Modern technological innovation can help business experts to fight identity theft. Globally, the cases of crime are increasing with time and more than 51% of incidents have been of identity fraud. The application of biometric face scan systems helps enterprises combat fraud cases and follow the latest KYC & AML regulations.
Facial recognition is a biometric software application capable of instantly identifying an individual by screening facial contours. The innovative systems offer unbeatable security while streamlining the onboarding experience. Biometric face scan technology is very popular in the corporate sector for its wide number of applications in the modern world.
The recent innovation in Artificial Intelligence (AI) has enabled tech companies to offer the latest face recognition solutions. Big tech companies e.g., Microsoft, Amazon, and Betaface are contributing to the growth. Hence, several startups can introduce new market applications with biometric face scanner systems.
The following points highlight various perks of facial recognition technology and how businesses can use the latest solutions to accomplish their objectives.
One of the interesting benefits of biometric face scan systems is in law enforcement departments. According to an NBC report, the security departments in the USA, LA, New York & Chicago are frequently using the latest technology to start criminal investigations.
In 2023, the US Customs & Border Protection (CBP) department wants to authenticate the identities of the majority of international passengers with biometric face scan solutions.
CBP wants to verify the non-immigrant visa holders. Moreover, the department has various checks in place to onboard genuine passengers. By using facial recognition technology, officials can easily manage big crowds and reduce cases of responsible citizens.
An interesting benefit of the biometric face scan system is instant processing of information and its contactless nature. Traditional ID verification approaches required passwords, ID cards and other necessary kyc documentation.
By using face validation solutions, corporations can easily control access to important facilities. This way, businesses can easily validate identity credentials without cheating long queues.
Fraud cases faced by banking firms are a major issue because it is a recurring problem. Biometric face scan solutions are an effective solution for the concerned issue.
Banks use complex One Time Passwords (OTP) to gain access to accounts or authenticate monetary transfers. However, there is always room for improvement. The application of biometric face scan can help professionals achieve their target.
Applying the face recognition services frees the user from remembering passwords that hackers can easily compromise. This means if hackers steal photos from a database, criminals cannot bypass the security protocols because of liveness detection features. The latest feature can easily prevent identity theft cases.
There are various benefits that go beyond online platforms. For instance, physical banks and ATMs can easily use the latest technology. This way, debit cards and signatures can easily become history.
In modern times, the majority of customers prefer shopping online but still, there are users who like to visit physical stores. For instance, experts have noticed a decline in food traffic but the value of every visit has increased to three times.
Professionals explain this phenomenon as customers plan to buy their items on online platforms and complete the process by visiting stores. The support for such an explanation also comes from increasing “near me” searches on the web.
Modern-day industries face fraud continuously, which is one of the extreme work ethics violations. There is no doubt that a big number of employees are honest and hard-working but there are few workers who function through buddy favours and even bribe security personnel to help them skip work.
Time fraud is an unethical practice which is highly detrimental to corporations but it also creates an unfair environment for ethical and hardworking workers. The application of biometric face scan can help businesses fight time fraud:
From biometrics, enhanced security, smooth banking, and shopping, the application of biometric face scan systems can revolutionise everything. This way, corporations can easily strengthen their customer relationships and boost sales.
The application of cutting-edge solutions that are GDPR & PCI DSS-compliant can help enterprises maintain their market credibility. In this way, it becomes easier for professionals to provide a positive user experience and boost profit rates. Hence, the significance of biometric face scan solutions for modern-day businesses becomes obvious.
