The cutting-edge technology offers robust and efficient security measures against fraudulent activities. Companies regulate their operations through these solutions, and they increase their surveillance through these solutions. The future of document verification solutions is very bright, as their remarkable features have simplified the activities of the companies. According to a survey in Indonesia, 22.4% of individuals responded that they use fingerprint verification.
Approach of Document Verification
The companies verify documents to clarify that the identity of the users is real, and the businesses onboard their customers through it. The biometric solutions are very advanced; they allow only authentic customers to interact with the company. The entire process is done online; the companies do not need the user’s physical presence. Therefore, it is always suggested that advanced tools be used in daily operations. The documents verified through the biometric solutions are very reliable, as they allow only authentic customers to interact with the company.
Methods of the Verification of the Identity
The companies follow different means of authentication, according to the nature of the business. Here are the most common types of the verifications:
- Social Verification
If the client is already verified through the social media platform, then this validation is enough to get any other service provider account.
- Document Verification
In the document verification, the scanner checks that the client has given all the required papers. The users provide their identity card, bank statement, and residential address proof. The system checks the authenticity of the identity documents and compares them to the government database.
- Online Verification
In online authentication, the identity card of the employee is checked and it is compared to the database of the government. It uses artificial intelligence tools and manpower, which ensures an additional layer of security.
- Credit Bureaus Techniques
It gives the credit bureau the operator data from one or more institutes; they keep the credit card details of the clients, as they contain the address, social security number, and bank details. The new clients can not be part of such verifications.
- Digital Signature
The digital signatures use the unique cryptographic key instead of the handwritten signs. The client does not have to come to the office and then perform the document verification. Advanced solutions can create convenience for clients, as they save their employees time.
- Mobile App Authentication
This authentication is very common. Most of the clients have these apps on their Android phones. Whenever the user tries to access the account, a time-sensitive code is sent to their number. The customer has to insert it into the given form, and then the system allows them to open the account.
- Email Verification
In the email verification, a code is sent to the email account of the customer, this is done to check the validity of the customer.
- Phone Verification
In mobile phone verification, if a One Time Password (OTP) is texted to them, the customer has to insert it into the given blanks within the restricted period.
- Biometric Verification
The biometric verification involves the pupil, iris, sound, and fingerprints of the customer. These templates are used because every person has different impressions, so the companies can easily differentiate among them.
- Knowledge-Based Verification
In the knowledge-based verifications, the system asks some questions from the user that only a valid client can answer. If any hacker is trying to log in to the account, then such queries are very helpful in detecting these frauds.
Why are Document Verification Solutions Necessary?
Biometric solutions increase the surveillance of companies, and they thoroughly check the profiles of clients. If the company is not aware of the data of the user, then there is a chance that they can onboard any person who is involved in any illegal activities. Companies increase their revenue through these solutions as their miscellaneous expenses are reduced. These solutions detect the liveness of the user and restrict all kinds of fraudulent activities. The scammers can not use stolen pictures or the videos to bypass the security. The clients also prefer to interact with the company that provides them with seamless services.
Conclusion
Document verification solutions increase the surveillance of organizations; they increase their revenue by safeguarding them from fraudulent activities. Companies can certify that their business partners are legal and that it is safe to collaborate with them. Organizations can enhance their customer retention rate and facilitate their customers to the maximum. The companies can rank them on a global level, as the entire process is done through digital means, and the companies can also reach international customers. These tools are experts in detecting mysterious activities. Therefore, companies secure them against data breaches.