The world of digitization has brought convenience for all of us and the most benefit is for the fraudsters. They are finding numerous ways for their malicious intent and so, the number of crimes is remarkably increasing. Artificial intelligence is not only helping organizations in achieving customer loyalty and satisfaction, but criminals are figuring better ways for data breach, ransomware and malware attacks, phishing, identity theft, account takeover, and money laundering. Preventing these crimes is essential; therefore, identity verification is the best solution.
Identity verification through digital means is one way of dealing with fraudsters. But as said earlier, fraudsters have grasped artificial intelligence and machine learning algorithms, and spoof attacks and deep fakes are not a problem anymore. Digital KYC solutions like video KYC allow firms to verify their customers with biometric authentication. People often misperceive biometrics as fingerprint recognition only. There are many types of biometric verification with every type with a unique benefit. Read this blog to find out some famous types and persuasive benefits.
Types of Online Biometric Authentication
From behavior to facial features, biometric authentication has numerous types. You might know many of them but not as a biometric identification measure. Here are some of the common yet unknown biometric authentication types that you must know about:
Face recognition came into existence in the 1960s but gained popularity earlier this decade. It became an authentication measure in no time and now, many organizations use face recognition to verify not only customers but as an attendance marking criterion too. Sensors detect facial gestures and geometry to identify and verify. Facial recognition technology can detect the distance between your eyes, the distance between chin and forehead, and the structure of your jawbone.
If you are a science student, you must be well-aware of what the iris is, but for those who don’t know, the iris is a muscular lining around the lens of the eyes that are colored. Due to differences in the arrangement of the muscles and color, it can also be used as an online biometric identity verification measure. The pattern and color of the eyes are identified and authenticated in seconds.
Walking style may come to you as a surprise but it is also a biometric identification measure. Generally, it is used in criminal investigations, but many firms are also focused on adding it as a KYC verification measure. There are some pressure sensors that can detect glasses, the way you walk with the help of accelerators in your body.
Imitating someone’s signature sounds naughty, but it is a crime according to the law. Furthermore, many people find it a piece of cake to sign documents, but little do they know that it can be easily identified during verification, signature is a biometric authentication measure that can check for strokes and depth of the signature to verify if it’s legitimate or not.
Benefits of Online Biometric Identification
Amid these biometrics, other biometrics, like DNA matching, have numerous benefits for businesses. Some of the vital ones have been stated below.
- Adding biometric verification ensures that all customers you are onboarding are legitimate.
- You can prevent fraud from your platform.
- Identifying spoof attacks will not be an issue for you.
- Prevent identity theft and account takeover scams.
- Ensure the privacy of customer data.
- Enhance customer experience during the verification process.
- Increase the credibility of your platform with robust verification measures.
- Comply with the robust know your customer and anti-money laundering regulations of the state proficiently.
Biometric authentication is an ideal way to identify fraudsters and there are several ways of biometric verification online. From walking style to facial recognition to iris recognition, there are several ways to perform biometric identity verification checks. Using online biometric verification allows you to prevent fraud, comply with KYC/AML requirements, and build customer trust.