Facial Recognition System – Ideal Solution to Protect Business Frauds
In the digital world, using technology the fraudsters are becoming powerful and are misusing the innovation to manipulate the systems as well as scamming the individual entities. The fraudster is pretty much able to trick any kind of verification system. But with AI technology biometric facial verification systems are in the market which is being widely adopted in many corporations which collectively generated revenue of $4.84 billion in the year 2020. These systems are counted as the most intelligent technology which assists the digital platforms in their customer verification processes before getting them on board as well as to fulfill the regulatory compliance to avoid fraudulent activities.
What is Facial Biometric Verification Technology?
Biometric technology is referred to as the most advanced AI-powered verification system which has the capability of mapping the human facial characters into the digital form. Face recognition technology is well equipped to identify the features of the face but also provides the gateway of authenticating the facial characteristics. By using AI techniques, this verification solution validates the users’ identity flawlessly.
Reasons Behind Facial Biometric Recognition Success
Verifying the customers manually was a tough job and such procedures were quite vulnerable. A list of personal information and huge piles of documents were obtained in order to validate the identities required hours or even days to get customers verified. Moreover, due to human intervention, there was always room for errors. On another hand, keeping records of verification and maintaining the customers’ information was another challenge.
Thus, now with the automated solution, the digital business doesn’t face the delayed operation or any situation like system downtime. Using the facial biometric verification solution the manually done processes are now fully automated and intend to verify the customers within seconds and with minimal possibilities of errors. This also reduces the transparency between the business and customers and also maximizes the customer experience.
Determining The Bad Actors
The fraudster who tends to acquire someone else’s identity does not miss any opportunity to steal the identity of the legit users. By gaining access to someone’s identity the fraudsters use them to manipulate the system as well as scamming the individual customers. The fraudster, assuming to be smart enough, tries to trick out the facial verification systems by using the 3D printed masks, etc, proving themselves the legit identity holders to the system. Thus, face verification technology is quite effective to eliminate such risks.
Even the criminals are becoming pro in manipulating the system by using deep fake attacks, edited images, etc. but the AI technology has enhanced the facial biometric to easily determine such suspicious activities. The innovative facial verification systems analyze the faces’ characteristics and create imprints. Then the imprints are matched with the suspicious identities placed in the databases which help out to take down the spook attacks. Thus the bad actors are caught without any doubt.
Utmost Security And Easy Integration
Nowadays the businesses are in search of easy solutions with utmost security measures. Facial verification aligns perfectly with the business requirements, yet provides the topmost security as well as customer’s easiness. Most online businesses integrate facial biometric verification services into their identity authenticating systems with the help of APIs. this automatically lits the security measure of the company. Hence the corporation doesn’t worry or doesn’t need to develop its own solutions to prevent identity theft. By simply employing the existing AI-powered solution in their own security system saves the cost of the companies and also promises accurate results.
Seamless and Touchless Customer Onboarding
Today, due to the Covid-19 outbreak social distancing is becoming new norms, thus touchless solutions of verifying the customers are need of the hour. Facial biometric verification solution fulfills today’s demand and assists the know your customer(KYC) procedures to seamlessly onboard businesses customers. Facial biometric recognition solutions can do their job through smartphone cameras or laptops webcams without needing the physical presence of the customer onsite. It’s capable of verifying the customers’ identities in the blink of an eye. With this solution, the customers feel safe from the risk of getting germs as there was a major chance to prone covid using fingerprint verification solution.
Nowadays, digital businesses are under the impact of identity fraud which is affecting the businesses as well as the user experience. Therefore, the Facial Recognition System builts the defense line for the business in combating identity theft. This solution is well equipped to determine any type of fraudulent activities such as face spoofing, wearing 3D masks, print or photoshopped images etc intended to trick the facial verification solution. AI algorithms work with high accuracy to determine such suspicious activities.