Do you ever wonder since when the first identity document was prepared? The history of identity documents dates back to the 15th century when King Henry V introduced the first form of a passport. After 1783, the US passport was the first to be printed and to this day, it’s one of the 10 most powerful passports.
Over several years, countries developed new forms of identity documents that are used to prove someone’s age, identity, or permit them rights to ride a vehicle. In a few years, as technology evolved so did the modern ID documents. Currently, some countries have incorporated biometric technology into the identity documents that act as virtual documents or electronic ID’s.
Nowadays setting the true identity apart from a false identity is vital to businesses around the globe. As people move to the digital landscape, the threats and risks attached to it are getting more real with each passing day. Adapting to the document verification is essential to deter fraud attempts and avoid any pervasive risks while onboarding customers.
Yet relying on old methods of manual verification is coming with more than few risks. Customer identification is costly and more time consuming that often leads to human bias and inaccuracies with the verification process. Moreover, people who have to wait for their decision on verification ultimately create friction in the consumer journey and reduce the potential revenue.
Top 5 Uses of Artificial Intelligence for Document Authentication
An AI-powered document verification examines different features of ID documents to verify the customers. The software ensures to make some these few checks.
The document verification tool can scan and verify documents against different document types. It’s quite useful while making an exact match with the document.
Verifying MRZ Code
AI-powered document verification tools evaluate different fields to know if they have been edited or tampered with while verifying the MRZ code. After authenticating the document, the software decodes the MRZ code and matches it with information on the document.
Detecting Fold Edges
As documents are still prepared using the paper, they can start to wear and tear. Document verification tools check the authenticity of the document by checking if the document has crumpled or folded edges.
Government-issued documents have micro prints that act as an additional layer of security for preventing any fraud attempts.
AI-powered online document verification has become necessary and mandatory for organizations to prevent security breaches. Further, it also provides a frictionless experience to the consumers that could maximize the user experience. Document verification solutions help organizations to comply with regulations and fight against criminal activities.
Online Document Verification Process in Ecommerce
AI-powered online document verification is integrated into the organization’s frameworks. When a customer initially lands on the e-commerce platform and purchases an item, they are often asked to provide proof of their identity. The user shows their identity documents, the camera takes a picture of the image on the document and compares it with the real picture of that person. The OCR system integrated with the AI-powered online document verification tool scans the document and helps the system to validate the information on submitted documents.
The information provided by the user is validated by an online document verification tool and the results are compiled and delivered. If the data matches exactly with the given information, the customer is effectively onboarded and in case it doesn’t match, the client will not be onboard.
The AI-based document verification tool is checked if the documents are photoshopped, tampered with, or altered in any way. The solution automatically captures any errors if there’s an occurrence of false or forged documents.
Avoiding Identity Fraud With Document Verification
Most banks or other financial institutions require users to submit their government-issued Identity documents that are verified AI-powered document verification tools. The solution automatically compares the users provided information with the one on their identity document. It minimizes the risk of identity theft and anyone who tries to access someone’s account gets immediately restricted.
It works in the favor of most businesses that require authentication of remote users. But fraudsters don’t intend to lose against the system and for this reason, they have created various ways to bypass online document verification. With new features integrated into the online document verification tool, the thieves can have a hard time fighting back the system.
Thieves usually steal documents from someone and use them to bypass document verification. But the system checks any false documentation and immediately turns down the verification process.
Nowadays, government-issued ID documents are incorporated with holograms, rainbow prints, or other elements.
Fraudsters act smart by preparing documents that are closely similar to the original documents and try fooling the document verification system. As humans are not yet capable of recognizing any alterations in the document. But through the document verification system, instantly captures any fraudulent attempts by tampering with the documents.