Artificial Intelligence - The future of Online Industry

Knowledge Based Authentication a Thing of Past

Knowledge Based Authentication a Thing of Past

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If you are wondering what is knowledge-based authentication or KBA, let me ask you a question, ‘what is your pet’s first name?’. If you know the answer to this question, congratulations, you are who you say you are. Because such questions are asked to verify someone’s identity before entering a platform online, and if the person in question is real, he would know the answer or let’s say would have the knowledge, such questions are commonly known as KBA questions. This information about a person can be easily found online. After experiencing the vulnerability of such questions, the world is moving towards stricter yet efficient measures for granting access.

 The Basics of Knowledge-Based Authentication or KBA

A dynamic KBA question system has four elements;

  1. The question should be suitable for a large population
  2. The user should easily be able to remember the answer
  3. There should be one correct answer
  4. Others should not be able to guess it

Going through this list alone reveals that many of these ‘barriers’ can be easily overcome. The premise is that if someone (or anyone) answers these kba questions correctly, their identity is verified. But this could be ‘anyone’ answering them correctly.

 What Went Wrong with KBA

Knowledge based authentication is considered one of the most common and easiest ways to verify identity online, used by various institutions. Even though it was contemplated as secure, because of continuous online data breaches and increasing cyber security standards, kba questions was viewed as the weakest verification system, so to speak. 

Also, since social media has spread like wildfire, finding personal information about a person has become easier. Let’s look at four ways why knowledge based authentication through kba questions is a weak security measure;

  • Easy to Find information on Social Media

It is becoming very easy to find information about a person on social media. The more they engage online the more ‘crumbs’ they leave for identity thieves. Go to LinkedIn to find where a person works, visit Facebook to find out the movies they like, search a Twitter handle to see their political affiliations, and the list goes on. These breadcrumbs are answers to dynamic kba questions and can easily be breached. 

  • Information is for Sale

There are only a finite number of kba questions circulating the web. Figuring things out about someone is not that hard. After hacking a website, the hackers can put the stolen information up for grabs for the black market. Pay the right price and quickly get access to someone’s personal information.      

  • Agonizingly Slow User Login Process

Every online portal performs a balancing act between usability and security. Put in place KBA questions and it slows down the entire online experience. The more rigid the authentication process the more chances that the customers will leave an unfinished form. This means fewer sales for an e-commerce website. 

  • KBA – The All-Access Pass

The old form of KBA used to give access after answering the security questions. The problem was that once access was granted it was like giving a kid the keys to a candy store. The identity thief had access to everything. There should be different checks and different levels of security to those checks. Changing your profile picture does not carry the same risk as transferring $1000 into someone’s account. 

 What about KBA 2.0?

Upgrading the old system won’t solve the problem. Authentication here is through kba questions, which is becoming easy to acquire. Just look at your email spam folder. Probably you’ve never even heard of those companies but they still found out about you and your interests anyway. 

 Modern forms of Verification

  • Facial Recognition

The authentication trend has gravitated towards facial recognition. It is very difficult to appear as someone else in front of the camera. Even attempts of holding up a picture in front of the camera to fool the system are being thwarted by modern technology.

Facial recognition is becoming increasingly popular, specifically with banks. Not only that the banks are using it to give access to accounts but there have been pilot projects for onboarding with it. They are constantly on the hunt for the best online verification services.

  • Securing Identity with a Chain

The year 2017 saw the rise of cryptocurrencies. Bitcoin reached an unprecedented high. This wave also highlighted the technology that runs the cryptocurrencies, the blockchain. Better to address a misconception before proceeding.

Blockchain technology is not confined to cryptocurrency, it is a cryptic form of networking. Once this open ledger is in place it can be used for communication, monetary transactions, smart contracts, and many other things.  

The key feature of blockchain is that it protects your digital identity. It is ingrained with a digital watermark that is unique to you. Every transaction that you carry out is performed with it, it can’t be stolen.

The bottom line 

Knowledge-based authentication is slow, unsafe, and quite vulnerable to attacks. Deep learning and artificial intelligence-based services are readily replacing dynamic kba questions. These are much faster and safer. With API, they easily integrate with websites and smartphone applications. Going forward solutions such as facial verification and liveness tests will become common.

Even though knowledge based authentication is considered unsafe, in some cases Kba questions can be advantageous. Companies having sensitive user data can develop their own dynamic kba questions. Using kba questions with behaviour analysis can be beneficial, behaviour monitoring can detect unusual customer behaviour patterns, while they are filling in the form. But since technology is constantly advancing, it’s time to adopt a better, more robust solution according to your current security protocols and needs.

How Biometric Technology is Shaping Up for 2020

How Biometric Technology is Shaping Up for 2020

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The verification of individuals for security measures has become remarkably important for organizations across all sectors. It’s not only imperative for financial institutions, banks, and law enforcement agencies to employ robust authentication systems but also for educational institutes, small businesses, and online retailers. The heightened threats of identity thefts, frauds, and online scams make greater security measures a necessity. 

One of the most appealing features of biometrics technology as a security measure is its simplicity. Biometrics employs the use of individual biometric traits. The most commonly used biometric authentication tool is fingerprint followed by facial recognition. Other forms of biometric modalities include facial verification, retina scans, voice recognition, finger vein IDs, etc.  

Biometrics has advanced to much prominence, especially in the last few years. In a 2015 report by Juniper Research, more than 770 million biometric authentication applications will be downloaded each year by 2019. In 2018, the global biometrics market accounted for $14.6 billion. It is expected to grow at a CAGR of 16.2% over the years of 2019-2027. 

The concept of biometrics can be traced as far back as 31,000 years ago when men were leaving handprints as signatures next to their cave painting. This system went through a number of changes and by 1903, New York prisons were utilizing fingerprints of inmates to keep track of offenders. But it’s only been in the recent past that biometric technology has gone under striking evolution to become what we see today. The integration of biometrics in smartphones expanded rapidly in 2013 when Apple introduced the fingerprint sensor on its iPhone X’s home button. 

A number of businesses these days employ the use of biometrics. Healthcare, banking, financial services, digital currency, telecom, aviation are some of the businesses that have to incorporate customer identification. These businesses have exercised biometrics to protect their processes and remarkably increase their efficiency. The average identification time using a biometric system typically varies between 3 to 5 seconds. 

What Will Biometrics Look Like in 2020? 


According to a poll by Spiceworks, 90% of businesses will be using biometrics by 2020. The biometrics market is expected to reach a value of $24.44 billion by 2020, according to a report by MarketsandMarkets. This significant rise in biometrics begs the question of the future of biometrics. 

Let’s take an in-depth look at how biometrics will be all the rage in 2020. 

  • Majority Banks Will Employ Biometrics For Identity Verification 

Financial institutions and banks fall under immense constraints to verify the identity of their clients and have robust identification systems. Being the guardians of some of the most sensitive data, banks have to be at the forefront of biometric authentication

According to a report by ResearchandMarkets, 1.9 billion bank customers will be employing biometrics. Bank customers will be using biometrics to

  • Withdraw cash from ATM
  • Prove identity during customer onboarding
  • Initiate the process of online money transfer 
  • Access the mobile bank app 

According to a Goode Intelligence report, biometrics will be the primary means of identity authentication utilized by banks and financial institutions. 

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How Biometric Technology is Shaping Up for 2020

  • Multimodal Biometric Systems expected to grow the most

Due to a growing need for security and protection, biometric technology is constantly evolving. The growth of multi-modal biometric systems can be attributed to the need for mitigation of frauds, scams and hacks. Multimodal biometrics employ at least two or more biometrics to verify the identity of the clients. There are a number of advantages of multimodal biometric systems over the unimodal systems: 

  • Through the combination of multiple identifiers, an additional level of security is added. 
  • Multimodal biometric systems are more effective, accurate and dependable. 
  • Another supplementary advantage of using a multimodal biometric system is the reduction in the Failure to Enroll (FTE) and Failure to Capture (FTC) rates. 
  • It provides a greater recognition efficiency compared to a unimodal system.
  • The intruder would have to break into more than one biometric system to break into the biometric multimodal system. 
  • Due to the availability of a number of features, a multimodal biometric system is more reliable.
  • If any of the modalities in a multimodal system is eliminated, the system can still effectively ensure security

Multimodal biometric systems will continue to gain more traction in 2020 with the increased development in the biometric sector. 

  • New Means of Identity Screening Will Be Explored

When it comes to biometrics and their application, most people limit it to fingerprint scans or facial recognition. Fingerprint modality is a huge market and is one of the most used biometrics. Biometrics is a vast field and through every passing day, its needs are escalating. In a 2017 report, it was noted that fingerprint modality will grow to an exceptional $11 billion in Banking and Financial Services by 2020 securing about $5.6 trillion payments. It becomes imperative to include newer means of biometrics for identity screening. 

The year 2020 will see other means of biometrics-based security systems. According to FCW, other biometrics methods will be joined alongside fingerprint and facial recognition. These different methods include measuring respiration and pulse or identifying veins in a finger. Cognitive vetting is also being explored like evaluating reactions to certain stimuli. These methods may very well prove to be more secure and reliable as compared to the present ones. But it is crucial to note that with more developments in the biometric industry, privacy questions will be raised as well.  

  • Biometrics Will Become Mainstream in Smartphones

It was not that long ago when digital biometrics was only a myth seen in sci-fi movies. In the last few years, biometrics has become remarkably mainstream, especially in smartphones. In 2016, 750 million smartphones which employed biometrics were in use, representing 30% of the global smartphone installed base. According to a report, by 2020, 100% of the smartphones in use will incorporate biometrics. 

Supplementary to that, more than 800 million smartphone transactions employing biometrics will be completed by 2020, generating close of $7 billion in annual biometric authentication revenue. Facial recognition for smartphones is going to gain a lot of traction as well. In 2020, 64% of smartphones shipped worldwide will have facial recognition technology. This percentage is up from just 23% last year, according to a report from Counterpoint Technology Market Research. 

Biometrics is a growing industry and when used correctly, it has provided an accurate set of data. Through the use of biometrics technology, users don’t have to go through the mundane processes of building complex passwords and remembering them. Biometrics provides a transparent way of identity verification and user accountability. 

Despite being secure, there are some privacy concerns attached to biometrics technology. There are issues that revolve around the safety of data collected and stored by retailers as well. Due to these privacy concerns, regulations regarding the use and collection of data are also being considered. In spite of this, the year 2020 will bring remarkable advancements in the biometrics industry. 

Artificial Intelligence – What is it and Why it Matters

Artificial Intelligence – What is it and Why it Matters

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Artificial intelligence (AI) emphasizes the creation of intelligent machines that work and react like humans. Artificial intelligence uses machine learning to work like human intelligence. The computer has to learn how to respond to certain actions, so it uses algorithms and historical data to make predictions.

Machine learning is one of the most important AI technology. This technology allows the machine to work on a certain algorithm of learning without explicitly giving them defined instructions. The machine learning AI-based program is designed for decision making with the ability to recognize the relations with available data. 

AI Taking over the world?

A person’s view of AI taking over the world is merely a misconception. Do you think that AI can challenge the human brain, his way of thinking and behaviors and surpass human intelligence gaining the title of “Super-intelligence?” It is not as simple as it seems right? A machine designed by humans is replacing Human..seems ridiculous right? Just because of the invention of some wonderful technology which leaves humanly astonished, causes an unknown fear in their minds.

Artificial Intelligence is just a technology that is used to ease the humans. But if people start thinking that this miraculous technology will take over the world replacing humans then it would be wrong. Because no matter how intelligent the machine is, it can never surpass the abilities of the human brain.

Why People Should Embrace And Not Fear Artificial Intelligence?

As new advancements in any technology are usual to go mainstream, the public in the majority often reacts with a degree of mistrust and fear. That’s probably because with each step technology takes forward, humanity usually has to deal with some growing pains. Even advancements that we now take for granted completely shook the world when they first came on screen. So is the case with Artificial intelligence which is just the latest form of technology getting a lot of fear and pushbacks.

Tesla and SpaceX chief executive Elon Musk has pushed for the proactive regulation of artificial intelligence because “by the time we are reactive in AI regulation, it’s too late”.He has been calling for “strict regulations of technology”. There’s a lot of fear surrounding artificial intelligence these days. Well, we all know about the saying “nothing is good or bad, its use makes it so” so what we need is a clearer understanding of the issues: what AI can do, and, more pressingly, what it can’t. Reasons Why AI is nothing to be afraid of:

  • AI does not know everything!

We have gone overboard with the unrealistic portrayal of AI robots and supercomputers thanks to Hollywood movies and sci-fi novels. These kinds of ‘take over the world and think independently of thy human creator’ AI programs simply don’t exist!

Humans have yet to invent an all-in-one AI design capable of performing an infinite number of tasks and learning at a geometric rate. What you’ll find instead is a growing number of AI designs that can perform very specific tasks very and are unable to “think” independently.

  • AI creates new jobs!

Whilst AI could potentially replace some jobs, it’s also true that AI has led to the creation of many jobs as well. For instance, smartphones combined with Uber’s AI technology have created driving jobs for just about anyone with a car.

It can be difficult to predict which jobs will be created, but it will absolutely happen. If nothing more humans will still be needed to double-check AI’s work.

  • It makes for a better consumer experience:

Thanks to its data processing expertise, AI can analyze a user’s behavior and respond accordingly to help them make purchases according to their needs and wants, creating a better online experience for the buyer and more money in the pocket of the business.

  • AI is not Handled by any single person:

There is no single government entity, military leader or evil CEO that can push a button and command AI to harm mankind. In fact, AI isn’t in the hands of a few people but instead is integrated across the globe and is in the hands of more than a million people in thousands of different forms.

  • It encourages more human interaction:

AI is assigned to repetitive tasks so that humans are free to do things that machines aren’t good at, such as interacting with other humans. AI can’t replace a doctor consoling an ill man or a startup CEO conducting dozens of interviews, but it can free up everyone’s schedules a bit. times. It saves people’s lives when people can’t save people’s lives by helping doctors by the diagnosis of disease does that they can provide the relevant course of treatment.

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Wonders of Artificial Intelligence In Every Sector:

Artificial Intelligence products are an innovative breakthrough that paved the way for businesses with the potential to boost rates of profitability. The number of artificial intelligence startups has been exponentially growing from the last few years. It has been employed immensely in business for creating smart applications. AI-based products make work easy and somewhat more reliable. The following are the few mind-boggling AI applications from various sectors:


When used in healthcare, AI practically changes the way patients are being treated. Artificial intelligence simplifies the lives of patients, doctors, and hospital administrators by performing tasks that are typically done by humans, but in less time and at a fraction of the cost. No one can dispute the power of MRI, X-ray machines, and CT scanners. AI-supported scanners can delve much deeper into the patient’s body, thus creating perfectly accurate images that reveal the presence or absence of illness. AI is already able to detect skin cancer more accurately than dermatology experts. AI-based apps can successfully track and evaluate user behavior, thus discovering the first signs of mood swings and depressive behavior, for Instance, BioBeats. Robot doctors are gradually taking over the surgery scene by making surgeries cleaner and more precise. Moreover, drug designing is becoming effective and less expensive by computational methods. So AI is verily enhancing the healthcare sector.


These days we are doing everything on the internet for almost everything. From online shopping to online ooking everything is being done via the internet. Online merchants need to worry no more as AI-based products have eased online business. These days Virtual assistants have grown to be a very common technology. Chatbots emphasize the value of human interactions and connection. Chatbots replaces forms with A.I. Instead of traditional marketing and sales platforms that rely on forms and follow-ups, it connects business with the best leads in real-time, like a virtual assistant for your website. Likewise, automated social media marketing tools are used. These tools perform automated publishing, add identity trending content, publish new posts automatically, etc. Companies can increase their efficiency on social media sites by automated tools that take much of the legwork out of this type of marketing, freeing staff members up for other campaigns, bringing up more profits to the business.

Financial Institutes

Since mobile banking is increasing so are digital scams clamping up. It is very important for financial institutes to know who they are dealing with. Thanks to AI Digital identity verification service are here which are used by banks or financial institutes to ensure that users or customers provide information that is associated with the identity of a real person. It decreases the time required for authentication of the ID of a person and streamlines the process. These products ensure security, deter frauds and decrease digital scams.

AI a Blessing – AML compliance cost reduced by $217 billion

AI a Blessing – AML compliance cost reduced by $217 billion

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The U.S. financial firms spend approximately $25.3 Billion in terms of compliance, risk management and AML procedures. Europeans banks come close with $20 Billion annual AML expenditure.

The increasing territorial and regulatory gap between organisations and consumers has lead to a demand for digitisation of operations. Regulatory bodies owing to evolving nature of online fraud and monetary assets (cryptocurrency) are putting a safety check on every interaction between a business and its consumer. This results in a narrow gap between compliance management and profits. But fortunately technology has evolved enough to remove this barrier.

Leveraging Artificial Intelligence

RegTech has gained sure footing in the recent years. By using AI, Machine Learning and Data Analytics it gave a relatively new approach towards traditional compliance procedure. Being fairly a newer concept, it definitely faced a pushback from regulatory bodies.

However, the situation now has changed.

The Financial Crimes Enforcement Network (FINCEN) has announced its ascent for organisations to “responsibly” implement and use AI powered approach towards meeting BSA/AML requirements. U.S. regulators have given a nod to emerging technologies and their possible applications for risk management.


A joint statement by five (5) U.S. Agencies, The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, FinCEN, the National Credit Union Administration, and the Office of the Comptroller of the Currency stated that,

“private-sector innovation, including adopting new technologies and finding new ways to use existing tools, can help banks identify and report money laundering, terrorist financing, and other illicit financial activity.”

The first step towards engineering an AI based compliance procedure is to replace existing rule-based processes. This can be achieved by engaging transaction monitoring, and detection models with the help of Machine Learning. The inclusion of Artificial Intelligence reduces the cost of manual labour, time spent on monitoring, and inaccuracy of results with the help of intelligent solutions. These solutions are fed logic to their backend and are able to replicate a set of decisions based on past events. AI is not just a readymade solution. It gives an opportunity to organisations to train systems according to their requirements.

Banks, Payment processors and other FinTech institutes can identify relevant KYC and AML compliance processes and easily implement their AI based application. Owing to the nature of their operations financial institutions hold vast data banks. By using Big Data Analytics this data is easily divided and categorised into distinct chunks. These chunks are further assigned machine rules to “read” future transactions and apply processes based on that.

The traditional approach towards KYC and AML compliance may hinder practicality. With the help of innovative solutions organisations are now able to cut costs and reduce number of resources exhausted to secure compliant processes.

It is no surprise that the Global RegTech industry is expected is expected to grow to $12.3 Billion by 2023.


Read more on how RegTech makes AML Compliance effortless.

The Role of Artificial Intelligence in the Future Of Financial Fraud Detection

The Role of Artificial Intelligence in the Future Of Financial Fraud Detection

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Until a few years ago Artificial Intelligence seemed like a thing from sci-fi movies. The whole concept seemed like fiction or a far fetched dream fed by wishful thinking. Then came personal assistants like Siri, Google Assistant, Bixby, Alexa and Cortana, which made the people realise that they could have something like a Jarvis in their homes as well. However, these are just known as weak AIs. Strong AIs are theoretically able to work with human cognitive abilities. Such advancing work in the field of AI is said to achieve tremendous goals in a number of fields including revolutionising the future of fraud detection.

Identity theft and fraud in the commercial sector has been a huge problem for nearly every merchant. Particularly since the increase in online buying of consumers, the number and types of online fraud have increased tenfolds. It is becoming an inevitable task for every business to implement productive anti-fraud solutions in their practices.

With the increase in online trade, cybercriminals have also found more intricate ways to defraud both businesses and end consumers. As the effect of access to information across the web snowballs, online scammers find new and more advanced ways to hoodwink retailers, online or otherwise.

Fraud in the Financial Sector

The financial sector, however, has been the most unfortunate victim of identity theft and online frauds and scams. MacAfee reported a loss of over 600 billion dollars to the global economy due to financial and other forms of cybercrimes. From Phishing scams to good old fashioned credit card to more modern fraud schemes including social engineering, card skimming, the Banking, Financial Services and the Insurance (BFSI) sector has seen the worst cases of frauds and has consequently suffered the most tremendous losses as well.

Read: How Augmented Intelligence is next stop in ID Verification Services?

The finance sector is constantly looking for ways to upgrade their systems an implement fraud protection measures, while cybercriminals are as a result looking and coming up with better and more advanced ways to hack into their databases or to compromise customer data to gain access to their finances. Such schemes are now being fought with advanced technology including machine learning and artificial intelligence.

The Market for Fraud Detection

The market for fraud detection and prevention services has gained a lot of popularity over the years, allowing the banking and the financial sector to fight fraudulent activities in an effective way. Up until now, the banking and finance sector was only able to put up walls against scammers or implement firefighting measures in case any scams surfaced.

In 2016 the entire market for such services was valued at 13.64 billion dollars. Better yet it is expected to cross 40 billion dollars by the year 2023. Primarily fraud prevention systems are software solutions that will provide conclusive and actionable solutions to identify frauds and block or at least limit any future occurrences.

Artificial Intelligence and Fraud Detection

Recently, the use of artificial intelligence in the fight against fraud has helped achieve an unprecedented level of success in detecting fraudulent activity. The idea is basically to fight fire with fire; if cybercriminals can use advanced tech to defraud the system, the same knowledge should be used to develop systems that can keep crooks out.

The idea of implementing AI-based models is to basically detect and predict identity theft and other scams commonly used by criminals to compromise financial institutions. The concept of big data comes useful herein. Since banks and financial institutes have on hand large amounts of customer data as well as transactional data, it can be used productively to predict patterns in data and look for any irregularities. This can make financial fraud detection a much easier feat for the BFSI industry.

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The Role of Artificial Intelligence in the Future Of Financial Fraud Detection

Use of AI in Identity Verification Services

More than that, AI can now be used to detect fraudulent pursuits by enabling businesses to implement identity verification measures to authenticate the IDs of customers. Shufti Pro is a such an AI-based identity verification software that provides an array of Know Your Customer (KYC) services through an AI-based SaaS. It has made significant headway into developing fraud prevention techniques that enable the banking sector to put up sizable defences against online fraud and cybercrime.

Shufti Pro is currently providing the best identity theft protection services in the market. It provides fraud prevention services through an AI-based authentication system that verifies a user’s ID in under a minute. It is supported globally and has universal language support in its system. Not only that, its restful API enables banks, financial institutes and online retailers to integrate their web-based applications and modules without any downtime.

Fraud detection and Artificial Intelligence together have the potential to transform the future of financial fraud detection and has already made significant headway into it.

How Augmented Intelligence is next stop in ID Verification Services?

How Augmented Intelligence is next stop in ID Verification Services?

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Augmented intelligence (AI), also referred to as intelligence augmentation (IA) and cognitive augmentation, is next level in Artificial Intelligence, fine tuning the overall automation process for different categories of tech industry including ID Verification services. Some skeptics believe that augmented intelligence will do away with human intelligence but in essence it is an effective way to make humans work in a refined environment with better productivity and trackable results.

From a purely academic standpoint, Augmented Intelligence is describe how normal human intelligence is supplemented through the use of technology. Over the years, we have seen technology supporting the daily work routines and even in some cases, social life of human beings through internet, software modules, social media and many other means. Now with concrete and results driven R&D at the helm, tech companies have been launching apps, softwares and programming modules that are making use of augmented intelligence to give an unprecedented boost to overall productivity of human beings. ID verification services are also another category of IT based services that stand to benefit from augmented intelligence.

Augmented Intelligence via Multiple Platforms

There are multiple platforms used by millions of users to gain access into social media website, their bank accounts, availing service from a ride sharing service and buying virtual currency from online exchanges among many other online tasks. Some prefer iOS based mobile devices, others are more inclined to use their Windows based Personal computers. So a product utilising augmented intelligence must also have a multichannel support so that an across the board access is available for a worldwide audience. Shufti Pro is one such product that believes on providing seamless identity verification services to its customers and augmented intelligence is cornerstone of the technology being utilised in Shufti Pro. It is supplementing the verification process with Artificial & Human Intelligence Hybrid.

The makers behind Shufti Pro also envisioned an effortless verification regime in which medium of verification never becomes a hurdle in the verification process itself. Shufti Pro easily integrates with pre-existing manuals and applications. API and SDK integration are available for Shufti Pro that are updated on regular basis in order to make the integration process hassle free for entire clientele of Shufti Pro. So, whether it is a Windows PC, Apple iOS or any smartphone with Android based mobile OS, Shufti Pro’s augmented intelligence works perfectly without any discrepancy in performance standards.

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How Augmented Intelligence is next stop in ID Verification Services?

Augmented Intelligence and ID Verification Services

Thanks to advances in the fields of cloud computing and mobility, we are generating and storing huge amounts of data. Processing that data to collect concrete information and verifiable credentials is core of ID verification services like Shufti Pro.

With hundreds of verifications required to be performed in any given second across the globe, the urgency given to Identity verification services is understandable. Only Augmented Intelligence can perform lightning quick verifications assisting human intelligence to skillfully validate each credential, document or personal detail provided by a potential client. In the absence of augmented intelligence, Identity verification services will take hundreds of man-hours and an unimaginable labour force to check each credential. This is the reason why Shufti Pro is not just a run of the mill Artificial Intelligence based solution but it also has the tendency of reducing the workload for human DEOs through augmented intelligence. Machine learning algorithms of Shufti Pro enable it to perform ID verification within 30-60 seconds processing time as well, setting new records in ID verification category.

Shufti Pro’s augmented intelligence backed verification services are must have product not only for banking organizations or financial institutions but for every business that is under the danger of being defrauded by identity theft or doctored credentials. KYC services from Shufti Pro are just one part of Identity verification services offered by this new age technology. It also offers AML Compliance services using enhanced modes of augmented intelligence that again helps institutions and online businesses to offset any financial risks that a potential customer or transaction can pose for them in future.

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