The world has gone digital, with most interactions and transactions happening online. However, this has also intensified cybercrime and identity theft, increasing the need to prove that you are dealing with the right person. Luckily, modern technology has enhanced ID verification by transforming the authentication process from manual to automated. Read on for four ways modern technology is improving identity verification.
Biometric authentication solutions
One of the most powerful and secure ways modern technology has improved identity verification is through biometric authentication systems. Biometric authentication technologies rely on unique human features such as fingerprints, iris, retina, and voice to determine an individual’s identity, significantly reducing the risk of identity theft. A user has to pass through security processes directly to verify their identity, reducing the probability of dealing with the wrong person.
Thanks to modern technology, access to biometric authentication systems has become more straightforward, as smartphones now come with facial recognition and fingerprint scanners.
Machine learning for ID proofing
Most organizations rely on ID scanning to reduce fraud and identity theft. However, operating an ID scanner under poor or low lighting, or in the case of a worn-out, old, or torn identity card, could yield inaccurate results. You could end up dismissing a genuine ID for failing an authentication test. Machine learning allows organizations to enhance accuracy when determining the authenticity of a specific identity card. It performs a visual inspection to analyze unique features on distinct locations on a worn-out ID or document scanned under poor or low lighting.
While identity verification is crucial for most business entities and organizations to prevent cybercrime, upgrading to the latest ID verification technologies can be expensive. Changing an organization’s existing core technologies could result in undesired ramifications should the new iteration not achieve the desired goals, which makes most companies hesitant to upgrade.
The modern identity verification technology is designed to integrate the organization’s existing processors fully. This means that any compatibility issues that may subject the company’s data and documents to security threats are discovered and corrected in the prototype phase of tool development. This allows the identity verification tool to work immediately upon implementation.
Video-based facial identification
With the rise in identity theft and fraud, relying on physical data and documents for ID verification is unsafe, especially for professional and financial transactions. Modern technology has led to developing a powerful tool, the video-based facial recognition software, that relies on an individual’s unique facial print to identify a person. With video-based facial recognition, the risk of dealing with the wrong person is minimized as one has to be physically present to verify their identity.
Video-based facial recognition is an effective tool for organizations developing surveillance or security systems requiring minimal access. It also provides an effective way for financial institutions, including banks, to verify customer information and reduce fraud with the rise in remote banking. Deploying video-based facial recognition to your organization’s security detail is more practical and straightforward as smartphones today come with front cameras.
Identity verification is an effective way to avoid legal implications, prevent money laundering and theft, and improve customer satisfaction. Consider investing in the above identity verification strategies propelled by modern technology to protect personal, social, and commercial data.