KYC documents check the legitimacy of the papers of the user to make sure that they are not involved in illegal acts. These papers include the identity card, bank statement, utility bills, and residential address proof. The rising trend of data breaches has enhanced the importance of the biometric solution. In 2022, Poland registered 25.6 thousand cases of phishing. It is necessary to integrate biometric solutions to control these issues. It also aids in compliance with the latest rules of the government.
Why Document Check is Necessary?
- Document verification services aid in the onboarding of the clients; the scanner verifies the client’s identity and records their entire data. The increasing cyber crimes have made it essential for businesses to interact with legal clients. If the company has onboarded the wrong client, then they have to face data breach issues, and also they have to bear penalties. Other than this, the client retention rate can be enhanced through it, and these solutions contain the whole user data. This information is utilized to target the desired audience and provide them with services accordingly.
- In this digital era, most customers choose the brand by reading their reviews. If the existing users are satisfied with the organization, they will give good comments about the company; in this way, new users will be attracted to the company. It is an indirect marketing source, as it will aid in increasing the company’s customers.
Steps Involved in ID Document Check
The following are the steps involved in the verification of the papers:
-
Submission of Data
The users must give their data in the soft form; the documents include the identity card, bank statement and residential address proof.
-
Evaluation
The system evaluates that the customer has given the authentic papers; they ensure the client has provided all the necessary information. The scanner ensures the picture is clear and visible; any photoshopped or fake image is rejected.
-
Verification
The system compares the data with the priorly stored information; this is done to check the authenticity of the user.
-
Result
The last step shows the result; if a comparison gives the same result, then it means that the customer is accurate, and then a green flag will be shown. Other than this, if the red flag is displayed, then it means that the user is involved in a mysterious activity.
Real-Time Use Cases to Verify Documents
-
Identify Theft
The biometric solution saves the whole data of the customers, and it checks the source of income of the individuals. The scanner detects every activity of the client, and the police immediately respond to any kind of suspicious activity. The companies can allow verified employees to enter the office; in this way, they can increase the surveillance of the areas in which they are integrated.
-
Office Operations
The solution is used to record the attendance of the client and their check-in and check-out activity. The traditional ways were hectic as the employees had to perform the documentation of the individuals manually. The conventional ways were prone to error and unreliable; ID document check has simplified the daily activities of the employees and lessened their burden.
-
Age Verification
The companies have to install the biometrics so that they can verify the age of the user and then grant them access. Certain websites contain content which is not suitable for minors, such as alcohol. The government has made it necessary for the retailer to allow only above 18 individuals to visit the website. Therefore, biometric solutions can be integrated to resolve such issues.
-
Build the Trust of Customers
The organization can build the users’ trust by fulfilling their demands. The core value of the companies is to satisfy their clients, and this will aid in increasing the revenue of the organization. The biometric solution senses the client’s feelings, and they can understand whether they like or dislike the product. In this way, they can design the product or services accordingly.
Conclusion
KYC documents verify the user’s identity and allow only authentic individuals to interact with the company. The organizations must ensure that they are onboarding legal users and if the business has registered any unauthentic customer, such users can cause loss to the company. For businesses that use biometric solutions, a considerable rise in their revenue is observed. Because they are compliant with the latest government rules and they are monitoring the activity of their customers. The client trust is built when the users’ data is in safe hands. The satisfied customers suggest the company to other people; in this way, the company can increase their profit.
