Coronavirus outbreak brought the busy cities to a halt and people were advised to limit contact with things in public places but certain places such as stations, pharmacies, grocery stores, airports, security agencies, banks, etc. could not be closed fully. And they also have certain customer due diligence requirements which couldn’t be ignored. But performing touchless identification of the customers through ID verification services seems to be the only solution for this problem. Because these services can perform touchless verifications.
Due diligence is generally performed with the help of identity documents, such as ID card, driving license, etc. but these documents pass through several hands and might be the carriers of COVID-19 virus. So touchless identification mechanisms are the need of the hour.
The good news? Where mice play it, cats are still on the front line of this war-so automated ID verification systems like Authenteq are on the front line. Authenteq’s method to incorporate the citizen into the authentication process is to shield you and me from criminals using our stolen identity documents to conduct frauds on our behalf in a world where government identity documents are purchased and sold on the dark web.
The second thing that nobody has ever told you about automated identity checks is that it is the most reliable way to counter identity fraud where the real individual will be involved.
What are touchless ID verification services
Touchless ID verification is performed through a SaaS product generally provided by identity verification companies. These solutions can be integrated with the website, web portal or app of a business entity.
No employee or KYC expert is required to perform these verifications. The customer is guided through automatically generated instructions. And the verification results are shown to the customer in real-time.
Benefits of digital ID verification
Given the emergency, the need for touchless identity verification is important. Below are the benefits of digital identification.
Sometimes in-person interaction with the customers is necessary, for example in banks, and airports. These verification measures are crucial as fraudsters, money launderers and terrorist financiers target these industries for illegal activities.
Video KYC and AML solutions can verify the people in real-time where a KYC expert verifies a person through a live video call. This solution integrates with the system and the customer is verified without any touch.
Video KYC is a substitute for in-person identification and will provide banking-grade security. It allows businesses to interact with their customers in real-time without any personal interaction with them.
These solutions can be integrated easily with web portals, websites, and apps. And the integration is quite easy. Simple API of identity verification is to be integrated which takes a few minutes.
The industries just need to integrate the API and the rest is conducted online through artificial intelligence.
Fast and easy
Online ID verification services are quite fast in the verification of people. Generally, it takes a few seconds to verify a person so there is no chance of crowding the space with people waiting to get verified.
It is easy for people to verify themselves. They just have to show their face and ID card to the system or upload a selfie through their mobile phones. It doesn’t need any training to maintain the efficiency of the solution.
These solutions can be used around the globe and can verify identity documents of several countries. So the businesses and government institutions can utilize it in every corner of the world. Although not every service provider has the ability to perform global verifications so choosing a solution with global coverage will be feasible for all types of entities.
To wrap up, coronavirus is a pandemic and going touchless is the need of the hour. But the technological transformations are also demanding economies to move towards total automation. The virus might subside after some time hopefully but will leave an impact on the minds of the people.
People will be demanding more user-friendly KYC and AML screening mechanisms. So now is the high time to move towards total automation and to enhance user verification processes through online ID verification services that can provide banking-grade verifications in real-time.
Want a corporate or personal bank account to open? Compliance with KYC will place a true burden on operations, with average needs of 24 days. If this is not enough, certain banks will not exchange the details about the KYC between internal departments and demands for the same documents are replicated!
But bored consumers are searching for stuff, with intelligent KYC’s applications, such as Authenteq, being able to do ID checking, with AML, Sanctions and Adverse Media tests, assured within just 60seconds.
Third, it is more than a luxury for bank clients that no one ever told you about the digital identity search.
- ID Verification Services are Going Touchless Because of Coronavirus - March 24, 2020