Today, ID document processing software systems have become increasingly popular in many industries. Thanks to the convenience, accuracy and efficiency that these systems provide. By automating the data entry and document scanning process, businesses save time and money while improving the quality of work.

With IDefy, you can avail of different services like ID document processing, face recognition and more. It is up to your organization’s requirement whether these services need to be used separately or combined.

Scroll through the article to overview the ID document processing software.

The Need and Application of a Digital ID

Digital ID documents software is designed to provide a secure, automated way to compare digital identity documents with customer records and other sources of information. Companies can use it to scan various biometric data points on the document, like fingerprints or facial recognition, as well as any text-based information you may include.

The document id verification software can be used in various ways, from verifying customer accounts before they are activated to validating documents during transactions. It also provides an audit trail that allows organizations to track when and where the verification occurred.

How does Document ID Verification Software Work?

The software uses facial recognition, artificial intelligence (AI) or optical character recognition (OCR) technologies to analyze images of IDs associated with an individual. The system then compares the data on the document with an existing database of valid documents and generates a report indicating whether the document is authentic.

Reasons to Have a Document Verification Software

• Increased Security

For organizations that need to establish identity and trust, identity document verification software provides a secure way to quickly verify an individual’s identity through automated processes. Document verification software helps organizations protect their sensitive data and ensure that all documents are valid by verifying any document presented digitally or physically.

• Streamlined Process

Automated document verification systems speed up the process of verifying documents, allowing organizations to quickly assess applicants or customers without going through a slow and tedious manual process.

• Cost Savings

Document verification software can save organizations money in the long term by reducing administrative costs associated with manual document verification processes. With software like IDefy, a business can save costs in the longer run.

• Improved Customer Experience

Identity document verification software can drastically improve the customer experience by streamlining the process with automated solutions. This software makes it easy for businesses to quickly and accurately verify customers’ identity documents such as passports, driver’s licenses, national ID cards, and more.

• Increased Compliance

With identity document verification software, organizations can streamline the entire process and comply with legal requirements. It helps ensure their business operations are running smoothly and protected from potential legal liabilities or issues.

Drawbacks of not using Identity Document Verification Software

The potential drawbacks for companies not using identity document verification software include the following:

• Fraudulent Activities

Due to the lack of proper vetting of customers’ identities, there is an increased risk of fraud and money laundering. Identity document verification ensures compliance with KYC (know your customer) regulations, which can help protect the company from criminal activity.

• Difficulty in Verification

The absence of identity document verification software can make it difficult to verify customer identities quickly and accurately, leading to delays in onboarding new customers.

• Higher Cost of Manual Processes

Manual identity verification is more time-consuming and costly than automated solutions that utilize technology such as identity document verification software.

• Lower Customer Satisfaction

Customers can become frustrated if the identity verification process is slow or difficult to complete. Automating the process with identity document verification software can help reduce customer frustration, increase customer satisfaction, and improve overall onboarding times.

Conclusion

Identity document verification software can provide a final verdict when verifying the authenticity of an individual’s identity documents. This software ensures accuracy and consistency in its results by relying on an automated process.

Help your business or organization quickly and securely verify the identity of its customers while avoiding costly manual processes using the services of IDefy today.