With the advent of smart technology and its penetration in today’s smart devices, the world has steadily moved towards digitization. In other words, people now consider face-to-face interaction less enjoyable and would rather communicate through mobile devices. This has however posed various challenges to the growing industries, especially banks and other financial institutions. However, it’s one of the primary reasons that fraudsters are starting to claim their identities as people tend to use the same technology.
To curb the threat of fraudsters, companies are now moving with strict security measures. This means, more and more organizations are realizing the impact of global document authentication to vet bad apples out of their system. Keeping this view in context – “What is identity document verification?” Does it really require a physical presence of a human to conduct an entire verification process?
Or is it really necessary to have manual verification at each step to conduct document authentication? These questions are highly relevant in today’s day and age. Therefore, trusting the human ability to verify id documents is understandably more complicated and poses a high risk of errors. This is the reason that growing industries are looking towards an AI-enabled document validation solution.
How Does Verification of Document Work?
Identity document validation is the process of validating government-issued documents. Some official document types such as passports, national ID cards, bank statements, or utility bills are suited for document verification. But depending upon the requirements of each organization, some companies might require one or the other address verification documents. Further, the document authentication process requires scanning of personal information, such as name, address, and city. The system also helps facilitate the scanning of other features in identification documents that includes stamps, watermarks, fonts, etc.
Replacing Manual Document Authentication With Automation
In recent times, the process took place manually and customers had to appear physically for proper verification. But, we are all familiar with how it ended up with long queues and slow processing time. Not to mention, the huge number of errors that generally skipped through the hands of humans experts.
Nowadays, a lengthy process that usually took several hours or even days is squeezed down to a few seconds. Because almost everyone has smartphones and could easily upload their government-issued ID document along with a recent photograph. Although it brings one more challenge to the surface. It requires the some-what involvement of a human being to conduct a document check.
Challenge With Matching Personal Characteristics to Human
As mostly regarded by most individuals, identity is something that makes an individual unique and sets them apart from others. Although, it’s backed with the matching of unique personal details such as name, DOB, ethnicity, region, etc. Address verification required also provides further verification proof of service at the end of an authentication process. It ensures that the accuracy of an entire authentication process can’t be accomplished only at the face value. Putting layers upon layers of various verification methods makes the entire security system robust. Ultimately, it keeps up a strong guard that stops any malicious attempt in its tracks.
Solving Verification Problem Through Automation
Suppose a most popular bank that opens hundreds of accounts on an almost daily basis. They can’t possibly afford to hire resources for verification of all the digital documents including images and videos while also asking people to fill-out identity verification forms. It would not only cost massively but the time is also going to drive up. With an AI-powered identity document validation tool, the problem could be controlled eventually and ultimately it would help in uprooting the problem completely. The system disintegrated with an automated system that works intelligently to match physical characteristics from various types of approved identities. On the other hand, the system simultaneously conducts the verification process through a step-by-step process.
Step-By-Step Process of Document Authentication
The automation has proven to be more effective than the manual work multiple folds. The system automatically checks for the forgery while ensuring better accuracy by taking into account the mathematical comparison. Here are some factors that the solution considers to put into the equation:
- The system automatically scans and matches data, such as name, document number, DOB, etc to keep up with the consistency.
- The identity document validation solution also checks for signs of forgery or alterations in the original image.
- The system helps to verify some characteristics that are difficult to alter, such as validating holograms and conducting the document’s 3D view.
- It checks document edges for thickness or tearing.
- Lastly, it conducts verification of the overall quality like text overlay, watermarks, etc.
Deploying an automated identity document validation would help businesses to introduce agility coupled with higher accuracy. This would not only help with reducing the errors but also ensure great results in terms of customer satisfaction. So planning ahead into the future requires attention towards, “What is Identity Document Verification”?