By capturing an individual's fingerprints, voice, and face and comparing it to a pre-existing database, the person's identity can be quickly verified, saving time and expenses.
At the same time, companies have to be aware of the way they distribute this valuable and sensitive information and learn to protect it. The problem is that if these types of biometric checks used separately there will be a potential of false positives: facial recognition system can be tricked by wearing a mask or showing a picture of the user, voices can be pre-recorded and fingerprints can be faked given enough motivation.
That is why financial companies and institutions, in particular, are recommended to use multiple types of biometric authentication as a wholesome strategy for fraud prevention. Having a couple of such physical and behavioral identifiers combined you can be sure that no one will fool your security system.
For example, there is liveness — a new popular solution on the market that allows users to create an account and log into the system within minutes just by using a document of choice and a selfie camera that provide all the necessary data for the system to let them in. The solution is more highly sophisticated and uses multiple steps of analysis such as 3D, image depth, voice, and micromotion checks.
Often liveness doesn't prove to work as expected. So, how to choose liveness that won't let your business down? Find out more about the right solution based on our trial and error experience on the topic.
Implemented in a professional way, biometric identity verification allows financial institutions to comply with KYC/AML regulations and at the same time offer maximum customer satisfaction. 350+ businesses and 10 000 000 users trust Sumsub and benefit from the accuracy of our biometric-based solution. Sign up for a demo.