Top 8 Benefits of Face Verification Solutions In the Digital Era

With technological advancements, fraudsters are becoming more intelligent than ever before. They are not hesitating to use illegal tactics to profit from the businesses. This concerns that companies are looking for solutions that provide greater security. Thus, face verification solutions came to the rescue. Moreover, the facial recognition market is registering a CAGR of 16.0%, with a market value of $16.74 billion by 2030 from $3.83 billion in 2020.

Face recognition technology searches for and analyses patterns based on the user’s facial features to identify and validate an individual.

The Demand for Face Verification Solutions

The necessity to stop internet fraud attempts has grown significantly. As a result, businesses must follow the regulations that state they must gain knowledge of their clients. According to KYC requirements, companies must verify their users to know that they are who they say they are.

Online face verification solutions need clients’ to provide data and a picture from their identity card to function. It examines the image’s authenticity using microexpression analysis to determine whether it is an actual photograph or a screen capture. After that, it compares the photo to the picture on the ID card to confirm the person’s identity. The system will alert the business to the possibility of a scan if the photographs do not match.

What are the Benefits of Face Verification Solutions?

The following are the benefits of facial recognition technology:

• Consolidated Security Checks

Increased safety and security are significant advantages of facial recognition technology. Systems that recognise faces have been a standard feature of major airports for a while now. Moreover, 97% of US airports are expected to implement FRT by the end of 2023. They are assisting in identifying criminals and possible risks to both airlines and passengers. Thus, financial institutions and other organisations use this technology to identify and detain people who have previously been legally charged.

• Improved Employees’ Login System

One of the most prevalent breaches of workplace ethics worldwide is time fraud. There is no question that the majority of staff are loyal. A small percentage of employees use favours from friends, coworkers, or security personnel to avoid work and still collect their pay.

The capability of face recognition technology to lessen time theft is one of its advantages. Throughout this time, everyone who logs in to work must undergo a biometric face verification. This process is speedy because employees do not have to use their identity cards to verify their IDs at any point.

• Identifying Theft and Scam

Business owners employ a face identification system and security cameras to recognise convicted or suspected criminals when they enter their places. The concept of using preventive surveillance to discourage theft is just great. Individuals are unlikely to commit crimes if they know someone is monitoring them. Hence, this technology often acts as a protective measure.

• Automated Medical Procedures

The capability of facial recognition systems to identify genetic anomalies is a great benefit. Selfie verification algorithms may be able to locate the specific congenital disabilities that led to a disorder by examining minute features of the face. Compared to this technique, traditional testing was much more complicated and expensive.

• Reduced Touchpoints

Other checks like palm prints and iris scans require a more diverse workforce than face liveness verification. Additionally, it doesn’t require direct interpersonal interaction or physical contact. Rather, the procedure uses an AI to eliminate any hassles. Moreover, 7 in 10 adults think facial recognition can accurately identify people of all races and ethnicities. Further, it reduces the number of touchpoints at airports where people must make physical contact to unlock the door, get cash from the ATM, or complete other entry checks.

• Finding Missing Children

For law enforcement authorities, facial recognition helps find missing people, especially children. A facial detection method can aid in identifying an individual who has disappeared for some time. When used with software, the technique anticipates a child’s appearance in a few years.

• Enhanced Shopping Experience

Companies using a face verification solution with payment terminals get excellent customer evaluations. Technology for facial recognition can recognise their face while they add items to their cart without using payment cards.

• Improved Photo Organisation

Facial recognition technology can categorise images stored on smartphones. This makes searching for, organising, and sharing photos much more accessible. For recommending tags on Facebook, this feature is beneficial.

To Sum It Up

Fast processing times and a lack of human involvement are the two pillars around which face verification technology bases all its advantages. Individuals are no longer required to remember passwords or develop further difficulties associated with outdated identity authentication techniques. Instead of making individuals wait in line for a very long time, organisations can authenticate people using a face verification solution.