ID Fraud

Verifying Identification to Identity Fraud: Why We Should Trust AI in 2020

Thanks to AI, companies are becoming better at identifying fraud risks. How did Artificial Intelligence assist in this process? One way is that AI technology has helped perfect biometrics used as identification.

In other words, while in the past, companies were forced to trust IDs and other paper sources of identification, now companies can use biometrics to ensure a customer is who he says he is. IDs can be forged, but faces can’t. Birth certificates can be replicated, but fingerprints can’t. And just try to complete a fraudulent activity when an account is protected with a retina scan.

Biometric uses such things as fingerprints, retina or iris recognition, voice detection, and facial recognition to help identify people. Since we all have unique biological characteristics, this technology has become the standard for confirming a person’s identity. 

Biometric authentication is currently used to replace regular logins, which we all know can be easily hacked or stolen.

If you enable your customers to make high-risk transactions or decisions online, using biometric authentication ensures that the person making those decisions has proper authorization. We all know that logins and passwords can be hacked. We know that criminals can purchase our personal data on the dark web. 

But biometric authentication is much more secure. It cannot be hacked. And our biometric data can be kept on a customer’s device rather than on a server. 

Plus, using biometric data as a form of authentication is much more convenient for the user. Users will be able to throw away those lists of passwords and PINs. Logging into an account won’t take as long, and this means that customers will have a more satisfying experience working with a company.


What are the advantages of using such authentication in your business?

You know that your customers are who they say they are.

Here’s how the process works. First, your customer’s ID is scanned. AI technology can tell if the ID is authentic or not. 

Next, the customer is asked to take a selfie. This photo is then matched to the one that is on the government-issued ID. 

Once an image is captured, a 3D Facemap is created. This face map confirms that the person behind the camera is a living being instead of a picture of a person. The map has 100 more data points than a 2D photo.

Once background checks are performed, your company is more likely to allow the customer to open an account with confidence.

Once the account is opened, the user can use his or her image to become active in the account. The user only has to take two additional selfies. This account set-up/authentication process just takes less than a minute to complete. 

Your customers are becoming used to biometric identification.

Some users are leary when new security technology is used. Rightfully so, customers don’t want to share their personal information with businesses. 

But thanks to Apple, a new generation of users are becoming used to face-based biometrics. They have become so used to the FACE ID method of authentication on their iPhones that many become annoyed when it doesn’t work correctly. We like it when Apple’s infrared FACE ID system allows us to purchase items on eBay without remembering our password or enable us to access our PayPal account without struggling with the login.

Biometric Identification reduces fraud.

Finally, using biometric data as a form of identification reduces fraud. Reducing fraud helps society as a whole. 

If each customer is required to use biometric data to confirm ID, criminals will be less likely to open fraudulent accounts. The criminals wouldn’t want to capture an image of themselves participating in criminal behavior. Doing so would make it easier than ever for them to be caught.

Instead, accounts are becoming more secure, which means that fraud rates are decreasing. This makes your company executives happy, and it makes customers happy. 


What are the uses of biometric authentication?

We already discussed how face IDs could replace usernames and passwords of traditional online accounts, but how else can the technology be used? 

Facial IDs can be used to unlock car doors. The technology can also be used to check-in for a flight or into a hotel. Test-taking can be more secure than ever before because proctors don’t have to rely on their ability to confirm a test-taker’s ID.

Every once in a while, a new technology comes along that makes life better for everyone. Biometric ID makes it easier to be an online consumer. It makes it easier to price shop for the best mortgage rates. It makes it easier to stop fraudulent activity. It makes it easier for customers to interact with their accounts. 

Biometric identification makes it easier to interact in the digital world.


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