Top Features of Face Verification through which Companies can Enhance Their Revenue
By installing face verification, businesses and individuals can safeguard their interests, enhance their security, and smoothen their day-to-day activities.
Technological advancement has created ease for mankind and simplified daily activities. But the dark side of technology is that the credentials of the individuals are now not safe, and companies are at the risk of fraud. The digital system has made it easy for hackers to steal clients’ data.As everyone needs to learn the technicalities and complications of this online system, they unknowingly give the scammers access to their system. The hackers are very advanced; they steal all their data after getting admittance to the customer account.Besides, they take their identity and commit illegal activities using client’s names and account numbers. In 2022, 1136 online banking fraud cases were reported in Japan, mainly caused by phishing incidents; facial verification comes to rescue businesses from all such scams.
What is Face Verification?
Digital technology used to verify the face of the individual is known as face verification; the authenticity of the individual is measured through it. This solution enhances the companies’ security, allowing only verified clients to access the user account. Spoof attacks and deep fakes can be reduced and controlled through it, as it checks the customers’ liveness. Advanced AI and facial recognition machine learning tools are used to ensure the validity of the client.
KYC Face Verification Process
Face verification solutions work on the principle of artificial intelligence, converting the client’s image into numerical-based templates. These guides are matched with the already present data in the database; if both match, the person is verified, and further processes begin; otherwise, verification will stop and mark the person as inauthentic. Spurious persons are treated differently; if they are high-risk clients, the company takes measures to prevent themselves from any expected future loss. Face verifier also aids the company in continuously monitoring the users so that they later do not get involved in any illegal activity.
Features of Biometric Face Verification
The following are the features of the face verification system:
These solutions are so advanced that they can even detect the features of the object, like color, shape, and number. They are not only confined to verifying the characteristics of the client but even non-living things can be verified through it. Face verification can be installed in stores, malls, warehouses, and houses. These solutions can be installed everywhere, and their benefits are significant.
Enhance Customer Experience
Clients prefer companies that keep their data safe and provide a smooth user experience. When the clients’ personal information is exposed, it creates many problems for the user and company. It should be the organization’s core value to prioritize the safety of the customer’s credentials.
Convenient to Use
These solutions are so convenient that even uneducated people can use them; they just have to face the scanner. There is no need to read the lengthy user manuals; the whole process can be done without inconvenience. Enhance SecurityHackers steal the bank accounts and personal credentials of the company and client by using fake identities or presenting face masks to dodge the scanner; these scanners allow only authentic clients to bypass the particular territory.
Comply with AML and KYCAML
(Anti Money Laundering) and KYC (Know Your Customer) compliance is essential for the companies. Otherwise, they have to face heavy penalties. Online Face recognition services protect the company from forfeiture.Brand ImageCompanies’ brand image is also affected when the organization is exposed to any kind of scam. Because clients, in the long run, do not want to affiliate with such businesses because their data is not secured; they are prone to any kind of financial scam.
Difficult to Hack
Face verification services are very advanced, but sometimes hackers use new tricks to bypass the algorithms of the clients’ accounts; they present face masks of the client, taken from the internet. Sometimes, 3D images are used to dodge the scanner, but the face recognition solutions use the latest AI tools to check the liveness of the client. For this verification, the user has to send the video in which he is saying the password; the alertness of the client is detected in this way.Increase
A significant rise in the revenue of the businesses that are correctly utilizing facial recognition verification is observed. Because customer retention rate is enhanced through it, satisfied clients also refer the company to their family and friends.
Facial verification is becoming a widely used technology due to its remarkable benefits; these solutions give services in every field. From customer onboarding to monitoring, every task can be simplified and made swift through it.
AI tools and machine learning are used to make it more accurate and reliable; traditional ways are prone to human error, as operators have to perform whole tasks. Companies enhance their security and prevent their credentials from all kinds of scams. These solutions have made the functioning of the companies easier.