Modern-day systems perform the selfie verification method to verify the identity of online customers. This way of authenticating clients provides an effective solution to problems like identity theft, scamming, and money laundering. The selfie verification method uses biometric facial recognition technology to identify faces in the least amount of time. The face verification market is growing each day with most companies adopting it as their first step in verifying new clients. According to Statista reports, the facial recognition market share is boosting at a great pace. In 2021 the market revenue was recorded at $5 billion. These numbers are estimated to touch the $13 billion mark by 2027.
Facial Recognition Technology
Conceptualized back in the 1920s, after which the process of facial recognition technology was greatly improved. With new additions in face-based biometrics, the authentication method is enhanced with multiple aspects. The facial verification technique uses human faces as a subject to detect and identify unique characteristics. Different industries use this method of evaluating human facial metrics for several purposes. The process effectively gathers data such as nose placement, eyeball positioning, jawline structure, face depth, and geometry. Face verification technology uniquely identifies all these characteristics.
Benefits Of Facial Recognition
The selfie verification technique is effective for most industries as it provides a fast and secure method of authentication. Most organizations in the world adopt it to provide easy authentication services. There are a number of benefits of facial recognition verification. Some of the advantages are described in this blog.
Elimination Of Fraud
The selfie verification technique can help in reducing fraud. The fraudsters are effectively marked out from the system as the process involves biometric recognition. The restriction of scammers from any system prevents fraud. The selfie verification technique is secure for most online face verification for clients thus creating a secure interactive environment for the new customers. The risks of money laundering from the systems can be reduced by incorporating the technology.
Enhance Sign In Process
The method of selfie verification secures the sign-in process at every session. Faces are used to authenticate the customers into the systems. This way of logging in minimizes the manual password typing chores with an automated and fast solution. By incorporating biometrics the sign-in process is also more secure. Just scan the face from a detecting device and the system automatically verifies it within seconds.
Enroll Clients For Two-Step Verification
The selfie verification method also backs up the two-step verification technique. Most systems use facial recognition as an extra layer of security. It is an additional check for their clients. The use of selfies as multi-step verification ensures clients’ security with organizational verification, every time they try to interact from any outside environment. This authentication procedure helps secure customer profiles by minimizing hacking attempts.
This method of verification also enhances the ongoing operation of Know Your Customer (KYC) compliance. As per KYC laws, the customers are monitored on the basis of their facial data. By authenticating users with face recognition technology attackers’ interactions are also restricted. The system verifies the client’s time by time to ensure the right person is accessing organizational resources.
Fast Authentication Procedure
The method of selfie verification produces quick results as the updated facial recognition technology verifies the subject within seconds. The firms that incorporate face verification solutions greatly increase their productivity and decrease the time for processing verification checks. Most organizations use selfie verification to verify their customers online.
Physical contact was limited all around the world during the period of the pandemic. The organizations were looking for touchless solutions for different purposes. The face verification method played an integral part in regulating the verification process for most businesses. To identify clients face detection devices are deployed. The scanning process was also completely touchless with quick outcomes. The face verification system is still operational even after the pandemic with most firms using it as their core identifier in most processes.
Most sectors worldwide have adopted the client face verification technique. Health institutions, corporate offices, private firms, government operations, and security agencies utilize this technology. The face verification technology is secure for most customers as this technique involves identification via biometrics. As most online platforms are also adding this technique to verify their clients remotely the recognition method is getting improved. The selfie verification method works by analyzing customers’ self-images to verify their identities. This operation provides a fast way to authenticate with the system.