Banks and financial institutes have long used KYC or Know Your Customer technology as part of a bigger AML or Anti-Money Laundering regulation compliance system. Today, more businesses across a range of industries are turning to technology to provide highly accurate, real-time, user authentication.
Businesses have multiple options to choose from in user authentication software and systems. While all provide the basics to comply with KYC requirements, not all are equally effective, easy to use and provide secure and practical options to verify identities.
Ability to Scan ID Documents
As a practical consideration, user authentication software solutions need to be flexible and offer support for different types of ID requirements. Documents from various countries, or the use of passports, drivers’ licenses, ID cards, and visas, should be easy to use with the system.
The ability of the system to scan a selfie of the individual and match key facial features in real-time is essential. Using face match to recognize the individual on multiple facial points against a photo on record ensures the identity of the user.
Easy to Read Results
Any face match and authentication software must be intuitive to use for both the customer or end-user as well as the business. The results should also be immediately provided to the business, allowing a clear yes or no as a result of the analysis of the selfie as well as the existing documents on record.
Complicated systems not only frustrate customers, but they can result in mistakes. Practical, efficient, and accurate systems are simple to use and easy to incorporate into best-practices in any business.
At Accura Scan, we offer a simple, effective, and highly accurate real-time user authentication system. To find out more, see us online at accurascan.com.