These days, fraud cases are rising everywhere in the corporate world. The hiring experts also face the same issue. They want to use an automatic service that can distinguish between genuine candidates and cybercriminals. As per the recent surveys, around 14 million candidates face recruitment scams per annum which cost around $2 billion. There are a number of companies that have manual systems in place for these issues but they are time-consuming and error-prone. In this context, ID document verification is an ideal solution to deter fraudulent candidates and link the genuine ones. The application of the online document verification procedure is critical for every business in the modern era.
Top Perks and Benefits of an ID Document Verification System
- Advance Preparation for the Audit Process
The application of online document authentication also ensures that the system records the correct time and date. In this way, the company is fully prepared for the auditing process. They will be able to show the documents to any third party e.g. immigration staff members. Hence, the ID document verification process saves time and resources.
- Discourage the Fraud Attempts of Cybercriminals
It is no surprise that cybercriminals try to attack every business for their benefit. They use identity theft and other similar strategies to fool the security systems. In light of this, the use of an ID document verification is helpful in mitigating fraud effectively. The system works promptly. It only proceeds with genuine documents and rejects the fabricated ones. Candidates with the misconception that they can get away with manipulated documents will never see results and hear from their employers. The ID document verification system can easily resolve these issues because of its advanced features.
- Elevated Levels of Security
The use of ID document verification adds another layer of security to the pre-existing system. It plays a critical part to reduce the rising cases of terrorism financing. The ID document verification procedure works in real-time to ensure a secure recruitment journey for all entities.
- Ensure Less Time Consumption
These days, the workload in every business is high and deadlines are stricter. The top management members are always looking for ways to reduce time consumption in tasks. It is important for enhancing the productivity levels of the organization. If clients analyze the manual procedures, they will notice that manual effort took a lot of time and was hectic yet the outcome had so many flaws. The advantage of the digital ID document verification system is that it gives results in real-time with high accuracy. It eliminates the need of making multiple photocopies of the documents.
- Establish a Competitive Edge in the Market
Having an ID document verification system can be a competitive advantage for businesses. It shows care and responsibility on the part of the company. In such a manner, the customers feel a sense of peace that their data is safe and sound and no bad actor can damage it or illegally take their place. When companies communicate their strength (ID document Verification) to the world, it not only distinguishes them but also deters fraudsters from violating the integrity of the system.
How Does the ID Document Verification Procedure Work?
- The software asks the client to submit their photo of government-generated ID records in the session
- The technology extracts the information from the documents using the latest OCR technology. It extracts the desirable information and categorizes it in the database for future analyses
- The software pays close attention to the authenticity of the documents by examining their format
- The end-user can see the final answer on their screens. If they submitted genuine documents, they will see the confirmation. In case, the documents were fabricated, the consumer will see the message of rejection
Online ID verification System: Ensuring the Originality of the Documents
When the customers upload their documents, the software checks the format, MRZ code, and natural wear/tear of the documents. Moreover, it checks for the manipulation even on a pixel level that is not detectable by the human eye. It looks for special features that are only present on government-issued documents e.g. rainbows and holograms. Finally, it looks for special ink, paper, and micro-prints to finalize the verification results.
Read More: The Advantages and Challenges of Managing IT Services for Businesses
Wrapping Up
In a nutshell, the implementation of digitized solutions in the recruitment sector can transform the whole hiring procedure. The artificial neural networks and ML algorithms easily link the potential candidates with employees. It makes the hiring procedure frictionless because both parties benefit from the speed and convenience. It means that both of them can connect with their desired option instantly. Hence, ID document verification is a reliable procedure for all parties involved.