Video Verification | A Process of Real-Time Authentication

Today’s digital environment has led businesses to use advanced identity verification services to prevent fraudulent entities from accessing the company’s legitimate services. These services ensure protection from such entities by incorporating enhanced video verification solutions that comply with KYC regulations. Also, the video KYC solutions use biometric facial identification services to effectively validate the customer’s identity. According to a report, facial identity checks are expected to gain a market share of $8.44 billion by 2030 due to its seamless verification approach. This is an extensively growing industry due to the inclusion of groundbreaking biometric technology.

KYC through Video Call – Compliance Made Easy with Video KYC

Video verification validates the customer’s identity through online video call services, enabling authentication to be carried out remotely. This process involves biometric services that detect the customer’s facial features and textures through deep learning and artificial intelligence tools. Video verification is a KYC-compliant service that ensures secure customer verification and streamlines their onboarding process. Video KYC is revolutionizing digital identity verification solutions due to the incorporation of 3D liveness detection and facial recognition services.

Additionally, video KYC is a dynamic process that begins with the customers connecting with the verification server through an online link. Customers are required to submit their identity documents through online platforms. Also, the underlying documents are extracted and authenticated through OCR service and deep learning solutions, which compare them to the official information stored in the government’s national directories. Then, the customers join a video call link where they introduce themselves to a verification examiner who compares their facial characteristics and skin textures with the submitted documents.

Video KYC uses active and passive analysis to prompt customers to make facial movements to authenticate their validity. It checks the customer’s skin textures and depth perception in the background, allowing them to differentiate between a fake and a legitimate entity. Also, this facial assessment is used against official watchlists to detect the customer’s risk profiles.

Video KYC Verification – 4 Important Identity Authentication Modules

Video verification can be carried out in 4 different ways, depending on the location from which authentication services are being acquired. These four modules are:

Regional Verification: This module allows customers to select the KYC verification examiner’s nationality, language, and region, allowing customers to interact with them easily. This is convenient for all business types and enhances the customer experience.

International Verification: The international customers can select a foreign KYC examiner with whom they can easily connect and engage with. Also, it mitigates the language barriers and verification challenges as well.

Self-Selected Verification: This provides an entirely customized screening process where businesses can choose their own KYC experts to conduct real-time identity screening.

Automated AI-Based Verification: This is an automated module in which verification is carried out through artificial intelligence support. It utilizes OCR services to screen the documents in real-time and increasing the onboarding speed.

V-KYC – An Enhanced Real-Time Verification Mechanism

Video KYC promotes contactless verification as customers are not required to physically visit the institutions. It enhances anti-spoofing techniques as illicit documents are eliminated during the authentication process. Video verification streamlines the customer onboarding process as the data is extracted and detected in real time through OCR screening and facial liveness detection. The customers must provide proof of address and income, and their IP addresses must be validated through end-to-end encryption to enhance their security.

Video KYC Vendors – Automating the Verification Among Various Industries

KYC vendors provide services to various industries to streamline their business operations and functionalities. The most prominent industry is the banking and fintech sector, where video KYC solutions promote secure customer onboarding to minimize fraudulent entities from opening a bank account. This service can streamline the telecommunication sector by verifying their SIM cards and IP addresses. Video KYC providers can optimize real estate services by validating the tenant’s identity to promote secure rental agreements. The e-commerce industry can automate online customer verification through video KYC to prevent chargebacks and false positive risks.

KYC Video Verified – An Authentic Fraud Prevention Service

Video verification solutions allow examiners to detect synthetic identities by incorporating advanced facial recognition services. This service effectively detects deepfakes because biometric verification analyzes the customer’s face scans and retina movements. Online face ID checks and liveness detection eliminate fraudulent identities during registration. As they do not proceed with the account opening process. It prevents illicit entities from committing money laundering and related crimes.

Summing It Up

Video verification is an authentic identity validation service that uses online video call platforms to authenticate the customer’s identity. It detects the customer’s distinct facial features and skin textures and compares them with the official documents. Also, it simplifies the identity verification process as customers can select their own KYC examiners based on their preferences. Video KYC can be utilized in various industries to streamline their business operations. It helps them eliminate fraudulent and synthetic identities from accessing the business services. It ensures real-time data extraction and verification, providing a smooth onboarding process for customers.