Criminals are evolving and making use of encrypted technologies to manipulate industries’ processes and reap their desired benefits. They simply slide through the identity verification checks by using masks, spoof attacks, or fake information. advanced and sophisticated as they are using the encrypted method to exploit benefits. As per the report by CNBC, an audio deepfakes caused a hefty penalty of $10 million.
Therefore, industries need more robust methods to validate customers. Among these, biometric screening is the ideal way to detect criminals and imposters during registration. This method is backed by AI technology that is hard to dodge. These services are less time-consuming and employ mathematical algorithms that secure the platforms all the way. Furthermore, they detect liveness and scan biological and behavioral traits for onboarding customers. Read on to explore more biometric recognition solutions and the benefits they provide.
Different Types of Biometric Identity Verification Solutions
Biometric authentication is the evolved type of Know Your Customer (KYC) process. It includes biometric scanning and verifying customers’ identities in real-time. This process is more reliable because the biometric traits are not similar for every customer. Hence it gets easier to identify legit customers and detect criminals.
As per Shufti Pro’s News, industries using encrypted services are expected to attain authenticity and accuracy in a better way. Therefore, artificial intelligence and machine learning techs are making biometric screening more robust. It mainly involves facial recognition, fingerprint, and retina scanning, evaluating digital signatures. This way businesses can prevent fraudulent activities through anti-spoofing techniques. Furthermore, businesses can prevent identity theft in the following ways:
- 3D in-depth analysis
- Liveness detection
- Micro expression and traits analysis
How Does Digital Biometric Authentication Process Work?
A biometric security system helps customers to log in to their devices and accounts as well as touchless onboarding at airports. These processes remove friction and expected delays. It has the following steps:
- During the initial stage of registering, biometric technology ensures the live presence of the customers by using liveness detection. Customers are required to upload real-time selfies and videos.
- After the required details are entered by the customers, AI-powered technology runs a scan and extracts the required data by using OCR technology. It later stores the facial features and other data as mathematical algorithms.
- Later on, the system cross-checks the end-user’s identity for high-risk transactions and matches the face with one on documents.
- This information is sent back to the back office for future use.
Biometric Authentication – Its Benefits
Biometric identity verification enables industries to not only verify customers but also keep track of their activities like funds transfer, purchases, registration, and various other use cases. It allocates several benefits, common among which are shortlisted below:
Seamless, User-friendly, and Accurate Processes
The foremost benefit of AI-backed biometric screening is convenience and accuracy. The process is user-friendly and one place makes it non-intrusive. Customers are not up for the lengthy complex processes, the worst of which is abandoning the process. Therefore, customers should employ seamless digital services.
Shufti Pro Fundings makes it clear why the biometrics industry will achieve higher market value as industries are massively investing in it. Furthermore, industries are securing the authentication by incorporating various layers of identification. For instance, iris, digital signature, fingerprint, or facial features scans.
Identity Validation and Verification
Conventions and manual identity verification methods are considered outdated because of their less accuracy and errors. This is why the number of identity theft and data breaches is dramatically increasing. Furthermore, the entered personal information like identity details, proof of address, and social security numbers alone cannot validate the claim of customers that they exist in the real world.
As per Shufti Pro News, biometric passports and other authentication help businesses counter these fraudulent concerns. This is so as duplicating the unique facial features, voice, signature, and retina is way impossible to conduct.
Information Security and Protection
The personal identity information of customers is prone to various threats including phishing attacks, cybercrime, and online fraud have become commonplace. This increases the need for companies to come up with better robust solutions. This is so to guard customers’ information and place a layer of security around it for protection.
Therefore, an AI-backed biometric security system allows businesses to lower the unforeseen threats, abide by regulations and follow onboarding protocols.
To Bring Things Together
Digital biometric screening is getting due to its accuracy and unique authentication process. It proves a risk-free experience for both customers and industries. Moreover, these AI-backed biometric security solutions allow companies to verify customers by scanning their facial, biological, and behavioral traits.