HomeTechnologyValidating Consumer Identity With...

Validating Consumer Identity With Document Verification Process

In today’s digital era, people are still adapting to various technological changes. On the one hand, where it offers convenience to the people – on the other hand, it also created few challenges. When technology was still evolving, a person’s identity verification was conducted manually a few years back. Although in manual verification, businesses were posed with inaccurate results and numerous errors that skipped right through the fingers of human experts.

It often required keeping up with new protective measures to filter out customers having any bad intentions. But as today businesses across the globe are working with customers online – they have to be sure if customers are precisely who they claim to be. This is the reason most companies have integrated document verification processes into their systems to combat malicious actors. 

The document verification method helps enhance the integrity of a brand and ensures the security of an overall organization and the customers. The system uses various types of government-issued documents to conduct the document verification process. Moreover, it helps organizations combat sophisticated fraud attempts in banks, financial institutes, or other organizations by strengthening identity verification. Further, the document verification method helps with reducing friction during the customer onboarding process, reduces attempts of identity fraud, and generates high revenue. 

Mitigate Frauds With Document Verification Process

Nowadays, document verification tools are coupled with biometric authentication, background screening, and customer risk assessment, including KYC and AML compliance, bolsters an unmatched accuracy. Companies find the latest document validation process more accurate while validating the users during new account openings or services. Further, the artificial intelligence incorporated within the document authentication system detects an account takeover attempt. Organizations can seamlessly analyze other dimensions of an identity along with verification of identity documents and document checks. 

The document verification system works effectively for many industries, especially those that deal with money every day, like banks. Companies could minimize the customer drop-off rate and increase conversions during an onboarding process in the initial phase. 

As fraudsters try sophisticated methods to get away with stealing, companies should add further security layers to identity proofing. For this reason, document validation plays a key role in preventing fraudsters from creating a deepfake or synthetic identity fraud. Moreover, businesses would also experience enhanced security, loyalty, and growth. 

Therefore, to mitigate fraudulent risks, organizations need to leverage KYC and AML verification methods to prevent fraud and drive overall efficiency. Organizations can adopt a unified fraud and verification solution by fully integrating the compliance and document verification tool. 

Performing Main Document Checks

Usage of MRZ

MRZ can be found easily on the document that contains the name, address, number, expiration date, etc. – encoded within the format. 

The technology helps with:

  • Recognizing and extracting encrypted data in MRZ
  • Checking consistency of the MRZ data with document information
  • Reading, analyzing, and authenticating checks on the document
  • Confirming the document expiration date.

Signs of Manipulation With Document Attestation Tool

Fraudsters can try various ways to commit fraud. They could cover the original image on the document with another photo. It leaves some edges on the photo printed on the document. Incorporating changes within the photo would result in making changes to security features interlocked with an original image.

Moreover, identity documents are secured with specified typography, holograms, and security marks. Criminals might attempt to make some data alterations in the information provided on the document and encrypted data in MRZ. The technology ensures: 

  • The document has used the correct fonts.
  • Standard security features and designs are on this type of document.
  • Checking for manipulation signs that provide the possibility of fraudulent attempts within the document.
  • The document is consistent with the government-issued document template. 

Hologram Verification:

Coupled with the document verification process, a video identification provides a 3D view of the document. The user tilts their document in various ways to show the holograms that are hard to forge and helps with convincing the technology. Although, it’s only possible with a video, as simple photos often don’t show up. 

Document verification processes and methods help organizations validate consumer data through various document checks. It helps to secure and validate the customer’s digital experience by reducing fraud attempts. However, it’s best to know document identification vs. authentication to experience the full potential of the verification process. Document identification deals with identifying the users, while document authentication means authenticating the users as honest or non-honest during the onboarding process.

Most Popular

More from Author

Beyond the Syntax: Elevate Your Code with Expert Programming Assignment Help

There are three things every student must master – reading, writing,...

Security and Compliance Importance in Healthcare Software Development

Security and compliance are not mere checkboxes in healthcare software development;...

Custom Insurance Software Development: Full Guide 2024

The security sector has changed as a result of technology. It...

Best Free Online Whois Lookup Tools

If you want to find out information about a particular website,...

Read Now

Tablets, Computers, and Personal Devices Revolutionize Smart Factories

In the dynamic landscape of Industry 4.0, the convergence of technology and manufacturing has given rise to the concept of smart factories. Central to this transformation are tablets and personal devices, which have become indispensable tools in the hands of industrial professionals. This article explores the significant...

DevOps Tech Debt Trimming: Cost Optimization with Kubernetes

Continuous reassessment and restructuring are essential for achieving pivotal and evolutionary advantages, particularly in the context of modern DevOps. The demand for intelligent and distributed solutions is continually rising through the unification of ops methodologies. The combination of DevOps and MLOps has paved the way for limitless...

Emerging Trends in Database Support: AI, Machine Learning, and Predictive Maintenance

As organizations navigate the evolving landscape of database management, the integration of artificial intelligence (AI), machine learning (ML), and predictive maintenance is ushering in a new era of efficiency and proactive problem-solving. This article explores the emerging trends in database support, shedding light on how the fusion...

Autonomous Mobile Robots: A Complete Guide to AMR Robotics

Hauling items from place to place may not have been the dramatic robot revolution we envisioned in our childhood – it may seem a little too simple, too regular, not quite cool enough. However, in actuality, it’s tasks with these exact qualities – tedious, repetitive, time-intensive –...

Demystifying Service Performance Tests: A Comprehensive Guide Featuring 4 Industry Giants

In the fast-paced world of technology, ensuring the optimal performance of services is paramount for businesses. Service performance tests play a crucial role in achieving this goal, providing valuable insights into the reliability and efficiency of systems. In this comprehensive guide, we will demystify service performance tests,...

How to Choose a Managed IT Service Provider for Your Business

Your IT department is one of your business's most strategic areas. Yes, it eats up a lot of your budget, but without it, your organization would remain obscure. Without IT services, you could not send or receive emails. You couldn't manage your business content (website) or employee...

The Malaysian Business Guide to ERP: Selecting the Best System for Your Needs

Enterprise Resource Planning (ERP) system have become a cornerstone for driving efficiency and innovation. Particularly in Malaysia, with its vibrant economy and diverse business landscape, the right ERP system can be a game-changer. This guide aims to steer Malaysian businesses through the maze of selecting the most...

Why is a SaaS’s Centralization Useful?

SaaS platforms are being adopted at an ever-increasing rate by businesses across a broad range of industries and sectors. While the SaaS model can offer some fantastic benefits, it is a different way of working that can require some adjustment time. Part of the appeal of using SaaS...

The Vital Role of MDM Solutions in Managing Shared Android Devices in Healthcare

The healthcare sector has been digitalized with the latest digital gadgets to streamline patient appointment scheduling, diagnosis process, and treatments. These devices are highly alarming for every healthcare center because some medical apps are very important in providing aid to patients in an emergency. So, it is...

Hiring the Best of the Best: Main Skills Unreal Engine Developers Must Have

Why does finding the right Unreal Engine developer look like a search for a needle in a haystack? The demand for these specialists has skyrocketed, yet the supply often falls short. This disparity creates a challenging landscape for companies that seek to hire Unreal Engine developers. To find...

Elevating Content Creation: AI Video Editing Mastery Sets the Standard

In the fast-paced realm of digital content creation, staying ahead of the curve is not just a preference; it's a necessity. As businesses strive for compelling visual narratives, the integration of Artificial Intelligence (AI) in video editing has emerged as a game-changer. This article delves into the...

Top 10 Ways AI is Enhancing Customer Experience

In today's world, Artificial Intelligence (AI) is changing the game in customer service. It's not just about using cool technology; it's about understanding customers better and giving them exactly what they need, even before they ask for it. From chatbots that answer questions at lightning speed to systems...