We live in an exciting time when Science and Technology have advanced considerably. Yet, amidst all of it, the upsurge in fraud, whether online or otherwise, is a big concern for all. No matter which industry it is, you will know that document verification is a primary requirement at any institution.
The proper document is a fundamental requirement for any business
In a time when for businesses knowing your customer is a vital need, fake documentation often is used to carry out fraud leading to massive losses. So proper document verification is a critical need for preventing fraud.
Customers dislike strict verification processes.
When it comes to making the verification process challenging, the customers often dislike the same. But, at the same time, it is necessary to compromise, which has serious risks. It can severely hamper user experience for any business. So, the process needs to be done subtly.
Artificial Intelligence (AI) can help.
The good news is artificial intelligence (AI) can go a long way to fulfilling this vital need. If you are familiar with the latest technological trends, you will know that AI has come up in a big way to make revolutionary changes in many fields. The document verification process has been no exception as well.
How does AI function in dealing with document verification?
In the case of using AI for document verification, the same is done by verifying documents using tools, all using AI software. Much in the way any human being examines an ID card, the process is similar to AI document verification. Here the software examines and confirms the document identity by matching the face of the customer with the image available on the document provided for identification.
Some of the steps involved in the process
- Here, there is an integration of the digital document verification software with the client’s business’s website, or it may be other automation systems.
- Immediately once the customer logs onto your website for the first time, they are required to upload the identity proof in an image format.
- Once the same is done, the software scans the documents using optical character recognition.
- After this, the extracted information from the image is compared and verified against the government or private databases.
- The document provided is also analyzed to see if there is any forgery and signs of tampering. The process might take a few seconds.
- Only if the documents uploaded by the customer are found genuine and not tampered with can the user sign up with the business.
- On the other hand, documents that aren’t authentic are rejected, and such customers in no way can use the services.
The steps mentioned above are some of the basic steps in the document verification process.
To sum up, we can say that the document verification process has now become a vital requirement for almost any business, and AI has come up in a big way to meet this all-important.
If your business requires the process of document verification, AI can be the ideal solution for you.
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