Why You Should Automate ID Authentication Today

In the digital environments that power many tasks today, from banking and healthcare scheduling to shopping, there is a fundamental challenge every organization must address: ID authentication. In other words, can you be sure that an individual is who they present themselves as? In theory, identity documents such as driver’s licenses, birth certificates and others should be ironclad. Unfortunately, fakes and forgeries are on the rise and growing more sophisticated.

ID fraud can be a serious problem, so organizations must dedicate time and resources to conducting due diligence to verify authenticity. This manual process keeps humans fully in the loop. However, it comes with problems: slow results, potential errors and fakes possibly too good to arouse human suspicion.

Turning to automated ID verification solutions can be very valuable for businesses. Let’s consider six prevalent reasons to explore automating this process.

Detect Fraud Faster and Earlier to Prevent Costly Incidents

Time is of the essence when fighting fraud. Manual verification is too slow in the current landscape. Automation brings speed to the battle, finding fraudulent documents within seconds or minutes instead of hours or even more. Detecting fraud sooner rather than later can help lock out fake accounts and hackers before they can do any harm. A faster process also makes it simpler to scale up to higher volumes.

Broaden the Types of Documents You Can Authenticate

Human reviewers may only be familiar with the documents most common to their experience. Paperwork from other countries and regions, which can vary significantly, may be more complex to analyze. That challenge increases the risk of a fraudulent document slipping through the cracks. Automation solves this problem when you select a solution that supports global document analysis.

Reduce Staff Hours Spent on Authentication Tasks

When your fraud teams don’t need to spend much of their workday examining documents from customers for potential signs of fraud, they can focus on more valuable tasks. Automation ensures the process continues to function at a very high level of reliability. Meanwhile, teams can zero in on other risk reduction work and compliance matters.

Boost Accuracy and Detection Rates

With machine learning and artificial intelligence, fraud detection consistently grows more advanced over time. Forgeries can be extremely subtle today; slight variances can mean the difference between a valid and an invalid document. Through automation, you can reduce false positives and increase trust in the outcome of the process while catching more of the fraud attempts that could slip by your defenses.

Improve Confidence in Regulatory Compliance

Many industries, such as the financial sector, face regulatory requirements to verify customer identities, prevent crime and stop money laundering. These vital KYC and AML procedures involve collecting and validating identity documents. Preventing mistakes in these procedures is essential while also maintaining speedy resolutions. Automation adds speed to your compliance procedures while also conferring the peace of mind that there is a highly accurate solution supporting your goals.

Offer a Smoother Customer-Facing Experience

Automation isn’t just about the back-office benefits. Speed makes a big difference in the experience of customers waiting for document validation. For example, onboarding a new customer should be smooth and seamless.

If document verification takes too long or produces a false positive for fraud, the customer experience will likely be relatively poor. In contrast, a reliable automation solution protects the business. It also ensures the customer can enjoy a prompt resolution, especially during tasks such as re-verification.

AuthenticID: A Solution for Automated Authentication

Extending a Tungsten TotalAgility workflow to include a robust identity verification solution is simple. AuthenticID offers an exceedingly versatile solution integrated into TotalAgility, achieving better than 99% accuracy when detecting ID document fraud. The power of machine learning and artificial intelligence of AuthenticID can analyze items such as passports, driver’s licenses, and other ID formats for signs of fraud or forgery. It also supports prompt real-time reverification through biometrics to provide a smooth customer experience.

Find out more about this exciting solution in the Tungsten Marketplace.

Enhance Your Organization’s Security Footing Today

Through solutions such as AuthenticID and its integrative capabilities for TotalAgility, building a faster and more reliable means to authenticate identity documents is within easy reach. With an extremely high level of accuracy right out of the box, automated solutions can save time, protect your company and customers from fraud and meet regulatory demands optimally.

Versatile ID authentication is a must-have in today’s threat environment. Automating this process is one of the best solutions in the face of rising complexity, increasing scale and bigger risks. Find out more about AuthenticID and other fraud-fighting solutions when you explore the Tungsten Marketplace today.