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Verifik: The ultimate solution for digital transaction security. Accurate and reliable biometric validation. Protect your business today.
You have probably been a victim of impersonation fraud or you know of a case close to you. Of course, impersonation is one of the crimes that has been trending since 2020.
According to PwC’s Global Economic Crime and Fraud survey, 47% of companies in the world claim to have experienced impersonation fraud and possibly one of the main causes is the absence of identity validation and verification processes.
With the arrival of the digital era, business grew exponentially, but at the same time, criminals took advantage of this situation, and today they continue to be a headache for companies.
According to a report published by Semana magazine, there was an alarming 40% increase in fraud in banking transactions during the year 2022. In addition, cases of forgery and phishing are reaching increasingly sophisticated levels, gaining popularity among criminals.
Faced with this problem, it is absolutely necessary for companies to adopt effective strategies and measures to combat these threats and protect their users and the integrity of digital transactions.
The importance of identity validation in corporate fraud prevention
Identity validation is a process in which companies can ensure the legitimacy of users, customers, employees or suppliers with whom their business is maintaining a relationship. This is why nowadays this process has become so important for businessmen, as the figures of business fraud.
Today it has become a necessity to prevent the risk of fraud by third parties, especially for industries that are in the digital environment and therefore face greater risks at the time of onboarding of users.
For example, banking and fintech entities are one of the guilds that have been most affected by this problem of identity theft. “30,410 cases of cybercrime were reported. 42% represent phishing, 28% identity theft and 16% fraud in online media”. Revista Semana
This problem of impersonation is especially present at the time of linking new customers, employees or suppliers, so it is essential to add identity validation practices and technologies, such as KYC & AML and biometric validation, which is currently the most effective.
Fraud security: The power of facial biometric validation
Facial biometric validation has proven to be a powerful anti-fraud tool for businesses, using unique and distinctive characteristics of the user’s face to ensure secure and reliable authentication. By implementing this technology, companies can accurately verify the identity of their customers and employees, thus avoiding cases of impersonation and fraudulent transactions.
Advanced systems can detect if a facial image is real or if it is a photograph, mask or even a 3D model or even the most sophisticated, deepfakes.
Read about Facial Authentication and Life Detection: The key to combat deepfakes.
In addition, facial biometric validation is convenient and easy to use for end users. With just a snapshot of their face, they can access services, perform transactions or authenticate quickly and seamlessly.
However, Verifik’s 3D biometrics, generates impenetrable and very complete levels of security, as it is not only possible to determine the authenticity and physical presence of the user at the moment of detection, but also to make accurate comparisons between 3D biometric records, with photos, portraits and even identification documents.
This guarantees solid and reliable identity verification, ensuring that interactions are with genuine people and thus maintaining the layer of security that any business needs, and on the user side, it also brings benefits such as improving customer experience and reducing friction in business processes.
Try Verifik’s free biometrics demo here.
Implementing biometric validation in business processes
The implementation of biometric validation in business processes has become increasingly crucial in the digital age. With cybercrime on the rise and the constant risk of fraud, companies must take robust measures to protect their integrity and the trust of their customers.
And although there are many kinds of biometrics in the market, the one that is guaranteeing and protecting more companies, is 3D biometrics, this is why organizations must implement secure identity verification technologies and platforms such as Verifik in their processes.
Verifik has been a reliable solution for thousands of companies, providing protection and efficiency, in particular, our services have been valuable for Fintechs, allowing them to comply with regulations in user onboarding processes. For example, thanks to our 3D:2D Face Matching + Legal Document service, companies are able to make more accurate validations, combining technologies such as 3D biometrics and OCR.
Learn more about 3D:2D Facial Matching + Legal Document
¿Por qué implementar la validación biométrica de Verifik?
Verifik is a reliable and secure platform that uses state-of-the-art technology to verify the identity of any user, customer, partner or supplier, through Verifik companies have access to a variety of tools to validate, authenticate and retain quality users, thus minimizing the risk of fraud and identity theft.
Some of the most effective solutions worldwide are provided by Verifik, such as biometric and even document validation solutions. However, in particular, biometric validation is the most accurate and reliable form of authentication, as it uses real-time face scanning, which captures more than 50 points of the face and features that are difficult to impersonate, ensuring minimal risks of fraud.
In short, implementing Verifik’s biometric validation in business processes provides greater security, reliability and efficiency. What are you waiting for to protect your company? With Verifik you not only mitigate business fraud, you will also improve the customer experience and therefore the reputation of your business.
Already implementing this technology in your business? Integrate it into your processes now and protect your business. Try it for free at Demo Verifik or Register to get personalized advice on our tool.
