The common verification processes have some limitations which enable the scammers to violate the integrity of the authentication system. For example, an identity authentication service only looks at the authenticity of the records but does not check the originality of the information. This is where cybercriminals can bypass the system by using fake credentials to achieve their goals. Face verification technology can help companies discourage fraud because it has amazing features like the liveness detection feature that can catch any kind of document/identity fabrication during the authentication procedure.
AI-powered Facial Recognition Technology – What is the KYC Face Verification System?
Online face verification software helps verify the identity of a customer immediately. The software quickly scans the facial signature of the customer by cross-checking it with the images in the databases. Machine learning algorithms play an important role along with artificial intelligence. The online process does not require any physical ID cards or long verification processes. Hence, it is the best biometric service in the market.
What are the Applications of Online Face Verification Technology?
Paper-free and Safe Travel
When it comes to airports, the public business is using face verification technology for verifying the identity of their passengers. The application of online face verification technology became critical because of rising incidences of human trafficking, drug trafficking, and money laundering. In the case of document verification, airports were facing a number of issues because of natural changes in the paper and poor customer experience.
The application of online face verification technology enables comprehensive passenger security and a positive travel experience. Both of these factors are important in maintaining a positive image in the market. Moreover, high accuracy levels and smart time consumption ensures a positive experience for individual clients and businesses. Experts predict that by 2023 majority of airports will use Face Recognition online technology. But lack of adequate resources can be a problem to reach full automation through online face verification technology.
Crime Prevention through Online Face Verification
Law enforcement authorities are always looking for ways to close the loopholes in their security services. This is to make sure that cybercriminals do not take advantage of it. FBI (Federal Bureau of Investigation) has been using advanced software for effective suspect identification. The match in the criminal database can help them identify suspects who should go through the due lawsuit procedures. There are some police departments in the USA that use online face verification software to detect suspects in CCTV footage. The use of technology has raised a number of privacy concerns from social activists.
Full Automation – What are the Possible Obstacles?
- The global watchdogs have put a number of restrictions on the use of online face verification technology. They are especially strict on the use of public data. The San Francisco’s Board of Supervisors has banned the use of online face verification technology. Similarly, the states of San Diego and Oakland followed the same path
- The only way forward is to use the customer data with utmost care. Customers’ data safety is one of the biggest concerns of the global regulatory bodies. They want to make sure that users show compliance with GDPR and CCPA laws.
The good news is that the private sector has not faced such issues in the use of online facial verification technology. If all the companies use clients’ data with ethics, there will be substantial growth in the online face verification industry.
The Expected Growth of Online Face Verification Technology
The face verification market is becoming popular and experts predict substantial growth in the coming years. By the end of 2025, its financial revenue will cross $7 billion. In this context, businesses will shift towards online face verification rapidly. The integration of advanced features of AI will further improve the technology. The global regulations have become complex and strict with the passage of time which is concerning for the companies but the advanced software facilitates companies in adhering to the KYC/AML regulations.
Each business will be able to give credible and secure service to the clients because the software only connected them with genuine customers. The use of online face verification technology ensures accurate identity verification and reduces fraud cases. Hence, security, credibility, efficiency, and reliability are the promises of advanced online face verification technology.
In a nutshell, companies across the globe are onboarding their distant clients and developing business partnerships with organizations from all over the world. The advanced face recognition system allows them to incorporate customers through safe login credentials. Companies can fully utilize the features of the technology with comprehensive data security protocols. It is a sustainable solution for businesses that leads to long-term growth (i.e. total automation). It means that there are a number of possibilities for the public and non-public agencies.