact to process the identity information of the user. Great accretions are being generated for biometric identity verification systems such as the shufti pro funding. Using biometrics also prevents synthetic identity fraud and provides an advanced way of user identity authentication. Some of the biometric methods are as follows:
Facial Recognition:
Facial recognition is what we get to see at almost every entry point of several organizations, firms, and offices. The facial recognition system uses human facial characteristics to identify the user. It processes the human facial features such as skin color, depth, and other aspects of shape and jawline to create a digital entity of the subject in the database. The identity verification method is secure and provides a digital identity verification service with the least risk.
Fingerprint Identification:
This method of verification was used as the very first biometric way of evaluating the users. It uses the fingerprint impression of the users to create patterns that are unique for every person. With fingerprint identification, the attackers cannot steal the user data as it is protected by the unique fingerprint of the user.
Video KYC Solution
Another digital method to verify the client is the method of video KYC. With video solutions, the traditional approach is updated by the new technology which helps in faster and more reliable identity verification of the user. The video KYC solution can be used to reduce synthetic identity fraud as per shufti pro news.
Conclusion
The Identity verification solution is a great initiative for preventing online identity thefts. KYC compliance is subjected to be followed as the law of online security. The major financial and other social institutions perform the complete user assessment before any onboarding process. The user’s identity is verified by different methods of verification and user authentication such as document verification and address verification techniques. The introduction of digital solutions for identity verification services is now being used as the major method of verification as they are accurate and provide complete information about the client. These methods include biometric recognition like face recognition and fingerprint verification of the user.
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