Identity verification is nowadays becoming a big concern day by day. Market leaders of their sectors are spending a huge chunk of their money in this sector to gain their customer’s belief in their company.
The identity verification market is expected to grow more than three times in the next ten years. Currently, the market value of the identity verification industry rests at $ 4.93 billion in 2017 and is expected to cross the $ 18 billion mark in 2017. Many new ways are being devised using AI and machine learning to solve the problem of identity duplication and eradicate this problem from its stem. So here is a list of ways to help you understand the ways of identity verification and which way is suitable for your product.
Here are some ways to verify your customer’s identity:
ID Document Verification
This method is one of the fastest methods to verify the identity of a person from any document. Advanced AI nowadays is capable of recognizing documents by type and country. Amazing, isn’t it? This method involves a series of technical checks to detect frauds and any irregularity in the document, and verifying of all the information is up to the mark.
This is probably the most advanced method to verify your customer’s identity. This method is dependent on the use of machine learning and biometric data to scan faces, run in-depth analysis, and verify customer’s identities automatically. This market stands at a total evaluation of 3.2 billion U.S. dollars in 2019. And don’t worry about the security factor of this method as it is almost impossible to break through this test. Moreover, AI nowadays can even detect spoofing, montage, and every other type of fraud in a wink of an eye. You can learn more about this process on https://www.idenfy.com/
Well, this method was used previously in banks and every other institution (and apparently nowadays too). Albeit this method is one of the most secure methods, but it is physically impossible for the human workforce to scan through millions of photographs on a daily basis. But discarding this method completely is something which we should definitely avoid. Instead of discarding this method, we can combine it with Facial Recognition to add an extra layer of security to the facial recognition method.
3D Liveness Detection
This method is recently being used in many forums to check the use of digital images, but not limited to it. It generally includes detection of digital images, 2D pictures, high and low-resolution videos, deep fakes, paper, Hollywood, and silicone masks. It can also detect sleeping or closed eyes, wax figures, real-life dolls, animations, and even 3D-manufactured projections or heads.
Using old and redundant ways to verify your customers will cost you in the long term. Having a good identity verification system for your company or product translates into reliability which in turn will definitely boost up your sales or increase the customer database. If you are looking for a good company that can provide you these services at an extremely affordable price, then visit, https://www.idenfy.com/