Identity matters in today’s remote world. With data breaches and identity theft on the rise, businesses need to verify that people are who they say they are online. But trying to mitigate risk with manual or inadequate customer identification checks is both costly and time-consuming, resulting in the potential for inaccurate verification results and increased fraud losses. In addition, lengthy verification processes requiring offline steps cause customer friction, ultimately hurting your customer acquisition efforts – and your bottom line.

How Identity Document Verification Works

ID document verification plays an essential role in new account opening and maintenance, user onboarding, financing, insurance claims, and digital agreement processes. The goal is to capture, extract, and analyze ID data to authenticate government-issued identity documents. ID verification uses artificial intelligence (AI), machine learning, and authenticity algorithms to analyze an image of an ID document, and compares a “selfie” of the end-user with the portrait on the ID document.

Using the built-in camera on your mobile device, identity documents can be authenticated in real time and within seconds. For the consumer, the experience is quick and simple. For financial services providers, the technology speeds up account opening, lending, and financing, while protecting against fraud and reducing abandonment rates.

The Benefits of Biometric Verification

Simple verification of an identity document is not sufficient when it comes to creating a trusted online identity profile. Biometric verification provides an additional layer of trust via a live selfie that is then compared to the image presented in the identity document. Advanced algorithms extract biometric data from the image and compare it to the image on the authenticated ID document to determine whether the user is genuine. The biometric engine has certified anti-spoofing and advanced liveness detection. Blinking detection with random combinations of head movements or a smile ensures that the person is genuinely present and that a static image, mask, or video has not been used fraudulently. The solution also detects the quality, brightness, and blurriness of the image. Passive liveness detection is achieved with image analysis algorithms, which check elements of the image captured, such as glare or blur. Active and passive methods can be used together to prove the liveness of the individual capturing the selfie. The biometric engine produces an authenticity score to determine if the identity document is fraudulent or genuine. The acceptance rate can be adjusted and set based on the level of customer trust.

Why OneSpan Identity Verification?

Financial institutions must follow stringent procedures to verify customer identities. OneSpan Identity Verification provides a multi-layered approach that aligns with recommended standards for customer verification. Its “one-to-many” integration approach results in higher pass rates and enables failover if an identity check fails or is unavailable. This, in turn, eliminates the need for manual intervention, and reduces customer abandonment.

Earn Consumer Trust 

Organizations that fail to earn the trust of consumers risk losing that business. Unfortunately, inadequate ID verification services are often easily exploited by fraudsters, and erode consumer trust.

That’s why you need multi-layered identity and risk-based authentication solutions that can tell the difference between a customer and a bad actor, from account origination to ongoing maintenance – and every transaction in between.

Key Features

• Identity Document Verification: Checks that the ID (e.g., driver’s license, passport, government ID) is legitimate
• Biometric Verification: Uses selfies to establish that the person presenting the ID is the same individual whose portrait appears on the ID
• Liveness Detection: Determines whether a selfie is genuine by detecting spoofing attacks like masks, or photos of photos
• AI-powered Analytics: Accurately verify documents across the globe by harnessing the power of AI – including computer vision, machine learning, and deep learning algorithms designed to detect fraudulent IDs
• Frictionless Name Matching: Minimize name match failures due to special characters, maiden/married names, and sub-optimal OCR (Optical Character Recognition), while at the same time ensuring that the person presenting the identity document is in fact the right person
• One-time Passcode (OTP) Verification: Transmits a single- use passcode via SMS or email to the applicant during the verification/signing process

The OneSpan Difference

• Easily integrates identity verification processes within the company’s infrastructure through automated digital agreement workflows
• Allows a continuous and seamless user experience combined with robust security
• Ensures uninterrupted processes in the event of latency or downtime
• Ensures trust across the transaction through white labeling— strengthening customer loyalty and boosting the visibility of your brand
• Captures consent with built-in e-signature capabilities
• Brings additional security to the identity verification process by introducing an authentication mechanism at the consent signing stage
• Facilitates secure video-based assistance for completion of digital agreements with customers in real time
• Strengthens enforceability by recording evidence throughout the workflow and providing a single integrated audit trail tied to the entire transaction
• Covers more than 4000 document types across 280 countries and territories