Presently, companies and clients are faced with the continuous threat of cyberattacks and identity scams.  Due to respect, companies are always on the move with using intelligent safety systems to shield their client’s identities and fight identity scams. To assist in fighting these situations, document verification is one such advancement that is working miracles in the business world. 

Performing IDV of users through government-approved identity documents is usually termed the document verification process. The document verification process can either be done remotely over a digital channel or physically where the customer has to take part in physical client onboarding. Document verification comes with 2 advantages:

1. It enables companies to comply with regulatory requirements such as KYC measures and AML laws that are vital to reduce monetary crime. 
2. It ensures that client enjoy a secure, solid, and smooth experience while onboarding

Breeze Through Identity Verification

Document verification comes with a robust and efficient mechanism to conduct identity-based checks in real-time. This is usually helpful when a company requires to enroll users and start relations with them. 

The document verification process initiates with the client onboarding an image of an original ID document approved by the government that has their picture in it. All the client requires to do is simply scan the identity document through their phone or laptop’s webcam and the rest of the method is taken charge of by the software. 

Once the ID document is uploaded, the document verification software verifies for the legitimacy of the submitted evidence. For instance, if the document authentication system is sophisticated, it might come with the characteristic of humankind audits that can check for any possible mistakes by the software. The results are shared with the customer and their client once the software ensures the authentication procedure is done and all information associated with the document and client identity is cross-checked.

Document Verification Advantages 

Smooth Procedure

The present document verification process gives clients the convenience to submit their ID documents at the ease of their houses. This enables companies to authenticate the identity of their possible clients before they relate the company relationship with the company. The procedure does not acquire any technical expertise of how the process operates. The client only requires to take an image using their smartphone or present it in front of a front camera of the software to capture data. 

Efficient Operations 

Therefore clients bringing their ID documents on the company's premises and engaging in a time-taking and cumbersome onboarding procedure, do all this in a subject of a few seconds regardless of where they are present at the time. A document verification process answers the issue of clients waiting to get enrolled into a bank. It also assists companies to streamline their everyday operations while keeping intact user experience. 

Identity Scam? No Chance

A Global Fraud Study states that there was a 14% increase in identity document scams whereas driving licenses went up by 4% in 2020. This made a major rise in an identity-associated scam that is a great problem for companies as well as their users. Document validation solutions can resolve this issue by taking down such circumstances in the first place. Because client documents underwent document checks that look for possible tampering, alterations, and missing characteristics, it becomes increasingly challenging for criminals and fraudsters to get away with falsely developed and ill-obtained ID documents, eventually giving protection against identity scams. 

Key Takeaways

Developing comfort for clients is one significant substance that companies need to comprehend while giving services. Clients nowadays prefer companies that give them ease and solid solutions that best align with their interests and desires. When it comes to client onboarding, what can be more desirable than opening an account from your house?

Document attestation service enables companies to onboard clients through a solid and secure channel in real-time. Presently, documentation verification is influenced by AI that is more intelligent and effective than human verification professionals. Nowadays, ensure criminals are not able to bypass the system and companies can conduct their tasks with assurance.