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Identity theft is one of the primary problems that many enterprises are facing around the globe. Different companies and organizations choose different methods to fight against scammers that make fake identities for different types of illicit activities. The identity document verification is a process that is used to check the authenticity of an end-user. Document verification is a safe method to quickly assess the eligibility of a user. It also helps in reducing document scams and money laundering. The annual market for identity document verification is around 8.9 billion dollars and it is increasing day by day because of the introduction of new technology for document verification.
Types of Documents That Need Verification:
Most of the documents that a person submits are attested by legal authorities as a part of identity document verification. To guarantee the correct identification of a person, different authorities around the globe require different types of papers. The papers that need verification are:
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Identity Card:
The first identity document that needs verification is a person’s identity card. All organizations around the globe perform this as the first step. This check is very important in making sure that the end-user is real and not some fraudster posing as someone else.
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Utility Bills:
The utility bills are the type of documents that are also used for identification. These bills help in making sure that the address and payments are being possessed by the client.
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Bank Statements:
The bank statements and other financial documents also help in verifying the eligibility of the source. Many companies and organizations require banking records before they process any kind of transaction with another person.
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Medical and Health Records:
Medical records can also be used for the identification of a client. Through health records, companies can collect a lot of information regarding the type of a client.
Process of ID Document Authentication:
The process of identity document verification has three different stages: detection, assessment, and identification. In this process, the client is asked to provide all the documents issued by the legal authorities that prove the identity of the client. Passport, Driving license, and identity card are a few examples. The identity document authentication comprises these steps listed below:
Presentation of Documents:
In the first step, the user is required to submit legal documents to the authorities for the process of verification. The documents are and must be legal documents issued by the government for legal purposes.
Scanning of Documents:
The documents that the user provides are scanned with the help of a scanner. The scanner can be a traditional scanner or a phone scanner. The step is completed after all the legal documents and papers are scanned.
Identification of Documents:
With the help of AI and OCR, the documents are identified. Through different angles and mechanisms, the documents are observed and their eligibility is also monitored. If the documents are authentic that means the person who is submitting the documents is also authentic.
Verification of Documents:
The system verifies the documents further by reading the texts inside the files and it makes sure that the provided data matches the data extracted from the files.
Online Way of Document Verification:
Many systems use an online approach to verify different documents. It is a process by which organizations can verify the documents of new clients before the onboarding process. In the online identity document verification, the device that is mainly used for the scanning process is a mobile camera or a webcam. The documents are converted into digital copies and are sent over a network connection to the online verification system.
The online system uses different types of algorithms to check the authenticity of the documents. The documents are matched with the user information at the end to verify and match the data. AI is used to perform this task online. Through automated checks and assessments the documents are checked.
Advantages of Document Authentication:
Easy to use:
The online document authentication process is easy because most of the software is based on artificial intelligence. It ensures the working by automating several phases of document verification.
Fast Processing:
Online identity document verification is a very fast process as compared to the manual method of document verification. This process involves fast interaction with data which reduces the time it takes to authenticate documents.
Conclusion:
The identity document verification process ensures the real identity of a client. Most industries use this to identify the customer’s data. With the use of technology in our daily lives, the document authentication process is playing a major role in stopping criminals and bad actors. The AI solution used is a quick technique for recognizing and processing documents. It uses several algorithms to evaluate data from different documents such as ID cards, bills, and financial statements.
