Online service and product companies are constantly trying to match users' expectations, such as product demand, access safety, logic security, and much more. With the shift from brick & mortar to online shopping and physical interaction to virtual dealings, it is crucial to safeguard the platform and customers. Online document verification is an essential step toward this vision.
With technology changing continuously, how we look at ‘security' also changes. That is one reason our software requires upgrades: Companies are tirelessly working to enhance the user experience at the backend. Document verification lets companies keep track of customers' identities, allowing complete transparency in the process and ensuring customer and business safety.
What is Online Document Verification?
Document verification solutions authenticate identification documents and ensure they match governmental data or the user's live image, so-called liveness detection. The software compares the facial characteristics of the document to prove the user's identity. Moreover, it also checks the ID's authenticity by scanning the document's features (such as markings, watermarks, fonts, etc.)
The process is divided into three parts:
- Scan the front and back of the government-approved ID card
- Upload a live photo or selfie to confirm the user's identity
- Scan the comparison validation points of the uploaded document
- Verify the document by comparing it with the given selfie
Two-step verification can be also done to further authenticate the user:
- Send an OTP to the registered contact number
- Ask the user to verify any blurred-out section (for example, address)
Benefits of Using an Online Identity Verification Solution
ID verification offers numerous benefits for businesses. A few of them are:
1. Enhanced Customer Experience
Customer satisfaction is one of the primary priorities of any business. Online document verification helps reduce the waiting time; customers enjoy quicker checkout procedures. The streamlined online solutions establish authenticity and can handle multiple documents instantly. By investing in customer-centric online document verification software, you can witness exponential growth in customer experience.
2. Theft and Fraud Prevention
Document verification is a powerful tool for preventing the business from any fraudulent activities. It effectively detects any discrepancies in the document and verifies the same with the uploaded live image or government database. The software identifies suspicious behavior due to its additional security layers. This ensures a safe and secure online environment and automates most of the process for faster results. An ID verification tool is suitable for businesses and customers, as it offers a sense of security and builds trust.
3. Quick and Secure Process
If convenience, accessibility, and customer satisfaction are your goals, then online document verification software is for you! All this can be achieved as the software ensures the process is quick without losing the customer's document security. The most interesting part of the process is that customers can verify their identities conveniently from anywhere with just a few simple steps. This saves time, and customers can quickly make their purchases without standing in long queues as they have been verified in advance.
4. Government Compliant
As business operations keep increasing, there are chances of human error while verifying the documents. Due to this, the company may end up in a legal problem and pay penalties or even lose the license. An online document verification software is compliant-friendly and prevents data breaches. Implementing such software gives the business a competitive edge while maintaining data privacy.
Challenges in Manual Identification Verification
Manually checking IDs leaves businesses open to risk, and it can prove time-intensive for high volume businesses. A few of the key challenges include:
1. Time-Consuming
Manual ID verification can be an extremely laborious and time-consuming process. Employees must verify each document, ensure they are not forged or fake, and represent the customer's identity.
Now imagine this scenario with 20+ customers waiting in the checkout line. This will create havoc; you may even lose a few customers due to the long waiting time. This is the damage traditional ID verification method does; hence, it should be limited to only companies that serve a lower volume of customers.
2. Room for Human Error
Humans tend to make mistakes, especially while multi-tasking, but AI is trained to spots errors per the pre-defined commands. Human error can increase by ten folds if there is a crowd. The process of artificial intelligence is quick, error-free, and accurate.
Another problem with manual verification is that the employees require training and a keen eye. Moreover, with staff changes, it becomes difficult to start from scratch.
3. Needs 24/7 Surveillance
Gone are those days of paper documents, and offices having to ensure the safety of the documents. Manual verification can take time and effort. It also involves additional costs and resources. There is a constant need to watch over document storage to prevent theft.
4. Higher Costs
Manual online verification has become increasingly popular over the years due to its convenience and ease of access. However, it comes with a price in terms of costs and space. The time and effort required to verify data manually can quickly add up and increase business costs. Additionally, storing physical records and paperwork can take up valuable office space, creating clutter and potentially hindering productivity.
5. Theft and Data Loss
Manual online verification is not immune to data loss or theft. Power outages, floods, and earthquakes can cause manual verification systems to fail, and confidential information can get stolen during robberies. How can you protect a customer's identity during such unforeseen circumstances? The manual identification process is vulnerable, and thus, companies must implement an automated verification system to guard against such unpredictable events and protect their customers' sensitive data.
Industries That Benefit the Most from ID Verification Software
Online identity software can be useful for a variety of companies. However, the industries that the benefit most are:
1. Liquor and Alcohol
In the liquor industry, implementing online document verification brings numerous benefits. It helps ensure age verification, prevents sales to underage customers, streamlines the process, reduces manual checks, and increases business efficiency. Online ID verification also aids in regulatory compliance, protecting businesses from penalties and reputational damage.
2. Tobacco
The tobacco industry can leverage the ID verification solution toward its benefits. As tobacco is an age-restricted product, minors cannot purchase tobacco goods. Thus, this software verifies the customer's age and ensures compliance with legal age restrictions. By automating the verification process, it saves time and resources. It also reduces the risk of selling tobacco products to minors. Ultimately, it safeguards business operations and promotes responsible sales.
3. Travel
There are thousands of people accessing airport premises at one time. It becomes increasingly challenging to scan every person, especially when there are long queues. ID verification expedites passenger verification, reducing wait times and enhancing operational efficiency. Furthermore, it improves security measures and prevents unauthorized access. This software provides a seamless and convenient travel experience and optimizes airport security.
4. Banking and Finance
Banking institutions have long relied on paper documentation. However, that's starting to change, especially after COVID-19. One significant change was the transition from physical checks to digital verification. This transition came with numerous benefits, such as secure and efficient customer onboarding, saving time, eliminating the need for in-person visits, reducing fraud, and protecting against identity theft.
Online Identity Verification is the Future
The importance of online document verification cannot be overstated. Companies need an effective system to ensure secure access to sensitive data and protect the business and its customers against malicious actors.
ID verification provides a suite of convenience features and security assurances for many industries. It is also a great way to validate user identity authentication at login or during transactions that require personal information such as usernames, passwords, credit card numbers, or social security numbers. With the right combination of online document verification methods, businesses can continue providing secure access control for their most sensitive data.
