Biometrics technology is growing in popularity as a way of identifying individuals online. And the technology is changing rapidly. Methods being used today were unavailable a few short years ago. And the future will look different from today.
To appreciate what the future of online biometrics looks like, first understand how far we’ve come.
Today, biometrics is considered to be a quick and reliable way of identifying and authenticating individuals. Biometric methods of identification are divided into two broad categories: physiological and behavioral. Physiological methods include identifying unique characteristics of a person’s face, fingerprints, hand, iris, and DNA. Behavioral methods analyze such things as a person’s keyboard keystrokes, signature, and voice.
Traditional means for identity verification are becoming obsolete as technology continues to evolve. This poses a major security risk for companies who haven’t migrated to a more advanced biometric technology solution. Why should you be concerned about outdated security software? As technology becomes more advanced and AI capabilities are becoming smarter, fraudsters are finding more and more new ways to hack internal systems and wreak havoc. Security hacks on internal systems that compromise the personal identification of your customers is detrimental to your business. Why take the risk by using an outdated solution for identification?
Biometrics are growing in popularity as a way of identifying individuals offline and online. Online, biometrics involves a person’s Digital Identity. Digital Identity is the online equivalent of physical ID documents, such as drivers’ licenses and passports. The goal of Digital Identity is to verify the identities of individuals online in a secure way that prevents spoofing and counterfeiting while safeguarding privacy and personal information.
The three most common biometric identification methods being used today to identify and verify individuals are facial recognition, voice recognition, and fingerprint scans.
Technology and processes change quickly in the area of biometric identification. In the area of online ID verification, you can anticipate seeing the following three trends develop in the coming months and years.
When banks, credit unions, and other financial institutions open an account for an individual, they use a process called onboarding. Onboarding requires new customers to provide a set of documents to verify their identity and confirm their home address. This process is how financial institutions, retail stores, and other enterprises comply with regulations to prevent corruption, money laundering, and funding of illegal activities, such as terrorism.
Typically, the new customer onboarding process involves obtaining a copy of the applicant’s driver’s license, a utility bill or filed tax return as well as a selfie from the customer to perform the necessary identity verification checks. This information is then sent to back-office operations for verification. Today’s onboarding process is time-consuming and frustrating for many customers and makes the experience less than ideal for all concerned.
In the near future, much of this manual process will be replaced by biometrics. Biometrics transforms the virtual onboarding process for employees and customers alike. Customers require just a mobile device and an app to scan their biometric information to prove to the system that they are who they say they are.
IDmission’s Artificial Intelligence Character Recognition platform, for example, uses a complex artificial intelligence engine to read an ID document and determine not only what it says, but what the field definitions/names are for a particular document type. It then compares the photo on the ID document with the selfie taken with the customer’s mobile device and sends the completed identity check data to the onboarding application.
With biometrics, organizations will easily capture the data required to complete a thorough identity check in one fluid process that eliminates today’s manual back-office processes. This will speed up onboarding while improving security.
The future of biometrics in online ID verification involves machine learning and artificial intelligence. Future solutions will use machine learning and artificial intelligence to learn from data, identify patterns, and make decisions with minimal human intervention.
We are seeing this future taking shape today. Machine learning, for example, is being used to augment machine vision. Think of it as adding a brain to a camera. Organizations are taking images captured with machine vision and using machine learning to train the machine to recognize patterns in human faces.
Organizations are also using machine learning to detect patterns in large data sets. Machine learning algorithms convert data to information, convert information to knowledge, and finally convert knowledge to wisdom. Machines are being trained to detect patterns in data, helping businesses draw vital conclusions about customer behavior and intent.
There are three main benefits of combing machine learning with biometrics:
Multi-factor authentication is quickly becoming the norm in the online space. The most common method is two-factor authentication, in which individuals confirm their identities using an additional method beyond their username and password. This second method is most commonly a security question or a code sent to their mobile phone by text.
The future of biometrics in online ID verification will involve machine learning platforms that examine multiple factors before authenticating an individual’s identity. One of these factors will be a biometric identifier. For example, organizations will scan the individual’s face or fingerprint using an app on the person’s mobile phone, plus require the individual to type their PIN into an app on their phone.
Biometric technology is going to revolutionize the way individuals verify their identities online in the future. Juniper Research predicts that more than 18 billion transactions will involve biometric identity verification by 2021.
Biometric technology for online ID verification is exploding largely because of the increased security and speed offered by biometric authentication technologies.
Biometrics promises to simplify customer and employee onboarding, create robust and enjoyable digital experiences for customers, deter identity theft, eliminate impersonation, and deter fraud and theft.