A guide to Digital Document Verification Process
Document verification is the process of confirming the authenticity of documents. With the increased use of the internet all over the world, as everything else is happening digitally nowadays, similarly document verification also has become digital now. There are softwares serving the customers with their digital document verification process. Digital document verification verifies the documents using the tools and software powered by Artificial Intelligence. They verify various types of identity documents. With their swift process and accurate result-driven services, they have become the best choice for a lot of merchants.
Online Document Verification Services
A digital document verification service provider provides its customers with the unique and most advanced verification approach to help enhance its end-user experience. The most significant benefit of online document verification solutions is the reduced probability of online fraud. Before the arrival of valid AI verification softwares, there used to be a huge chance of online frauds specifically targeting the personal information of people. But after the arrival of these softwares, it has become easier to differentiate between the real user and a scammer and thus the safety of the personal information of people is possible in document verification.
Importance of Identity Document Verification
Before going into the details of the document validation services, it is important to know why businesses need document verification services. It basically serves two main purposes, it prevents online frauds from happening and ensures legal compliance. The significant aspect of the verification of documents is to ensure that the person behind the process is real and so preventing the scammer from verifying the documents and thus stopping him from committing fraud. Businesses from all over the world have compliance rules such as Know Your Customer (KYC) and Anti Money Laundering (AML) to abide by.
Benefits of Online Document Verification Services
There are a lot of benefits attached to the document verification process. The ultimate goal is to provide the customers and end-users with the best possible services. Following are some of its perks:
- The first benefit that comes to mind when we talk about the verification process being done digitally is getting rid of the online fraud generally associated with it. It has a minimum risk of document fraud, spoofing attached to it.
- People doing verification online rather than going to the offices carrying their documents has reduced the time of the entire process.
- After verifying the documents online the authentication of the recurring documents becomes possible.
- The process of digital document verification is valid by providing 90%+ accuracy so producing better results.
- Online document verification service verifies the document in real-time.
- Some companies are providing the services of chip-based identity document verification through NFC technology in countries where chip-based documents are being used.
- By considering the privacy of companies dealing with highly sensitive data, the document verification service providers now facilitate their customers by installing the service on the server (a service called on-premises identity verification) so that the privacy of the end-user remains intact.
Types of documents to be verified
Almost all types of identity documents that people used to verify manually in the past can now be verified online nowadays. Document validation services can be given to documents like IDs, e-documents, passports, academic certificates, driving licenses, etc.