Biometric authentication processes provide reliable solutions to determine the identities of individuals. Businesses use biometric face ID check service to acknowledge the identities of clients in registration, account opening, and onboarding processes.
It enables firms to verify their clients’ identities in real-time. Organizations can use a photo or video of the face to carry out this process, it helps to identify and validate the person’s identification. Many organizations use selfies as well regarding the identity verification process.
As per the report, market revenue is forecasted to rise more than 125% in 2030 as compared with 2020. It provides digital, automated, and reliable solutions that also help organizations comply with Know Your Customer (KYC) strategies. This blog post will explore the role of face ID check solutions regarding identity theft prevention.
Face ID Check And Identity Theft
Face ID Check
Face ID check is one of the biometric solutions that helps organizations verify their clients’ identities. It uses Artificial Intelligence (AI) and machine learning mechanisms. This cutting-edge technology of AI and ML helps organizations to have automatic biometric solutions and enhance their workflow.
Automatic technology reduces human efforts and provides a seamless identity verification process. Facial recognition technology in the form of face ID checks is not only helpful from a security view but it facilitates companies to monitor attendance and ensure KYC and Anti-money laundering (AML) compliance. Face recognition technology is connected with regulatory compliance, business security, and enhanced workflow with automation.
Many imposters use stolen data and personal information of people to behave legally. This act of taking someone else’s data or sensitive information and using it for personal means is known as identity theft. Many criminals use stolen IDs and try to reach companies on board to perform various illegal activities such as money laundering and terrorist financing. The number of identity theft cases has reached from 3.43 to 5.74 million U.S. dollars from years 2019-2021. Companies require a reliable solution to overcome the risk of identity theft such as a face ID check or biometric facial recognition.
How Does The Process Of Face ID Check Help to Prevent Identity Theft?
Companies use the process of biometric face ID checks to identify their clients’ identities. The process of face ID checking provides the major two types of processing that help organizations overpower the risk of identity theft. Following are the two processes that enable organizations to overcome future complexities with face ID verification services;
Photo ID Verification
Many companies ask their clients to upload face photos and process them digitally. Face scanners automatically detect uploaded images and process them with AI and ML algorithms. Face scanner creates models of subjects analyzed and stores them in electronic databases. Various automatic cross-matches verify the photo data with digital government databases and identify the authenticity of the client. Automatic detectors in face scanners process comprehensive analysis of facial geometry in the presented face and convert all the facial expressions into digital face prints.
Biometrics are the unique physiological features that may include voice, eyes, facial impressions, DNA, fingerprints, and iris. Many behavioral traits such as nose size, lip motion, keystrokes, and eye movements are used for various biometric verification services. The process of face ID checks enables firms to verify their clients’ facial data and verify their identities. Facial recognition may include the depth of the eyes, the contour of the face, the length of the nose bone, the distance between eyes, skin texture, and eye color. Biometric verification helps organizations eliminate the risk of fraud, identity theft, and spoofing attacks.
3 Perks Of Face Recognition Technology For Businesses
- Face ID check solution empowers organizations with KYC and AML compliance to avoid legal complexities. A face scanner is used to create a model of facial data and store it for further several time verification. It eliminates the need for security passwords and reduces frictional processes.
- It provides business associations a protection to eliminate financial fraud and identity theft. Moreover, the process of face ID checks enhances clients’ onboarding process with a seamless and automatic identity verification solution.
- Automatic face verification technology reduces lengthy verification processes and enables firms to have business scalability.
Biometric facial recognition technology determines a client’s identity with AI and ML algorithms and provides reliable solutions. It is an automated process and eliminates lengthy identity verification procedures. Face ID check empowers organizations with protection against fraudster attempts who use fake and spoofed images. Additionally, it enables organizations to have improved regulatory compliance such as KYC and AML strategies. Moreover, the process of face ID verification overpowers fraud, financial terrorism, money laundering, transaction breaches, and corruption.