Warning: You’re Losing Money by not Using Biometric Identification

Warning: You’re Losing Money by not Using Biometric Identification

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On the surface, Biometric Identification might seem as if it’s only useful for opening your bank account or when you cast vote at the polling station. The reality is that it can increase business profits and prevent fraud.  

Install Biometric Clock to Save Time 

Manually marking attendance is not only tedious but wastes time. And you cannot rule out errors. Install a biometric clock and it will take the burden off the supervisor. No need to manually check who is absent or who arrived late.

Profit and loss of a business are not only about the margin on the products sold. Managing human resources effectively is as crucial as selling a product for profit. The biometric clock also keeps a record of employees’ habits or biological traits. 

This also ensures that no one is ‘buddy punching’. What this means is that employees share PINs or swipe cards and use it for their friend, who is spending time away from the office.

Stop Fraud from Within the Company

Marking attendance for someone else is not always voluntary. Factory unions and offices can have small groups that can put tremendous peer pressure on employees to clock in for someone else. 

The company loses money by paying the wages for the day to a person that did not work. In certain cases, this apparently harmless act can turn ugly. What if the person absent at the office was involved in a crime but their register proves that they were at work?  

Eliminate Loopholes

You can lose your swipe card or the PIN you wrote somewhere but you cannot lose your fingerprint. When a payment is processed through biometric-enabled POS systems, you can be certain that the person was present. 

An employee could also be working for you remotely. Think about it. There are apps that give you access only after you identify yourself via a biometric. If you are the business owner managing a team of remote workers, you can make sure that your worker who is appearing online is genuinely present. 

Beyond the Finger Print

Think Beyond simple fingerprint identification. Imagine banks opening up bank accounts for you when you don’t even have to visit the branch. This has been tried at a few locations using facial and identity verification. It proved convenient for customers and profitable for banks. They didn’t have to spend money on additional staff and paperwork.  

A standard way to achieve this is to ask the potential customer to upload a government-issued ID to a secure online portal. Then biometric identification services match the picture on the ID with the person’s face. This entire process takes a few minutes.

You can open a bank account in minutes!  

Facial verification systems are becoming smart. They are not fooled by someone holding up a picture. The algorithms search for 3D depth for liveness. Moreover, there are systems that ask the user to turn the face away or blink to verify the person.      

Business, banks in general, are heavily invested in state of the art biometric verification of customers. Customer convenience aside, these are mandatory in many cases for know your customer and anti-money laundering compliance.

How eIDAS compliance is easier with Biometric Consent from Shufti pro?

How eIDAS compliance is easier with Biometric Consent from Shufti pro?

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Biometric consent authentication is a brand new verification solution from Shufti Pro, using an innovative mix of multiple verification services such as facial verification, document verification, and handwritten note verification. Available in both offsite as well as onsite verification mode, Biometric Consent authentication is even offered with OCR technology. This highly customizable Biometric consent solution has a large number of use cases but support for eIDAS compliance is something that is beneficial for a large number of businesses, especially those operating in the European Union. eIDAS envisions to ensure transparency in digital transactions, business communications and tends to provide a legal groundwork for electronic identifications. There are various features of Biometric consent verification from Shufti Pro that enables businesses to adapt signature verification and digital identity verification in compliance with specific regulations of eIDAS.

Handwritten Note Verification

Biometric consent verification can authenticate the presence of custom text on a handwritten note. It can use conventional verification process and can even utilize OCR for extracting text directly from a handwritten note. With broad language support available for OCR based data extractions and universal language coverage available for the conventional verification process, Shufti Pro is perfect for not only verifying signatures but even signature texts that can be changed for every new customer. For businesses operating solely in the European Union, Shufti Pro can easily identify and verify signature text written in all official European languages such as:

  • English
  • Spanish
  • Italian
  • French
  • German

Biometric Aspect

eIDAS is all about transparency in digital business practices and what better way to authenticate a person’s identity than with the help of their biometric features. Now when we hear biometric verification, we immediately think of a fingerprint scan or an iris scan. But all these sources of biometric verification create scalability problems for businesses. Not every potential user is in possession of a hardware that is required to perform a fingerprint scan or iris scan, despite large scale roll out of this specialized hardware in a smartphone these days. This is where facial verification comes handy as most smartphones include them and can easily take a snap of a user that wants to perform an identity verification.

Biometric consent verification from Shufti Pro utilizes facial verification as an additional check to achieve full-scale transparency that was the basic intention of those who formulated eIDAS. So, a person who has to show a customized document or a handwritten note carrying signature text on it also has to show their face to complete the verification process. Shufti Pro ascertains the physical presence of a person with the help of features such as liveness detection and microexpressions.

GDPR Compliant Solution

Shufti Pro is fully compliant to GDPR, another crucial compliance introduced by the European Union for data privacy and data rights protection of European consumers. All of the verification services and authentication solutions from Shufti Pro – including Biometric Consent – are fully compliant to GDPR. They follow all the guidelines put forward by this legislation and all the customer data is secured according to the protocols set forth by GDPR. Not only that, but it is only used for verification purposes as we understand the sensitivity attached to personal credentials of an end-user, liability attached to any leakage of those credentials and last but not least we are also aware of the trust shown by our clients to handle end-user information on their behalf.It means that Biometric consent verification from Shufti Pro is not only ideal for eIDAS compliance but it also helps businesses to perform verifications of their customers without worrying about multi-million dollar fines that are sanctioned by GDPR for companies that adopt lax data security practices.

Real-Time Verification Status

Automation, transparency, and digitization of businesses was the focus of the European Union when they introduced eIDAS, and Shufti Pro is a strong proponent of these principles as well in the online marketplace. This is why every verification result for all authentication services offered by Shufti Pro is provided in real-time with data collection being completed in 30-60 seconds, through an automated procedure. This feature is available for biometric consent verification as well, regardless of the fact that whether only a handwritten note is being verified or whether a user has to validate their face, a customized document along with a handwritten note. All this is made possible by smartly designed Artificial Intelligence of Shufti Pro that takes help from machine learning algorithms.

Global Presence

Shufti Pro and its biometric consent verification are not only available for businesses and companies based in EU. Both of them can even help companies based outside of EU but wants to conduct business and offer services in EU based countries as well. Shufti Pro is available in more than 225 countries and even supports 150+ official languages. Round the clock functioning of Shufti Pro provides a competitive edge to businesses that otherwise have to suffer time zone differences with EU based economies.

Compliance to eIDAS becomes entirely hassle-free for Shufti Pro customers with Biometric consent authentication. It increases the chances of encountering users with fake credentials and digitally authenticating monetary transfers.

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Why a Business would need Biometric Consent Verification?

Why a Business would need Biometric Consent Verification?

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Biometric consent verification is a unique solution from Shufti Pro that enables businesses and companies from across the globe to use identity verification services in an improved manner. It not only enhances the lookout for users with fake credentials but also acts as an effective shield against those smarter scammers who have the practical expertise to easily fool simple verification processes. This innovative verification solution incorporates various other authentication processes such as facial verification, document verification, and handwritten note verification. There are more than one reasons that make it an ideal verification process for any business, regardless of their country of origin or business category. Some of them are explained below:

Multiple Use Cases of Biometric Consent Verification

Biometric consent verification works perfectly fine for different use cases depending upon the verification needs of Shufti Pro customers. As it has the ability to verify not only customized identity documents (employee cards etc.) but handwritten notes as well, it provides the distinctive ability to its customers to verify end-users with individualistic traits like a handwritten note stating time and date at which a  verification is being performed. A bank can authenticate a transaction above a state limit, by asking the account holder to show their face and identity document in their webcam.

Tailored to your needs

Shufti Pro has always ensured ease of use for its customers and end-users. All of its services offer support for multiple document formats and even there are different verification modes. For example, document verification solution from Shufti Pro can also be used for country restrict feature, age verification, and Gender verification. Same is the case with Biometric consent verification solution. It is available both in onsite as well as offsite verification mode. It means that Shufti Pro can collect verification data directly from end-user and return verification results to both end-user and its customers, or its customers can send the already collected verification data to Shufti Pro for authentication. Either way, Shufti Pro will perform effortlessly, to the best of its abilities.

Flexible Pricing

Shufti Pro is not only enthusiastic about developing top-notch identity verification solutions for its customers but we also make sure that they are available at the right price to our customers. Shufti Pro offers startup, enterprise and premium pricing packages to its customers. These packages are designed in a way to provide right value for spent money to Shufti Pro customers, depending on their verification volume. After paying one time set up fee, Shufti Pro customers will have to pay for only the verifications that they have performed. There is no minimum limit of monthly or yearly verifications that Shufti Pro customers must pay for. They can choose a monetary amount and afterward, they will be billed accordingly from Shufti Pro back office, whenever they perform a biometric consent verification or any other verification service from service suite of Shufti Pro.

Real-Time Verification Results

Shufti Pro has developed an automated system of identity verification that can provide real-time verification results to its customer. This was made possible to remove hurdles from customer registration process without compromising on the authenticity of incoming users. Not only the procedure to verify a person’s identity by Shufti Pro is lightning fast but the credential collection process only takes 30-60 seconds.

Universal Coverage

Shufti Pro is well known in the KYC industry because of its global availability and ability to verify every one on the planet Earth. It covers over 190 countries and can verify all the official documents from all of these countries including identity documents, driving licenses and passports.  It also supports over 150 official languages enabling it to perform identity verification services much more easily for varied identity documents and even those printed in native languages.

Biometric consent verification from Shufti Pro also has a similar global presence. Broad language support is also available for handwritten note verification, offering to identify and verify customized text in major global languages such as English, spanish, french and italian.

Technologically Advanced Solution

Biometric consent verification, and for that all other services from Shufti Pro, are developed using modern age technolgies such as Artificial Intelligence, Machine Learning Algorithims, OCR technology for data extractions and to make verifications fully error free human intelligence is also utilised. OCR based extractions are especially useful in case of Biometric consent verificaiton as they can extract credentials from any customized identity document as well as customized text from handwritten note.

Shufti Pro has envisioned to make online marketplace free of identity theft, online fraud, and digital scams. This new biometric consent verification solution from Shufti Pro is an ideal way to reduce digital risk from any online venture. With a free trial version available to check the performance standards of this ingenious product, it is really worth your time and business interest to check this identity verification system that even offers hassle-free integration with pre-existing mobile applications, online channels, and web platforms.

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