Technological innovation has facilitated the growth of modern-day industries but it has also enabled fraudsters to commit sophisticated crimes. This motivates experts to implement the latest digital solutions such as online face verification. Cutting-edge technology has several benefits, enabling organisations to secure a competitive advantage and strengthen customer relationships. This way, companies can also boost yearly profit rates and easily achieve business milestones.
Online Face Verification Services: A Quick Insight
Facial recognition technology screens the biological features of the customers using the latest computational models and processes massive volumes of data. This is a foolproof approach towards fraud prevention and ensuring a positive client experience.
According to Modor Intelligence, the global online face verification market size will show a CAGR of 21.9% for the forecast period of 2018-2028.
As per the report, the US government plans to reshape airport checkpoints with the help of facial recognition technology. Moreover, multiple North American Free Trade Agreement (NAFTA) member banks have mandated using facial verification systems for ID validation in real time. Corporations have also collaborated with federal governments to implement innovative digital solutions to improve surveillance and identity management procedures.
The innovation in neural networks, big data and Graphical Processing Units (GPUs) has facilitated the widespread application of facial verification systems. For example, apparel retailers are using advanced technology to provide personalised products to clients worldwide.
Famous 5 Use Cases of Online Face Verification Solutions
Face verification technology has the power to streamline customer identification and authentication procedures. The widespread use of biometrics empowers users to benefit from digital solutions reliably and conveniently.
Nowadays, several public and private organisations are opting for online face verification to offer unbeatable security to clients. Innovative technology ensures that only accredited entities can access sensitive data and restricted locations. Face recognition online technology has versatile applications in modern-day industries, from smartphone access locks to securing public events.
The following sections discuss the top 5 applications of online face verification solutions in present-day corporations:
1. Providing Effective Access Control
In modern digital times, biometrics has helped customers forgo the passwords & PINs approach. Implementing online face verification services fulfils access control project needs & enhances security levels. The innovative biometric systems identify clients’ facial features to allow entry into restricted facilities and grant access to necessary equipment.
Organisations can easily secure sensitive data from external attacks. Modern-day tech giants are already using face recognition technology in products to facilitate customers. For instance, Apple uses FaceID in iPhone or IPad Pro.
2. Supporting Instant Identification of Criminals
Face verification systems can help law enforcement agencies to identify criminals and start investigations timely. AI-backed cameras can help agents to catch perpetrators and discourage suspicious activities actively.
The police forces in the USA use online face validation technology to maintain a biometric data repository of all criminals.
3. Streamlining Attendance Monitoring Systems
The application of facial validation technology can secure school premises and also keep track of entities. This way, the education sector can forgo paper-based approaches that are time-consuming & cumbersome.
In the USA, schools are already using biometrics to mark the attendance of students. The innovative systems screen pupils’ facial features and cross-check information against a pre-existing database to authenticate identities.
4. Securing Financial Transactions
In the age of the fourth industrial revolution, customers want a hassle-free, secure and reliable approach to monetary payments. For this reason, Alibaba and other e-commerce platforms use online face verification to offer a positive experience for users.
Cutting-edge technology facilitates customer ID validation by screening facial features and securing monetary transactions. This way, companies can ensure users’ reliability, convenience and speed.
China has used facial validation technology in local KFC chains to modernise customer payment.
5. Ensuring Safety in Public Events
Advanced biometrics such as online face verification technology can safeguard public events from internal & external attacks. For instance, security personnel can easily monitor people in stadiums and musical concerts. This way, police can easily identify unauthorised parties. The advanced approach also eliminates the need for outdated ticketing systems.
Facial recognition technology can easily process large volumes of data and discourage bad actors from bypassing the security mechanism.
Concluding Thoughts
The application of online face verification solutions can help modern-day industries to offer a hassle-free onboarding experience to customers. The AI-driven systems offer a foolproof approach to discourage spoof attacks while generating high-quality results in real time. The innovative technology can also cross-check customers’ data against global watchlists to identify & discourage high-risk entities from exploiting clients’ sensitive data.
Cutting-edge technology has AI & ML algorithm support that facilitates compliance with the latest KYC & AML regulatory obligations. This way, companies can save time and capital to invest in other business projects. Hence, the application of online face verification solutions becomes inevitable
