When reviewing identity verification solutions for businesses, owners must find a broader range of options available. These options range from traditional to innovative and straightforward to highly sophisticated approaches. While document verification may not be the most compelling choice, it remains essential when combined with other verification methods.
Serving as the original verification solution, document verification plays a crucial role in ensuring identity authentication. Moreover, it’s worth noting that the global spending on the identity verification market is forecasted to increase by more than $13 Billion over the range of 10 years from 2017 to 2027. This substantial growth results in the market size expanding from 4.93 Billion in 2017 to over 18 Billion in 2027.
Unravel the Depths of Document Verification
Document verification concerns verifying the authenticity of different documents, such as employment records, bank statements, and business documents. It acts as an integral part of identity verification processes implemented by numerous businesses, combining multiple verification methods to ensure reliability and accuracy.
However, documents verification takes place in physical settings as well, and it’s commonly linked with digital or online environments. In digital settings, the term primarily refers to the procedures of digitally confirming the authenticity of documents. The document verification procedure usually involves the following:
- During the account-creating procedure, the user provides personal information needed by the businesses. It may vary but usually involves details like name and date of birth.
- In most cases, the user may be driven to provide one or more documents as proof of the supplied information. For example, a piece of mail is requested to investigate the user’s address.
- The required document undergoes verification, ensuring its authenticity to detect any signs of tampering and forgery.
- If the document passes the verification process successfully, serving as evidence that the user’s provided information is truthful and accurate.
Explore the Functionality of Online Document Verification
The specific functionality of online document verification may vary based on factors such as industry and document types involved. However, the procedure can usually be divided into four distinct steps:
- Document collection
- Data extraction
- Document validation
- Manual verification
- Document Collection
The primary step in the document verification procedures involves gathering the document from the user. It can easily be accomplished by requesting the user to capture and upload one or more document photos. Once the user submits the required documents, it encounters pre-processing and analysis, ensuring it satisfies the business’s requirements.
The system inspects if the document is indeed the desired document and not a picture of something else. Not only this, but it also evaluates the clarity and photo quality, examines for any evident tampering signs, and verifies if the whole document is captured.
Documents that fail to meet these requirements for any reason, will be rejected. While those that meet the criteria proceed to the subsequent step of the verification process.
- Data Extraction
When a user uploads a required document for verification, they ordinarily provide a document photo. Data extraction can be performed by using different methods to gain this information accumulated within the document. These essential methods are pattern recognition, Optical character recognition and other similar techniques.
Once the required data is extracted, it’s compared with the data provided by the user. For example, if the user submits a utility bill as proof of address, this is cross-checked against the address initially provided by the user. Moreover, discrepancies between the user-supplied data and the information within the document raise mistrust. While these discrepancies may be due to input errors, indicating potential fraud.
- Document Validation
The subsequent step in the procedure requires validating the authenticity of the provided information. This authenticity encompasses a range of checks, potentially spanning various criteria, contingent on the specific document type undergoing verification.
Typical validation checks encompass the following:
Document Completion: Verification includes investigating if a multi-page document’s essential pages have been uploaded. It ensures no important information is missing.
Edge Detection and Cropping: The system inspects the edges of the document to encounter any signs of manipulation and cropping that might suggest tampering.
Special Feature Identification: Official documents usually incorporate specific security features such as holograms, watermarks, stamps, unique fonts and textures that are challenging to duplicate. The verification procedure analyses these features to validate the authenticity of documents.
Colorspace Analysis: The lighting, colour and shadows in a picture provide additional contextual information. Color Space analysis helps decide whether the document is forged, genuine and tampered with by analysing these factors.
Manual Verification: Businesses have two options when a document raises a suspicious point during the verification process. They can go for a cautious approach and abandon the document outright or they can start a manual review process where a human reviewer assesses the case.
In conclusion, online document verification is a crucial aspect of identity verification in various industries. It ensures the authenticity of documents, detects signs of tampering or forgery, and validates the accuracy of user-provided information.
By leveraging advanced technologies such as pattern recognition and OCR, businesses can enhance the efficiency and effectiveness of their document verification procedures. As the world becomes increasingly digital, online document verification remains an indispensable tool for secure and reliable identity authentication.