In many industries, the need for accuracy in the verification of users is a critical security requirement. The use of technology to complete user authentication means that customers and clients can easily access sensitive information and accounts without the need for in-person verification.
In the past, some types of transactions, particularly those in the financial sector, could only be done by visiting a branch or physical location for identification verification. Even then, manipulation of documents was a factor to consider, with the human eye less likely to detect quality forgeries. Even with in-personal identification verification, identity fraud and theft were a significant risk.
The Use of Technology
Today, thanks to digital technology, user authentication can offer 100% OCR or optical character recognition levels. The ability to read the image and the text and immediately detect any manipulation of the image or the document makes it highly effective in preventing theft and fraud.
Additionally, the option to incorporate this type of user authentication platform allows for safe remote access for customers and clients. Using software that can detect the presence of a live person, and not an image, as well as face match with multiple points against existing documents, it is possible for the company to verify the user is both present and the individual with access to the account.
Used for opening accounts, for KYC (know your customer) requirements, and ongoing access to accounts for transactions, the option to go digital is increasingly important in today’s world.
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