Document Checks – Ensuring a Seamless Customer Onboarding Process Digitally

Online businesses are facing many challenges nowadays due to the prevailing scams. Imposters have become clever in manipulating the firms to gain illegal access. Document frauds are upsurging on digital platforms. It is imperative for organization to strike a balance between dealing with these fraudsters and providing a better customer experience. Implementation of necessary document checks can help businesses to verify their customer before onboarding them. Moreover, online document verification can enable companies to deduce the potential risks of identity theft and fraud. 

How does a Company Verify Documents of its Customers Digitally?

Document verification companies are beckoning increasingly popular in recent times.  It is essential for the financial and non-financial institutions to imply a document checker for determining that only real clients are getting enrolled. Multiple regulatory authorities enforce the Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance to combat fraudulent activities. By properly reviewing a customer’s document, businesses can formulate trustful relationships with them in a more accurate way. 

The procedure for digitally verifying the documents of an individual is as follows:

• The customer has to upload or take a photo of the identity document.
• Next, the OCR extraction tool fetches the necessary details from the ID document. 
• Information is compared to detect any errors and get the document verified. 
• The software examines that the mandatory document checks are in place and no element is forged. 
• The final results of the verification are dispatched and presented in front of the end-user.
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Manual Document Checker vs Digital Document Verification Service

Digitization provides various benefits to organizations. Gone are the days when a user has to visit an office for reviewing the document checks. Businesses are now shifting to online document verification services to authenticate the user’s document due to many factors. Some of these intriguing points are: 

• For traditionally verifying the document, clients had to visit an office. Online document checks help to detect any error while sitting at home using the digital platform.
• A document checker online software enables the users to save their time as the whole process is working on artificial intelligence and machine learning technology.
• Companies can reduce their costs and resources by digitally verifying their client’s documents. The requirement to hire professionals has become less which causes the company to utilize the resources at some other useful place. 
• Compiling and storing piles of documents consumes a lot of space. An online document checker enables the companies to check the records digitally and save the results on cloud storage.

Reviewing Various Document Check Elements For Verifying an ID

Evaluating the Authenticity Level

The AI and machine learning technologies make sure that the documents of the individual ensure a higher level of authenticity. They evaluate that the user is consisting of only genuine documents. 

Identifying the Format

The software determines that the exact format is present on the document. 

Checking the MRZ code

The digital document verification helps to check the machine-readable zone (MRZ) code. It examines whether any illicit changes have been made to the document or not by evaluating each field. 

Detecting any folded edges

It is significant for the users to upload the image of their documents without any crumbled or folded edges. Avoidance of these factors might affect the document’s authenticity. 

Identifying the special ink

In most cases, a special ink is used in the official documents. These digital document checks detect the originality of the type of paper and ink present on the document.

Different Types of Document Frauds

Illegitimate Document Fraud

These are completely false documents that lack the basic characteristics necessary for a document. It could comprise of a hologram, rainbow prints, etc. which are missing from the original document. 

Stolen Documents

The fraudster steals the documents of the individual and utilizes them for their own benefit. The reason behind conducting this heinous act is to bypass the legal process of document verification. 

Modified Document

These are the genuine documents in which the scammers alter the information according to their desire. They may probably change the name, address, age, gender, or any particular information in the original document. 

Wrapping it Up

To conclude everything, document checks are gaining immense popularity with the rising fraudulent activities on digital platforms. The process is simple and effective which is helping organizations to enable a seamless customer onboarding process. Document verification has become the need for every company that wants to keep fraudsters at bay. Not only that, but it will also help the firms to preserve their finances and reputation from facing any degradation. Hence, document checkers online are proving to be the best solution for companies in the near future.