Biometric Recognition – Ultimate Protection of Businesses From Identity Theft
A Biometric security system offers absolute safety from imposter clients and businesses during the client onboarding phase and afterward for a consistent period with great precision. The testimony of veteran entities of different industries proves the credibility of biometric recognition.
In the business environment, the number of people using facial masks to bypass verification barriers of entities and financial institutes is increasing. Not only facial masks but there are also many other known sophisticated technologies for deceiving a business. Biometric recognition with AI-driven technology is what is needed in this delicate and crucial state.
Process of Biometric Security System
To verify biometric identity during the preliminary client onboarding practice which is known by the name (Know Your Customer) KYC, an online authentication system validates the customer by scanning the facial elements with AI-driven verification technology.
- For biometric recognition, the client uploads a live selfie with the national identity documents
- On one side, where the IDV solution authenticates the client’s credentials, location, age, and other details, the face recognition solution scans the uploaded selfie of the client and compares it with the face on images of the document
- The solution for biometric recognition in a very brief period of time narrows down the results of the KYC with a remarkable rate of perfection
Standout Features of Online Biometric Verification
Biometric recognition in a global IDV solution comes with a set of unique characteristics that sets a facilitated business apart from its rival entities. The automated technology of face recognition verifies biometric ID with a pretty large branch of substantial AI models. The enormous matrix supports the biometric recognition of clients with maximum accuracy and with the functional software’s algorithm with a self-learning element. The deep learning of online verification enables the solution to enhance the accuracy rate after every client profile check.
The IDV solutions performing biometric recognition for a particular business or financial institute with substantial information of clients from restricted data registers guarantees authentic results.
The solution for biometric recognition is completely automated and convenient to combine with the system of any organization. The installation of the face recognition software does not include making any alterations in the working system. It works seamlessly with the same accuracy and speed.
Rise of Deepfake
A smart technology created for making and delivering humorous content has been practiced for sophisticated financial violations and data breaches. Deepfake started in the ’90s was developed for imitating any individual and performing funny sketches. Later on, to deceive biometric recognition, imposters have adopted this medium. The use of facial masks is still massive but the deepfake technology is now becoming the prime tool. The solutions for online biometric verification enable entities to make the onboarding processes full-proof.
How Does Biometric Recognition Identify Deepfake?
- The liveness detector of biometric screening with a large AI matrix can observe synthetic images and videos instantly
- The analysis of minor expressions catches slight details and point out the use of engineered files if there was any
Use Cases of Biometric User Authentication
Combat False Chargebacks
Like in e-commerce, clients sometimes return a particular product to the firm with a refund request, stating that the delivered item was malfunctioned or broken already. What is most important to look for in the banking sector is to combat fraudulent chargebacks. The system for biometric recognition requests a recent selfie of the client with a particular note that confirms the date and necessary credentials. This process is also referred to as “Biometric Consent Verification”.
Prevention of Synthetic IDs
Imposters can optimize 2D or 3D facial masks or deepfake technology for making a smart cover to commit financial crimes and hacks. Often upon the scam getting noticed, a great time is spent in investigation, that period is suffering for the victimized business, loss of business due to being inactive or banned. Biometric recognition prevents the concerned business to prevent all of this in the very first stage to finish complications.
The solution for biometric recognition is responsible for a much bigger task other than streamlining a business and its protection from fraudsters. The screening technology restricts underage users in real-time so they can stay far away and be protected from certain products and services such as alcohol, online casinos, cannabis, and much more.
Biometric Recognition is something that will be optimizable forever. Every security barrier can be breached, every data can be extracted, but the online solution restricts the chances of that happening to a great extent. Biometric recognition in the corporate and financial sector has rendered remarkable protection from fraudsters and therefore a necessary integration for maintaining equilibrium.