How Digital Document Verification Can Help Your Business

-

Almost every business is vulnerable to identity fraud. Scams are increasing in frequency on a daily basis, and the main reason for this is that businesses lack solid identification methods to authenticate their clients. The industries of age-restricted venues and banks are particularly vulnerable to criminality on a wide scale. Due to the nature of their profession, they are vulnerable to online face verification identity fraud. Industries can combat this type of fraud by implementing digital verification services.

Age-restricted platforms and banks are particularly vulnerable to cybercrime. Banks, as custodians of clients’ funds, are a prime target for cybercriminals looking to execute illicit acts for monetary gain. Age-restricted websites that sell age-restricted products are likely to block access to minors. Attesting papers as part of the verification process is the most effective way for businesses to achieve their goal of gaining customers’ trust.

How to verify documents online?

Digital document verification should include all necessary processes for authenticating clients using their identification documents using artificial intelligence. Identification documents issued by the government include identification cards, driver’s licenses, and passports.

Also interesting: How Improving Document Management Increases Business

Providers of documentation verification services require consumers to submit their documents during the user onboarding process. This is a straightforward procedure that needs the customer to submit any government-issued identification document. Optical character recognition software collects data from documents and performs the necessary examinations.

Companies can authenticate their users using such verification technologies. The online document verification gateway enables both businesses and consumers to take full use of online services that would otherwise require both parties to exert additional effort to complete.

What solutions are there? You could look at established providers such as Veriff, Sumsub, Trulioo, Shufti Pro, Regula, Onfido, for instance. There is no single right solution provider to match all companies though. First you have to define your requirements and then try to find a company that can provide the right solution for you. This might also vary, based on what region you are doing business in.

Access gate to age-specific websites

Minors and vendors face serious repercussions if age-restricted websites fail to authenticate the consumers’ identities. Age-restricted businesses will ultimately face severe fines for violating regulations designed to prohibit minors.

This could be interesting for you: Is NFC Suitable For Digital ID Verification?

The verification of passports, IDs and other documents assist businesses in authenticating minors, ensuring that they avoid legal repercussions in the event of noncompliance. At the time of customer onboarding, age-exclusive websites demand customers to present identification documents. After the documents are submitted, the software compares their age to the one entered manually by the clients. Occasionally, the site will also demand clients to submit a photograph to be compared to the image on their identification paper. This e-verification document is the most effective technique for age-restricted platforms to ensure that no minor can access services designed for adults. Thus, you may ensure that your organization is protected from penalties for non-compliance with applicable legislation.

Enterprises benefit from verification technology

Users’ authenticity is verified through the use of documents such as passports, driving licenses, and identification cards. It provides numerous benefits to organizations, the following being a few of them:

Fast Services

Businesses that rely on digital verification of documents can benefit from providing customers with a fast onboarding experience. Clients do not have to stand in long queues and be physically present to validate their identity. The whole process increases the reputation of customers and builds brand recognition.

Enhancing business-to-consumer (B2C) confidence

Through the use of document attestation services, businesses can establish a trustworthy relationship with their customers.

Services that are genuinely result-oriented

Verification of identification documents in conjunction with facial recognition is critical for authenticating results.

Fight identity theft

By authenticating users based on their identification documents, digital document verification is one possible way for businesses to combat identity fraud.

Customer satisfaction is increased

While users benefit from a frictionless experience free of lengthy processes, they grow accustomed to their firms’ automated verification processes over time.

Related article: EU Proposes Digital ID for Cross Border Checks

User experience without friction

The online document verification system is a straightforward procedure that enables businesses to earn the trust of their customers.

Reputation is protected

Firms that refrain from engaging in any legal action naturally earn the trust of other businesses, thereby preserving their reputation.

Compliance Legislators monitor corporations to ensure they are abiding by all applicable laws. Firms that fail to comply suffer severe fines, which may include the loss of their reputation and also the loss of their financial reputation.

Closing remarks

Businesses rely on online document verification portals to authenticate their clients. Perpetrators use a variety of techniques to manipulate or alter online document authentication in order to benefit themselves. Businesses that do not comply with verification requirements can quickly get into trouble with fraudsters. Bad actors are sufficiently proficient in their activity to alter papers in such a way that they may easily fool the human eye. Therefore, identity verification checks are essential to establish a seamless customer onboarding process.


YouTube: Digital Document Verification in 3 Steps | Shufti Pro

Photo credit: The feature image has been done by Isabella Danilejko.

This guest article has been submitted by jordon smith. While we appreciate guest contributions, it's important to note that the views expressed by the author are not necessarily reflective of those held by TechAcute.

Was this post helpful?

Guest Author
Guest Author
This article has been submitted to us by an external contributor to TechAcute. We appreciate all external contributions but the opinions expressed by the author do not necessarily reflect the views of TechAcute.
- Advertisment -
- Advertisment -
- Advertisment -
- Advertisment -
- Advertisment -
- Advertisment -