Every sector requires the validity of entities during registration, account opening, and boarding process. Identity verification is a major concern to acknowledge the legitimacy of individuals everywhere. Many organizations that lack the ID verification process suffer from criminal attacks, corruption, and terrorism. ID verification is a major focus to protect firms from unauthorized users. Organizations may use database checks, document validation, and biometric authentication processes to know the identity of clients. Nowadays, organizations are moving toward a digital landscape for all business processes such as client registration, onboarding, buying, selling, meetings, etc. They require reliable solutions to verify individuals before having them on board. This blog post will explore electronic identity verification and its role in enhancing organizational security and work processing.
What is Electronic Identity Verification?
Electronic ID verification is a digital process of verifying clients before account opening and onboarding. The digital ID verification process utilizes automated checks to acknowledge authenticity. Electronic verification of identity is conducted remotely through automated digital means. EIDV is a systematic way of identifying clients to overcome fraud attacks and financial terrorism. Imposters use machine learning techniques to generate fake ID documents and use them for illicit means.
EIDV process utilizes artificial intelligence mechanics that detect any kind of variation and provide reliable ID verification results. Organizations collect various documents from individuals to check specific information. These documents may include identity cards, passports, utility bills, or driving licenses. The EIDV process may include other kinds of verifications such as face ID checks, liveness detection, and database validation. The EIDV solution is designed to protect firms from fraudsters who use forged, fake, and tempered documents.
What Is the Difference Between EIDV and IDV?
EIDV and IDV both processes are used to verify individuals to overcome fraud attacks. EIDV solutions are digital ones and use automated AI and ML algorithms. It allows firms to have remote client onboarding and verification processes. While IDV is a manual way of identifying customers. It requires multiple human beings to perform ID validation. The IDV process is more prone to error as human beings may commit mistakes due to heavy workloads and fatigue. On the other hand, the EIDV process provides more accurate results through AI and ML automated algorithms. Many institutes offer e ID which requires digital solutions for processing and verification.
The EIDV process employs certain tools such as digital ID, biometric identity checks, and facial recognition. Companies using EIDV solutions provide their users with digital ID verification solutions. Clients do not need to travel for ID verification but they can simply upload scanned documents and use webcams for ID validation. However, in IDV, users are required to travel and appear for manual verification lengthy processes.
Methods Of EIDV Process
The electronic identification process enables firms to have automated solutions and cloud-based storage. The EIDV process helps firms to regulatory compliance and protection against fraud attacks. Organizations using different EIDV methods as;
ID Document Verification
Companies may use scanned images of various ID documents such as identity cards, passports, and driving licenses to validate IDs. The EIDV process performs verification of these documents through pre-trained algorithms and enables firms to filter out real entities. Additionally, it provides automated solutions to reduce human efforts and promote hassle-free onboarding and registration processes. Digital checks fetch data from the documents and process it digitally.
Face ID Check
A face ID check or face verification process utilizes human facial geometry and verifies identity. Organizations use face scanners as EIDV solutions and enhance their security compliance against prevailing fraud attacks. Individuals can submit selfies or undergo a real-time face verification process. Facial geometry is captured, algorithms convert data into digital fingerprints, and validate entities for business security. Imposters use various techniques to generate spoofed images and deep fakes. Facial scanners comprise deep learning mechanisms that can detect variation and unveil fraudsters.
Database Verification
Global e identity verification may include database verification to validate customer identities. Organizations are linked with private and government databases. Information obtained from clients is compared with the database digitally through automated cross-matches and clients’ identities are validated. It enables firms to have access to various records such as mugshots and protect themselves from fraud attacks.
Final Words
EIDV solution enables organizations to have digital solutions for clients’ ID verification. Electronic identity verification methods enable firms to eliminate manual lengthy processes and have automated ones. It does not only enhance business security but offers hassle-free onboarding and registration processes. Electronic ID verification is the major concern of today’s enterprises. It allows remote clients on board and automated work operations. Electronic client verification improves organizational scalability and provides an opportunity to have an enhanced user experience.