Electronic video authentication for real-time authentication

The authentication process is an integral part of many business functions and organizations. It works to verify the user and prevent fraudsters from using the company’s resources for illegal means. The authentication process follows the KYC and AML laws for complete protection against crimes such as identity theft, money laundering and trafficking. The addition of online interactions within business processes, especially after the COVID-19 period, is causing problems. As online platforms are not fully protected, digital KYC Solutions are implemented. Electronic video authentication is an important part of the KYC web process. Helps to evaluate the user virtually without any physical involvement.

The need for video authentication

Cybercrime is growing rapidly, according to CNBC News, people in the US suffered more than $ 56 billion in 2021 falling victim to identity theft attacks. In addition, it reports the estimated increase in identity theft according to statistics in the coming years, which is said to increase by about 45%. This rapid development in the issue of identity theft is forcing every industry to rebuild its security systems with new tools and technologies. Implementing live video chat verification is a prerequisite for real-time user authentication. With video authentication, users are fully evaluated and the risk of non-user authentication is minimized.

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Video authentication involves a number of procedures and is a technique that works with the user’s video authentication. In this process the organizing call agent includes, verifies the user by interacting and communicating with the person in real time.

KYC video process

The KYC video process consists of several steps for user authentication. The user registers electronically with the verification application and then the KYC online procedure is performed. It starts after the user submits all his / her identity information to the system, which may include the user’s personal information, such as name, age, gender and identification image. After submitting the user information from the online forms, the system redirects the user to the KYC video process.

Web conferencing

Video calling connects the customer and the organizing agent for real-time authentication. At this stage, the organizing agent verifies the face and then the user is approved with face recognition technology immediately.

Online document verification

The next step in video verification involves verifying the documents that the user uploads to the web software. These documents are then verified in the live video call, the user must provide all these uploaded documents to the agent to verify the integrity of the documents. The KYC online process uses the user’s legal documents, such as IDs, passports and licenses to verify the user.

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Validation of user ID

The identity of the user is verified by processing all the data provided by the user, the system uses systems powered by AI to verify documents and other image data. Upon completion of the verification, the system identifies the user as verified and the agency agent proceeds with the further integration process.

How Video KYC improves the verification process

The traditional KYC process is a lengthy verification method and involves a number of tests and evaluations that must be performed manually. Without these checks, the process is not complete and user authentication is not possible. The manual method is a tedious and very time consuming process. It may take up to days to complete only one phase of the process, for example, document verification. Apart from this, the manual method can have errors and problems. Since the manual verification method does not include the new forgery detection and modification methods. Intruders have many ways to trick an agent into gaining access to the system.

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On the other hand, the introduction of online KYC also known as e-KYC has significantly increased the success rate of the authentication process. By recognizing video in this way, intruders can not damage the system, as the user must respond to the agent in real time.

Using electronic verification tools, the user is also verified by biometric verification tools through its features and characteristics, which also ensure integrity. With a KYC video solution, the number of attacks and modification attempts becomes smaller in large numbers.

Wrapping it

In addition, the KYC video The method is a very good way of evaluating users. It includes an organizational factor that interacts with the user in real time. The. verifies their integrity by requesting multiple proofs of identity. Documents are also effectively verified with the KYC video process. Thus, with the KYC video method. Computer systems also help verify user identity with authentication technologies provided by artificial intelligence.

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