Gone are the days when facial recognition was only a concept in sci-fiction movies. With the rise in fraudulent activities, the technology has not only become a procedure but is excessively used across the globe. In some companies, it removes the burden of HR by recording the attendance as well as their entrance and exit time and in other firms, it is used to fight the prevalent fraudulent and criminal activities.
It is a biometric verification that validates identity by scanning their face and then cross-checking the patterns present in the database. If the facial patterns match with the ones present in the system’s database, only then the user is given access to the company’s resources. Facial recognition that uses artificial intelligence can detect replay attacks, deep fakes, spoof attacks, etc. during customer onboarding.
Face Verification – The Promises it Comes With
Thousands of identity theft cases are recorded each year. The reason for this huge number is that scammers have become smarter as technology advances. They are continuously upgrading their methodologies to dodge the verification solutions to fulfill their illicit means. Conventional methods of verifying individuals manually have become obsolete. They are not only time-consuming but are prone to human errors. Thus, AI-based facial recognition has become an absolute necessity in the corporate sector. Let’s dive into the advantages that the modern verification solution offers.
Robust Identity Verification Mechanism
To enhance the efficiency of verification solutions, firms need a solution that not only enhances its mechanism but also improves its robustness. Facial recognition enhances the authenticity of the verification procedure. For instance, if a fraudster has provided an altered or forged document, the advanced verification solution detects it instantly.
Seamless Client Onboarding
As businesses have gone digital, clients also want to reap the benefits of the digital world. They want efficient onboarding solutions and manual verification processes are no more an option. Firms should deploy advanced verification solutions such as facial recognition technology to tackle the prevalent fraudulent activities. Businesses should consider a solution that is user-friendly as many clients leave the company because they find the verification step either too complex or time taking. Thus, facial recognition is the right choice for companies to provide their users with a greater experience. Individuals are validated, customers are onboarded and that too in no time.
Age Verification to Protect Minors
Protecting minors from the detrimental effects of the digital age has become really challenging for online firms. Ticking the box saying the client is above 18 is really not helping online sectors to identify minors. They are using age-restricted services which not only raises the concerns of their parents but also puts a dent in the firm’s credibility. Having advanced facial recognition technology, firms can protect minors from using age-exclusive products.
Face Verification- The Use Cases
Businesses use a face identifier to prevent scammers from dodging the verification system for their nefarious activities.
Banking and Finance
One of the main sectors that are badly destroyed by the criminals is banking and finance. Identity theft, account takeovers, money laundering, fake bank accounts, and terrorism funding are prevalent in companies that directly or indirectly with money. Thus, facial verification is their absolute need to keep fraudsters at bay.
Face verification solution is widely used by law enforcement agencies to check if there is any criminal residing on their premises. The facial pattern of the individual is matched with those present in the software database to check that all the incoming or present individuals are not a threat to them.
Face verification technology has made the payment process seamless in the e-commerce sector. The clients are just required to scan their faces and they are ready to book their order. It minimizes the risk of chargebacks and other fraudulent activities in the sector.
As players are moving to online gaming in the digital era which has made the sector vulnerable to heinous crimes. It becomes hard for the firm to identify minors using their services from another side of the screen. Thus, face match online service helps them a great deal as minors can not dodge the system and could only use services if they lie in a specific age category.
Using face verification technology, the healthcare sector can onboard patients quickly and their treatment starts in no time. It helps the sector restrict access to unauthorized individuals which helps the company protect the data of its patients.
Face verification has been used for a long time and it is one of the best services to enhance the security of any business. Using the solution, companies can effectively onboard clients, adhere to the CDD standards, and upgrade the security of the sector. Facial recognition is a great bet for all sectors whether it is an airport or border control to keep fraudsters away.
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