Identity verification services got a much-needed rejuvenation for the 2010s and even for upcoming 2020s, thanks to biometric authentication. Accuracy and speed of a particular KYC verification were significantly reduced with the help of biometric identification methods. Online businesses and portals hosting millions of users are in dire need of verifying their clientele carefully without compromising on the efficiency of their services. Various online KYC providers might have guaranteed reliable customers with authentic credentials but unfortunately, most of them took few hours, if not days, to complete a KYC verification. Biometric authentication might have solved the sloth-like verification speed issue of KYC industry but the sophisticated system still needs a few fixes
Fingerprint – Most Common Biometric Authentication
Most of us hear the word biometric and think of a fingerprint scanner. Such is the huge scope of fingerprint scan on the overall biometric authentication. The working principle of fingerprint scan that led to its widespread usage was that every person has a unique fingerprint and this uniqueness was used by businesses and online identity verification services to track the unique identity of their users. This uniqueness even led IT companies to launch mobile phones, tablets, and laptops with fingerprint scanners to unlock these devices.
Flaws in the Fingerprint authentication
Fingerprint scans were based on a solid scientific precedent but soon online scammers and fraud posing bandits worked out ways to cheat this supposed airtight biometric authentication process. Data Banks were hacked carrying fingerprint records of millions of users. Afterward like credit card numbers and stolen passwords, fingerprints were compromised as a source of reliable biometric authentication and identification benchmark. Identities were stolen and businesses started to register users with fake identities leading to losses of millions of dollars due to online fraud cases.
Biometric authentication got a new age solution that was not only cost effective but rather more secure as well. Facial verification not only ensured that biometric information collected for verification is not only easy to collect requiring no special equipment but also nearly impossible to replicate. Facial recognition played a vital role in making facial verification the new face of biometric identification with KYC industry jumping on the opportunity. It was perfect for both virtual as well as physical verification of a person’s identity creating an opportunity for both onsite as well as offsite identity verification. KYC verification became efficient and advanced technologies like 3D-depth analysis and liveness detection made it impossible for hackers to initiate facial spoof attacks.
KYC software with Facial Verification
Now in Facial verification, there might be a biometric authentication service that can help reduce online identity theft cases but most KYC service provider finds it hard to offer a reliable service quality. Most of the biometric identification services lack the necessary expertise to handle the labor involved in facial verification. There are data protection issues for online identity verification services, in addition to concerns that the KYC verification systems are not “smart” enough to differentiate between a live facial image and dummy image shown to it. But Shufti Pro is offering reliable biometric authentication services to its customers with the help of Facial verification. The X factor that distinguishes facial verification of Shufti Pro from any other competitor is the use of Artificial Intelligence and machine learning algorithms to verify facial images of users. Attention to details and real-time verification status are not the only 2 competitive edges that are provided by AI to Shufti Pro’s Facial verification. Shufti Pro customers stand to benefit from Proof of verification in its Back Office to check for themselves the authenticity of biometric verifications authorized by Shufti Pro using Facial verification
Biometric authentication is an effective way to reduce business costs sustained due to online identity theft and cyber frauds but as it has been discussed using a reliable identity verification is necessary to enjoy the true bliss of biometric identification. Artificial intelligence provides much-needed strengthening to online identification services especially those offering biometric identification like Shufti Pro. On the same note, Facial verification has higher safety features as compared to fingerprint scan that is no longer the most authentic method to verify a person’s identity using biometric features. Facial verification, on the other hand, goes beyond the limits of ordinary biometric authentication and touches upon different other facets of online identity verification. It helps to provide authentication for identity document by matching the original photo image with a Facial verified image of a person. This, in turn, helps in address verification and document number verification as the authenticity of the document is established by the presence of an authentic facial image.
Shufti Pro already offers a complete service pack of identity verification services, in addition to its online biometric authentication service. A hybrid of AI and Human Intelligence works 24/7 to ensure that only verified customers are provided to Shufti Pro customers.
For more information, please Visit Site