With the role that technology plays as an integral part of an average human being’s life, digitalization grows increasingly common. It becomes a necessary step for businesses to stay in the competitive financial world. But with digitalization come risks to security in the form of cybercrime that puts both companies and customers in peril, making the need for security as a top priority. And with recent events around the world, going contactless seems to be the way to go.
The state of security methods today
The process of going through a security check has always been performed with much care and extensive measures to assure guaranteed protection from being compromised by a hacker and thief. This makes practices such as complex passwords and keeping multiple accounts highly common that often cause inconveniences such as needing to reset passwords in case one is forgotten. A person can grow annoyed by this hectic process if it occurs more often than usual.
Meanwhile, businesses aim to provide more ways to improve customer experience by incorporating new ways to make accounts to use their services a much easier process. But the lack of focusing on authenticating their user base makes them prone to facing dangers such as allowing scammers and identity thieves to use their services without going through authentication checks that cost both businesses and customers money by falling for their tactics.
With cybercriminals having an arsenal of methods to obtain a victim’s data for their misusage through identity verification, the question is raised as to what kind of security check would prove most useful to prove the identity of a person while making the process seamless to avoid annoying customers with hectic procedures? What type of technology exists that allows both reliable security and smooth experience?
The rise of face verification solutions
Technology has come a long way where biometric verification is available to the common man within their smartphone. Fingerprint technology exists in many forms, whether on phones or ATMs. But with recent events making a person fear touching surfaces that many people touch, making use of fingerprint verification in public places might not be a good option in this current situation. Face verification, however, is growing more popular as a convenient method of identity verification where the user’s device cameras and sensors are capable of making highly accurate and speedy authentications. This form of stringent security checking may be the answer to the troubles businesses face which leads them to adopt this kind of technology to fortify their safety and improve customer experience
Face verification grows in becoming the primary method of logging into devices, accounts, and gaining access at offices due to technologies such as liveness detection and depth-sensing that make the process flawless just as fingerprint authentication. This method slowly makes the need for passwords as redundant since it is impossible to steal a person’s face, nor can the system be fooled using a picture or a mask to mimic a person’s look.
Businesses and financial institutions look to utilize online face verification during crucial procedures such as opening an account or making a purchase. With verifying a person’s face, fraud and its possibility can be eliminated, ultimately making a cybercriminal’s attempt at identity theft futile, which further reduces crimes such as account takeover and credit card fraud. Making authentication checks via face verification helps customers and businesses remain secure against fraud and theft as criminals cannot fake identities due to liveness detection and depth-sensing.
Ultimately, face verification solutions become the answer to providing high-level security and smooth experience both at the same time. It boosts businesses by providing better customer service with robust security that is not hectic at all. And with the technology existing in a common man’s smartphone. It steadily becomes the main way of verifying identity to access accounts or make purchases without any risk.