For applications that need to tie their services to a user’s identity, accurate verification is essential. However, due to the remote nature of this process, many cybercriminals have discovered increasingly innovative falsification methods. Obviously, this results in difficulties & sometimes even legal ramifications & fines for companies which, by law, need accuracy & identity veracity.
With more & more digitalization of both business & personal transactions, the need for accurate identity verification has become increasingly prevalent. Generally, it’s agreed that methods to sidestep “known” falsification attempts need to become more sophisticated to obviate criminal behavior.
Usually, verification takes the form of scanning an identity document & comparing it to either a video or picture of the person concerned. However, according to ubble, a new verification platform, this method is fraught with possible scamming loopholes.
Ubble claims that banks alone pay upwards of US $40 billion annually in fines due to the failure in obtaining accurate identity verification. Also, it estimates that there were 9million identity thefts & that 6.6% of Internet users experience identity fraud annually. These are disturbing figures to say the least.
On the brighter side, however, ubble has come up with an identity verification method which they believe is foolproof. Their system engages the assistance of AI & video, not only of the person concerned, but also, of the associated identity document.
If Online verification platforms work with an image of the identity document, glare & reflection makes it easier for criminals to photoshop-in undetectable alterations. A video, however, eliminates glare, & Ubble can then use both hologram & AI to verify the end user’s video to match the results, accurately, with the document provided. To quote Ubble:
The risk of partially extracting data(from an image) is eradicated due to a selection of over 20 images per second captured(from a video)(with) 0% chance to fail thanks to real time guidance & instant feedback.
– ubble
Additionally, ubble suggests that their “user-friendly” method results in a verification failure of only 3%, compared to the 30% failure of other platforms experience when using an image of the identity document, rather than a video.
Ubble believes that it is currently, the only company offering this “unique & innovative” method of verification, & that it is fail-safe for reliant businesses, which will ultimately save consumers time & money, usually the most important factors to gain user traction.
Image credit: ubble
