Document Verification Systems
The scale of ongoing identity fraud or theft is massive. Individuals and networks are stealing more and more identities every second. Therefore, businesses cannot simply rely on traditional methods of document verification.
Most private and public entities do not have a resident ID fraud expert. Without one, the best way to prevent fraud is to have access to an advanced document verification system and an up-to-date database at your fingertips.
Document verification technology is taking a leading role in identifying forged ID documents. Traditionally, businesses had to rely on certain signals to trust or verify a new user on a device. These signals included things like their IP, credit score, or phone number.
In our current digital world, such signals are susceptible to fraudsters. And without a document verification system, it is likely you have already been breached.
Reasons to Invest in a Document Verification System
They are Accurate
Document verification uses a copy of an ID document captured on a scanner, device app, or the original document. The system analyzes the embedded security features and images. Then it compares them to data already captured by the OCR. Sometimes, the system uses both global and national databases to determine whether the document submitted is genuine.
They are Very Fast
Public and private organizations scan millions of documents every month. Therefore, speed is important. Document verification software can process documents and produce results in seconds. Therefore, it can be ready when needed.
They Maintain Consistency
Document verification technology allows for more consistent and wider scrutiny of documents. This is almost impossible to do manually. Most employees do not have the skills and experience to spot all kinds of fake documents. With a document verification system in place, employee expertise is no longer critical.
The system will instantly determine whether an ID document is genuine, and there will be no question of bias. Document verification systems check all documents in a consistent and non-discriminatory manner. With manual validation, on the other hand, there will always be a risk of human prejudice.
Other benefits of document verification systems include:
- They help to prevent non-compliance, which can lead to fines.
- They are affordable in the long-term.
- They simplify the user experience.
- They help to reduce operational costs.
With a document verification system, users can scan a photo ID from a smartphone or any other device before verifying that it is genuine. When you combine this technology with biometric verification, you will get a seamless way to validate an account to the real identity of an individual.