According to recent studies 97% of US airports are predicted to integrate face verification system by the end of 2023!
With deep fake videos and identity theft on the rise FRT (Facial Recognition Technology) is evolving to keep up with tackling these crimes. Customers increasingly are concerned about the cybersecurity controls and KYC systems of a business before buying their products, services, or investing. Therefore, using Biometrics, face verifiers are entering the digital world drastically.
Understand how it works and explore the benefits it provides to companies today.
What is a face verification system?
The Face Verification System is a sophisticated tool for precisely verifying a customer’s profile by matching their image. It is a powerful tool for preventing identity theft.
In order to access data or services, a user may be required to snap a live image of oneself or to appear in front of a gadget. This is supported by autonomous AI software that collects the person’s biometrics and facial traits and compares them to the information stored in regional or global databases. In other terms, it is a method for verifying and matching identities.
This solution has helped banks and other companies transition to digital services, simplifying the onboarding process for customers.
A good face-verification tool should be precise, quick, and thorough in spotting spoof attacks.
What Industries Need Face verification?
The notion that face verification is only used by Banks is a wrong one. Numerous companies and industries relies on a verification system. These can be:
- Insurance companies (Health insurance or travel insurance)
- Crypto (Digital currency trading)
- Government Offices
- Virtual Universities (Online Admissions)
- Fintech Industries
- Hospitals (Healthcare)
AI In Selfie Verification
AI includes two steps in its operation. The first step is to confirm your identification by comparing your photo to that on your ID card. Moreover, the text from the ID card is transformed into readable words by Optical character recognition (OCR) in order to store data. AI checks and confirms the identity automatically. A video-based selfie verification is the second step. The customer is invited to film a short video of themselves, no more than three seconds. Then, using liveness detection, AI tools examine this to make sure it is life.
Qualities Of An Effective Face Verifier
There are various companies that claim their Face verifier as the best. As sales greatly depend on customer satisfaction, having an accurate and quick tool is a consumer’s need. Any delay or lag in the system can make them switch to another brand. Many businesses out there guarantee banks and other fintech industries high-quality services. Every verification module has both, points of strengths and weaknesses in its security system. Because of this, choosing a face verification service that is trustworthy and fulfills its promises is crucial.
Some characteristics of a successful verification system include:
- Accurate
- Automated
- Highly-Developed AI Algorithm
- Quick and immediate verification with precise detection alerts
- Effective filtering of High-Risk Profiles
- Easy Browsing or Easy to navigate UI/UX
- Proficient In Filtering Spoof Attacks
- Upgrades With Technological Advancements (It is crucial to select services from a business that consistently works to improve its face verification system because identity thieves and online criminals also change over time.)
Face verification services for the onboarding process (Execution)
According to a report, almost 7 out of 10 governments utilize FRT (Face Recognition Technology) in their processes!
Face verification is frequently used during onboarding to confirm that the applicant for a service or product is who they say they are as part of a larger identity verification procedure. This can aid in preventing fraud and preserving the onboarding process’ security. Basic face verification services will include these steps:
- Individuals may be required to submit a live video or photo of their face together with a photo of their ID in order to complete face verification.
- The system then compares the unique features of the face to the reference image using a variety of approaches, such as facial landmark detection.
- Live detection helps AI to confirm that the video is original.
- Age and gender estimation is also integrated to validate the provided data.
- The identity verification procedure is judged successful if the two photos are a match, and the person can proceed with the onboarding process.
Tech Tid Bit: Is FaceBook DeepFace FRT?
Yes! It is a deep learning recognition tool built by Facebook. It identifies individuals from the uploaded digital images. Did you know that it is said to be the largest facial recognition dataset that exists globally?
With more time it is only getting more accurate.
Key Takeaways
- Face verification system is a combination of biometrics and AI, it is a tool that establishes and verifies a customer’s identity.
- Various industries require FRT today like insurance, crypto, and healthcare industries.
- An effective tool should be accurate, fast, and automated.
- It is a process that involves the verification of a recorded video or a live picture.
