Why Digital Document Verification is Better than the Manual Verification

Technology is massively evolving for document authentication and verification by taking the entire universe along. Here, the pandemic provide the open ground for advancements. The scenario has increased the desirability to connect and onboard remotely to unexpected levels. This was bought along with a struggle for the customers to keep up with the identity verification. As per the reports FTC receive, there were a total of 2.2 million fraud complaints. 

To fight this rapidly increasing menace, businesses are looking for reliable solutions among which document verification is the most preferred. Businesses are obliged to perform this due to the KYC and AML regulations. As per the UK’s guidelines, all vendors and businesses will have to carry out identity verification before onboarding. Speeding this process up are the online services that allow businesses to verify customers in minutes through AI-backed software. Hence, there are various reasons why digital identity document verification is better than the old manual one. 

How Does the Digital Document Verification Identify the Customers

Only a few customers might not be familiar with the verification services that businesses are now using to identify them. The process is simple – while onboarding the platform, it will ask for government-issued documents that contain proof of identity. In the traditional manual method, a verification officer checks the documents and verifies the picture with the customer in front of him, alongside the details. But this method has various drawbacks majorly, human error. 

However, the online document authentication and verification verifies the impersonator and onboard the authentic customers. The main benefit of using these services is that businesses can onboard remote customers by spreading the business worldwide. Fraudsters are not the same as they were in the past, they are equipped and transform. In competition are the digital document verification services. Some of the few documents types that criminals use for faking the identity are:

• Modified Documents

Criminals sometimes try to save their money and time by simply altering the documents and submitting them for verification. Fraudsters use photoshop softwares to make changes in the document like age, name, or address. These documents give a tough time to the human officers as they are modify in such a way that their naked eyes can not identify them. However, AI-backed technology runs a detail scan and critically analyzes the font size, pixels, and information on the document. 

• Forged Documents

Forged documents are the complete fallacious ones. They don’t contain holograms, prints, watermarks, and other standards as prescribed by the legal authorities. The digital document verification services run the scan and pinpoint these mistakes. 

• False Documents

These documents are neither forged nor modify, rather they are physically stolen. This helps the criminals to impersonate someone they are not. They use these for numerous reasons. For instance, availing of a loan, opening a bank account or applying for health-base benefits. By getting ahold of these, criminals can easily bypass identity document verification. 

DIFFICULTIES IN PROVIDING DIGITAL IDENTIFICATION

1. A collection of documents with a wide range of topics

There are about 6,000 distinct sorts of documents that can be use for ID verification all across the world. Although certain documents are easier to fabricate than others, each type of document has its own set of fraud defences.

An image of the ID, the visible data on the ID, and any additional information store within the document are use to validate an ID document and authenticate a user’s identity. After the data has been extracted, it is check for accuracy.

Even though the types of ID documents a student can use to authenticate their identity are limit, determining which type of ID the student has requires complex algorithms.

2. Forgery of Biometric Data Is Changing

Following the verification of the ID document, the next step is to verify the applicant’s legitimacy; however, are the customers who they claim to be? This is performe by comparing the facial image to the photo on the ID paper. Face liveness detection may be requested by some businesses.

There are certain issues in this step of the ID verification process. It is fairly usual for a valid user to fail a facial matching exercise due to inadequate lighting. Furthermore, biometric data forgery is becoming increasingly common.

Constructing for Everyone

1.1 billion individuals worldwide, according to some estimates, do not have any form of official identification. It’s tough for a company to verify a person’s identity if they don’t have any ID documentation to begin with. Keep the following users in mind while creating a public-facing digital ID verification service:

Do you have no idea how to operate a computer?

• Your immigration situation isn’t well-understood.
• Due to physical characteristics or appearances, we are unable to give biometric information.
• Have religious or personal beliefs that prevent the collection of biometric data.

Digital Document Verification Vs. Manual Verification

As evident from the data by Statista, the digital identity verification market is expecte to hit more than $18 billion by 2027. Hence there is no substitute for businesses but online document verification. Customers are the actual gold of any business and their security is their prime concern. Hence, as of 1998, the US Congress pass the Identity Theft and Assumption Deterrence Act. According to it, any person impersonating the identity of someone else will be treat under the law. 

By keeping all these under consideration, the businesses are obliged to comply with KYC/AML regulations. And they should, to secure their worth and onboard authentic customers. The world is speeding up so should the processes. Therefore, from accuracy, cost-effectiveness to fraud detection, digital document verification is the reliable hold-on-to solution.

Accuracy

The AI-backed services analyze the documents in such a way that manual verifiers could ever be able to. The online document verification service matches the information with thousands of those available in the database. Hence the accuracy is not questionable. 

Time Taken

Manual checks can take as long as 72 hours but on the contrary, digital verification takes some minutes and verifies the identity authentically. Human verifiers will check detail by detail whereas the AI-backed technology will run a scan collectively on all the details. 

Tempered Documents Identification

Modifying the document with photoshop takes minutes while the manual detection takes days and sometimes still stays undetect. However, the alteration is not 100% accurate and the left-behind artifacts are detected by OCR. In this way, businesses can prevent fake and criminal onboarding. 

Cost-Effectiveness

Time is crucial, so is money. Businesses are always in need of cost-effective solutions that do not need big amounts of revenue. Furthermore, manual verification is restricte by schedule whereas digital document verification process is an all-time available service.