Biometric verification has come a long way since its first use in the 1800s, and one of the new developments has come in the form of a face verification solution. Using AI, face verification has considerable potential for providing an accurate and detailed authentication process.
Although the back-end process may be very complex, requiring analysis of numerous datasets, it’s still very convenient for the end-users. Research indicates that the face verification market value is expected to grow to 11.62 billion USD by 2026. Transactions, payments, and many other operations are now conducted online, where security is a rising concern.
The demand is increasing for AI-based technologies especially when it comes to the implementation of security systems. Face verification solution is a popular type of security protocol among both customers and businesses. With other biometric recognition systems already being used, such as fingerprints and iris scanning, face verification solution is preferred because of the ease it provides.
Obviously, verifying customer identity is the basic need for every kind of business, and usually requires customers to submit documentation and use passwords/PINs for authentication. Face verification solution just requires the user to show their face to a camera, and the embedded technology captures and verifies facial characteristics automatically.
How does It Work?
Online face verification is an automated process of capturing and analyzing facial features to successfully authenticate an individual’s identity. Machine learning algorithms in AI make the process smoother by allowing the simultaneous processing of numerous datasets. The facial features captured with facial recognition are digitized and matched with data from identity documents to verify the individual’s identity.
Keeping in mind other identity verification methods, much more efficiency can be achieved with a face verification solution as little is left to chance. Other verification solutions such as passwords and PINs are not so reliable considering the combinations and complexity required to actually create safe passwords. Using a face verification solution, the face itself is the password, and it cannot be hacked. This is what makes facial verification a widely adopted and popular technology among businesses.
Apart from businesses, financial institutions, and government offices, face verification solution also applies in social media applications like Facebook, where it detects faces and assigns tags respectively. This helps group together the photos of one individual together. Another application of facial recognition technology is in KYC (know your customer) systems for businesses. In KYC solutions, the identities of the potential customers of a business are verified in order to prevent fraud and other crimes related to stolen identities.
As a part of KYC services, face verification solution helps to verify customers’ identities by scanning their facial characteristics in detail. These services are easily integrated into digital business platforms by installing the respective APIs.
3D Depth Perception
Face verification solution includes the use of 3D depth perception, a technology that allows in-depth checking of facial features. The details including edges and contours and distance between several points of the face are measured and analyzed to determine the individual’s identity.
Liveness detection works side by side with 3D depth perception to detect the smallest of movements including blinking, smiling, and other gestures. In this way, the chances of criminals using deep fake or photoshop for verification are eliminated.
Texture analysis is the third power tool for filtering out fraudsters, as it uses deep learning algorithms to capture details of the face texture. This helps differentiate between a fake video and a real face.
Industrial Use Cases of Online Face Verification
Face verification solution helps banks, financial institutions, and insurance companies in improving their security measures. Digital platforms of these institutions are also obliged to comply with KYC regulations, and this is the reason for the implementation of face verification solution. Face verification solution helps fulfill the compliance regulations as well as preventing identity fraud in financial institutions.
E-commerce is an industry that constantly faces fraud risks. Payment frauds often occur because of unsatisfactory security systems. The loopholes in the systems can be reduced by implementing a face verification solution.
Face verification solution is also useful in the health sector, where the medical history and prescriptions of patients are sensitive documents that shouldn’t be accessed by unauthorized individuals. Face verification solution ensures that only authorized medical staff access the medical system, to prevent health hazards due to data breaches.
One of the most commonly used ways to launder money is through air travel. Fraudsters fake their identity and carry money through to various countries to make it appear legitimate. Airports are now incorporating face verification solution in order to overcome identity fraud and money laundering.
To sum it up, biometric technology and especially face verification solution have helped ease the process of customer authentication while providing an effective identity fraud detection measure. This security measure is popular among digital businesses and is trusted by customers as well.