Face verification was designed to be a deterrent for data theft and to speed up user onboarding, even though it is now a fun way to unlock your smart gadgets and play dress-up. It can be a wise decision to integrate facial ID verification into your Know Your Customer (KYC) identity verification system. Some of us have forgotten the background and overarching role that face verification plays in anti-money laundering (AML) and digital identity security as it becomes more prevalent in our daily lives.
Face Recognition and Face Verification Have Different Functions
Although the terms face recognition and face verification are frequently used interchangeably, they are not the same. Simply understanding what recognition and verification entail can help you understand the differences. Verification involves comparing an identity to a face, while recognition is all about recognising the face.
The fact that facial recognition has a history and face verification is a more contemporary concept may be the cause of the confusion between the two terms. Because of its history, face recognition is better understood than face verification, its offspring. Face verification is what identity verification solutions refer to even though face recognition is used to identify and confirm a person’s identification.
The irony of face recognition technology is that many millennials consider it to be modern technology. Facial recognition research, however, actually began in the 1950s. It has been in use long before the millennial generation arrived. The numerous uses for face recognition are something that millennials can take pride in.
Face recognition applications
Facial verification does a lot more for digital identity security than face recognition, which many of us find to be a nice function on our smart devices. That doesn’t, however, reduce the dangers that facial recognition apps expose all of their users to in the name of amusement. What precisely is your face recognition data being used for when certain large firms refuse to give their data to law enforcement authorities?
At airports, borders, and points of entry into nations, states, and regions, facial verification devices are placed. Security systems are equipped with facial detection and recognition software ready to identify those who attempt to escape the system as they pass through various points of entry and across public locations.
It requires global ID verification capabilities because it is a cross-border transaction.
Identity Verification in Real Time
In the sake of protecting digital identities, law enforcement agencies were among the first to adopt face verification, and they continue to advocate for its wider adoption worldwide. They constantly ask for access to secret company facial verification systems in order to improve match success for this reason. For these agencies, real-time identification verification is essential.
On platforms for online gaming and gambling, facial ID verification can be useful. Systems that use facial recognition software can safeguard children while discouraging bad actors from accessing these websites. Age verification will prevent minors from accessing sites with age restrictions and lessen the impact of con artists who like dressing up as children.
AML Compliance and KYC Verification
The best application of face verification, outside of global security, is automated KYC verification. Face verification can be incorporated into your permanent digital identity security system as part of your user or customer onboarding strategy. Global ID verification will provide your face verification system with an added advantage in terms of asset security and transaction monitoring in banking or other high-risk businesses with assets to protect. You have the option to use a face verification service or develop your own system (a terrible idea).
Face verification on mobile
Do you wish to know whether or not someone is connected to you? For that, there is a face app. It is one of the numerous facial recognition applications that, depending on the algorithm, serve various purposes. For instance, popular face recognition apps like FaceAPP and AppLock, which let users change their identities and unlock their smart devices respectively, can be used for mobile face verification.
The kind of algorithm your face verification system uses will determine what it is capable of. Those in charge of the face verification system will determine how the data is used.
Face verification will either have advantages or disadvantages depending on the algorithm and those in charge of it.
Face verification’s advantages
It is based on machine learning, the Internet of Things (IoT), and artificial intelligence, and when applied properly, it has a lot of positive outcomes. A recent push into blockchain technology has the potential to revolutionise face verification and digital identity security. The use of face verification still has many advantages even without the addition of blockchain. The benefits of facial recognition are as follows:
- Improved security systems for law enforcement
- Safer internet
- Improved image quality thanks to camera autofocus
- Smoother onboarding for customers and users
- Age Verification
- Electronic KYC
- Improved handling of digital identities
Face verification is already a part of our daily lives through cameras, smart gadgets, machine-readable passports, and other types of face IDs, despite concerns about privacy, bias, deep fakes, and racial profiling. Adopting face ID verification is not the main problem; rather, the problem is applying it properly. Actually, a large portion of the issues with face ID verification was caused by its users and applications.
A face verification system should have a minimum match rate of 91%. Anything that has an error rate of more than 9% needs to be retested. It is not a good option for identity verification. Pay attention to how much human guidance is used in the application. Biases and mismatches are more likely when there are too many.