How do KYC Procedures Assist in Completing Face Authentication Operations?

By
April 11, 2024

Face authentication has revolutionized the world by elementally changing how to verify identity and interact with technology. This advanced technology uses unique facial features to get access various entry platforms and offers a highly secure environment by authenticating individuals. Its impact is far-reaching, as it enhances security measures in various known sectors of banking and healthcare. 

Face verification has strengthened the trust in digital transactions by preventing fraud and identity theft. The contactless nature of face authentication has become valuable in promoting touch-free interactions. Its application has enhanced the personalized user experience and streamlined reliable processes. Lastly, it stands out as a transformative force in the digital landscape and driving advanced industries.

Global Investment in the Face Authentication Industry

The facial recognition market is set to reach a value of US$5.71 billion in 2024, with an annual growth rate of 10.40%. The United States leads this growth by projecting a market size of US$2.06 billion in 2024. This growth reflects the increasing demand for facial recognition technology globally. Various industries like security, retail, and finance have driven its security through its application.

Face Authentication – A Quick Overview

Face authentication is a procedure where a user’s scanned physical features are validated to have quick access to the service to be used. It is also commonly known as face recognition. It depends on biometric detecting devices. Modern algorithms and native sensing technology are used as software that utilizes device cameras for this motive. Deep learning facial recognition leads to understanding its accuracy and how it actually works. 

Understanding the Face Authentication Process

Face authentication works by using biometrics identification technologies. Biometrics are the physical characteristics that are utilized to identify users. Some common types of biometrics are facial biometrics, retina scans, and fingerprint mapping.

The face authentication procedure mainly has four major steps such as, face conversion and recording, face identification, face analysis, and conversion and matching.

  • Facial Data Capture and Transformation

During facial data capture and transformation, the face of the user is recorded with the help of a device. The algorithmic software analyzes the biometrics and geometry of the user’s facial features, such as the distance between eyes, the shape of the jawline, and the width of the mouth from the recorded image. It is used to obtain the set of digital data codes. The numerical code obtained is known as a faceprint or biometric template, and it is different for each person.

  • Facial Recognition

During the phase of facial recognition, the device discovers and identifies the face of the consumer. It differentiates it from the background and from other users. 

  • Facial Assessment and Conversion

During the assessment phase, the image of the face is recorded and examined by the device utilized. Once again, the image is converted into a faceprint by an algorithmic system. The recognized facial biometrics in the faceprint make the matching phase to be much easier. 

  • Comparison of Correlation

During the comparing phase, the obtained faceprint is compared with the particular faceprint obtained initially for an accurate match. Machine learning and artificial intelligence (AI) are also used for face authentication, where they are instructed with image identification algorithms and training staff so they can compare a faceprint with environmental situations and poses. 

How does KYC Assist in Face Authentication?

Know your customer (KYC) plays an important role in the process of face authentication by making sure that the verified identity matches the person’s original identity. Here is how KYC face verification helps in the authentication process:

  • Data Accuracy

KYC procedures helps in the accumulation and authentication of user’s personal credentials, including facial data. It confirms that the facial features utilized for verification are based on up-to-date data.

  • Identity Authentication

KYC processes play an essential role in providing face verification services by authenticating the identity of consumers using official documents of drivers licenses and passports. This first step ensures that the user’s identity is accurate and valid.

  • Customer Experience

 

Face authentication clarifies the user experience by providing a secure method for consumers to verify their identity. It can lead the way to improved customer satisfaction and trust in the verification process. 

  • Fraud prevention

By using KYC checks, businesses can identify and protect identity theft and fraudulent attempts. Face authentification combined with robust KYC procedures makes it difficult for scammers to impersonate someone else. 

  • Compliance

KYC is a regulatory demand in many industries, especially banking and finance. Incorporating face authentication into KYC procedures ensures compliance with regulations that enhance security measures. 

Summing Up

Face authentication has played a major in reliability of users in the recent years. Therefore, its demand has increased to another level in various industries like banking, finance, entrance lots, corporate sector and many more. If it is used with advanced KYC procedures, the accuracy will increase to double which will enable its application in large financial sectors. It is encouraged to use the face authentication with KYC for robust results.