In today’s tech-savvy world, approximately 5.27 billion people own cellular devices. Although their online activities vary greatly from one person to the next, each user has a unique digital identity that is linked to their actual identity. When this digital identity is not protected adequately, users are subjected to various attacks launched by cybercriminals.
The methods that these criminals use to obtain data are plentiful but it all comes down to the same result, cybercriminals steal millions of dollars each year from unsuspecting victims. In fact, studies show that cybercrime will cost the world approximately $10.5 trillion dollars by the year 2025-- a drastic leap from the $3 trillion dollars reported in 2015.
In efforts to thwart these attempts which are constantly evolving and becoming more difficult for the average internet user to detect, the use of strong passwords and other forms of identification has become more important than ever for any online interactions.
Surprisingly, the adaptation of these practices on cellular devices is changing the entire course of ID verification rapidly. These advancements have been utilized by credit monitoring services, banks, insurance companies etc.
What is the Difference Between ID Verification and ID Authentication?
To understand the role that cellular devices are playing in ID verification, it is crucial to separate the concept from ID authentication. Many mistakenly assume that the terms are one in the same, but they refer to two different processes.
First and foremost, ID verification is the process of inspecting an ID, either visually or with technologies like automated data extraction, document experts, or machine learning. This validates a person’s identification, but ID authentication takes the process a step further.
With authentication, specialized and advanced technologies, and in some cases, biometrics, analyze security features that exist within the ID to confirm its validity. While this isn’t practical for all businesses, it is a necessity in certain industries where strict compliance laws are in place or where fraud attempts run rampant.
How Are Cellular Devices Connected to ID Verification?
How many times have you tried to access your cellular device, only to discover that you need to first re-enter a lock screen password to gain access? This same concept is prevalent on nearly every app or website that is popular among cellular device users.
They all aim to protect their users from having their financial or other personal data accessed by unauthorized individuals, so passwords and ID are required. This can go even further with requirements like users being required to provide a verification number that is sent to their cellular device or even through the use of biometrics.
The same technological concepts for cybersecurity are extending to the ID verification industry to protect data, consumer identities, and the reputation of businesses. Some of the most prevalent themes adopted from cellular devices that are extending to ID verification as a whole include: KYC, AI, and facial recognition:
KYC Verification
KYC (or Know Your Customer) verification is most common in the financial industry in settings like banks. The process involves ID verification checks that verify the customer’s identity and ensures that they are not receiving funds illegally, such as through money laundering.
While the concept has been around since the 1990s, in recent years the demand for online banking, credit applications and insurance policies have warranted advances. Today, banks use technologies like machine learning as part of KYC verification to learn about their customers before, during, and after they have done business with them.
This method also aids in detecting fraud if there are unusual charges and allows these institutions to remain compliant with money laundering laws and regulations. This machine learning is similar to how cellular devices are able to suggest websites you may want to visit or apps you may be interested in downloading.
AI
AI (Artificial Intelligence) is being used more frequently in the ID verification field to ensure that IDs are valid. This is done by developing unique algorithms that are able to check an ID for security features that may not be visible to the naked eye.
For example, the technology may detect a fake ID and that has all other components of a real one by noticing something as minor as a discrepancy with a hologram security feature. This same technology is most notably used through cellular devices with virtual assistants like Siri and Alexa.
Facial Recognition
On many new cellular devices, users have the option of skipping a traditional password to access the device’s contents. Instead, facial recognition or fingerprints, also known as biometric verification may be used.
This drastically increases the security of a device because it is much easier for cybercriminals to crack a standard password than it is to obtain ID verification through a unique fingerprint or facial features. This is being applied in many fields where valid ID verifications and data protection are necessary and with the software comparing over a hundred different points of the face to verify, it is much more accurate than a visual assessment.
This is especially true when a person may have changed their hair or has had other drastic changes in their appearance that make a visual ID verification more difficult.
Although cellular device technologies are an ever-changing concept, the advances made in this field continually expand to others. When it comes to ID verification, cellular devices will likely continue to shape the industry throughout the years in efforts to protect consumers and businesses against threats like cyber attacks.
