Biometric technology is getting advanced and modernised day by day with incorporation of artificial intelligence technology and machine learning technology into it.
SwissCognitive Guest Blogger: Shubhradeep Nandi, Co-founder & CEO Of PiChain
Taking advantage of this advancement and modernisation, organisations have started using biometric system as a means of digital identity to prevent organised crimes, detect any malpractices or fraudulent activities and to improve security within the organisation as well as the systems used by the employees. Many small and medium enterprises outsource KYC verification of employees and customers to background verification companies. These companies equip themselves with latest biometric system powered with AI security systems that are not affordable by small and medium enterprises. This makes the verification and validation of your employees and customers easier, effective and economical as there is no cost involved in purchasing, installing, operating and maintaining the biometric system.
How Does Biometric System Work?
Organisations mainly uses fingerprint scanning, voice recognition, facial recognition, signature recognition and Iris and retina scanning as a measure of biometric identity of a person. The biometric system is used to capture all of these or a few of these and are stored in its centralised database. Whenever a person needs to gain access to your organisation or any of your system, they must use any of the scanned biometric feature. Their scanned biometric feature is then matched with the existing ones in the database to provide access to your organisation or system. The same methodology is used in KYC check where your customer’s biometric data are compared with the existing ones in the government database to verify and validate their biometric data. This helps in establishing the authenticity of your customers. It also helps you to find out any customers with criminal records and avoid any services to them.
Implementing Stronger Identity Checks
AI in cyber security systems integrated with biometric system makes it unassailable. AI and ML makes the biometric system learn different samples of the same biometric trait of a person that are stored in the database to make it indisputable. When you try to authenticate digital identity of a person, the
AI-powered biometric system mixes and matches with the multiple samples of the person to verify and validate their digital identity. Thus, it helps in implementing stronger identity checks by allowing access only to your employees inside your organisation. Apart from this, you can allow entry only to a few authorised personnel into the most secured areas of your organisation that stores servers, important information like your organisation data and customer data and electrical hubs. This helps to improve security within your organisation.
Liveliness Detection of The Person
Artificial intelligence technology eliminates digital identity robbery. AI does it by adding additional security to the data storage making it least viable to be hacked. AI-powered biometric system also identifies the imposters easily as it compares the identity of the person present with the multiple samples present in the database. This helps in liveliness detection of the person whose digital identity is being verified and validated. So, imposters cannot use photographs, videos, or any other duplicated biometric traits to trick the system. Thus, it provides a fool-proof digital identity of your employees and customers. This helps in identifying malpractices and organised crimes. It also helps to prevent any fraudulent activities by raising an alarm on the dashboard of your risk and compliance officers.
Application of AI-Powered Biometric System
Background Verification
Organisations have started leveraging biometric system for ultrafast KYC verification. It helps in verifying and validating your customers’ details from the government database in which they are stored. For this, you must capture your customers’ biometric traits using a biometric scanner. You will then send their biometric traits to the respective government department database in which their biometric traits are stored. The application in the government’s server matches the biometric traits sent by you with the one available in its database to verify and validate the digital identity of your customers. This transaction happens over a secured API that interfaces your application with the government’s application. AI in cybersecurity systems ensures that the transaction requests between you and your customers and you and the government organisations are safely transported to the target systems without being hacked and stolen during transit. This makes KYC check fast, reliable and safe.
Background verification companies have also started using AI-powered biometric technology and have incorporated AI in cybersecurity system to provide robust verification and validation of digital identity of a person without compromising on the security of the data.
This helps in quick onboarding of your employees, customers, and business.
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Video Interviews
You can use facial recognition feature during video interviews to make sure that the respective candidate is attending the interview and is not substituted by any other person. This helps you to make sure that you procure right talent for your organisation.
Financial Sectors
Both banking and Non-Banking Financial Company (NBFC) has a tremendous need to secure their data and their customers’ data. To ensure this, they must verify and validate the authenticity of their customers and employees to prevent data theft, any potential frauds or organised crimes such as money laundering or money theft from your customers. They are harnessing the power of AI in cybersecurity along with biometric systems to have proper checks in place. This prevents them from saving litigation charges and improve the goodwill of the company in the face of their customers. It also helps to have proper compliance in place and improves the compliance confidence score.
The other areas where both banks and NBFCs deploy biometrics are cash withdrawal from ATMs, online money transfers, mobile bank applications, UPIs, digital wallet, voice payments, mPOS, and P2P transactions.
Ecommerce
Ecommerce sites are also making use of biometrics to improve user experience by using various biometric traits such as voice recognition, facial recognition, and fingerprint recognition. This avoids the hassle of remembering complex passwords as well as allows to order and purchase using voice recognition feature. It also secures the payment, identity of their customers, and their ecommerce account.
Tours and Travels
Travel agents and hotel accommodations are increasingly using biometric system to verify and validate the identity of their customers. This ensures safety of their customers and their organisation by avoiding miscreants or terrorists traveling using their service and accommodating their hotels.
Future of Biometric System
Sooner or later, you can expect multimodal biometric system powered with AI security replacing the present unimodal biometric system. This is essential to provide additional layer of security to verify and validate the digital identity of a person. This will make it tougher for the hackers to break through more than one system to duplicate the biometric data. It will also reduce the Failure to Enrol (FTE) and Failure to Capture (FTC) rates. In multimodal biometric system, you must at least verify and validate a minimum of two biometric traits of a person to qualify the biometric verification and validation process. This requires you to have multiple scanning options in place that helps you to reduce FTE and FTC. More complex biometric traits are being explored to make the biometric system stronger. Some of these include cognitive vetting such as response to a certain stimulus, respiratory rate, pulse count, identifying vein in the fingers, facial verification and so on.
About the Author:
Shub is the Co-founder & CEO Of PiChain. He is an Entrepreneur passionate about cutting edge technology that makes human lives better. He is on a quest to achieve Sustainable Compliance for 500 Entities by 2025. He has decade-plus years of experience in building and selling software for Finance and Regulatory compliance management. At PiChain Shub provides organizational leadership with his unique combination of business understanding and technical acumen.
Biometric technology is getting advanced and modernised day by day with incorporation of artificial intelligence technology and machine learning technology into it.
SwissCognitive Guest Blogger: Shubhradeep Nandi, Co-founder & CEO Of PiChain
How Does Biometric System Work?
Organisations mainly uses fingerprint scanning, voice recognition, facial recognition, signature recognition and Iris and retina scanning as a measure of biometric identity of a person. The biometric system is used to capture all of these or a few of these and are stored in its centralised database. Whenever a person needs to gain access to your organisation or any of your system, they must use any of the scanned biometric feature. Their scanned biometric feature is then matched with the existing ones in the database to provide access to your organisation or system. The same methodology is used in KYC check where your customer’s biometric data are compared with the existing ones in the government database to verify and validate their biometric data. This helps in establishing the authenticity of your customers. It also helps you to find out any customers with criminal records and avoid any services to them.
Implementing Stronger Identity Checks
AI in cyber security systems integrated with biometric system makes it unassailable. AI and ML makes the biometric system learn different samples of the same biometric trait of a person that are stored in the database to make it indisputable. When you try to authenticate digital identity of a person, the
AI-powered biometric system mixes and matches with the multiple samples of the person to verify and validate their digital identity. Thus, it helps in implementing stronger identity checks by allowing access only to your employees inside your organisation. Apart from this, you can allow entry only to a few authorised personnel into the most secured areas of your organisation that stores servers, important information like your organisation data and customer data and electrical hubs. This helps to improve security within your organisation.
Liveliness Detection of The Person
Artificial intelligence technology eliminates digital identity robbery. AI does it by adding additional security to the data storage making it least viable to be hacked. AI-powered biometric system also identifies the imposters easily as it compares the identity of the person present with the multiple samples present in the database. This helps in liveliness detection of the person whose digital identity is being verified and validated. So, imposters cannot use photographs, videos, or any other duplicated biometric traits to trick the system. Thus, it provides a fool-proof digital identity of your employees and customers. This helps in identifying malpractices and organised crimes. It also helps to prevent any fraudulent activities by raising an alarm on the dashboard of your risk and compliance officers.
Application of AI-Powered Biometric System
Background Verification
Organisations have started leveraging biometric system for ultrafast KYC verification. It helps in verifying and validating your customers’ details from the government database in which they are stored. For this, you must capture your customers’ biometric traits using a biometric scanner. You will then send their biometric traits to the respective government department database in which their biometric traits are stored. The application in the government’s server matches the biometric traits sent by you with the one available in its database to verify and validate the digital identity of your customers. This transaction happens over a secured API that interfaces your application with the government’s application. AI in cybersecurity systems ensures that the transaction requests between you and your customers and you and the government organisations are safely transported to the target systems without being hacked and stolen during transit. This makes KYC check fast, reliable and safe.
Background verification companies have also started using AI-powered biometric technology and have incorporated AI in cybersecurity system to provide robust verification and validation of digital identity of a person without compromising on the security of the data.
This helps in quick onboarding of your employees, customers, and business.
Thank you for reading this post, don't forget to subscribe to our AI NAVIGATOR!
Video Interviews
You can use facial recognition feature during video interviews to make sure that the respective candidate is attending the interview and is not substituted by any other person. This helps you to make sure that you procure right talent for your organisation.
Financial Sectors
Both banking and Non-Banking Financial Company (NBFC) has a tremendous need to secure their data and their customers’ data. To ensure this, they must verify and validate the authenticity of their customers and employees to prevent data theft, any potential frauds or organised crimes such as money laundering or money theft from your customers. They are harnessing the power of AI in cybersecurity along with biometric systems to have proper checks in place. This prevents them from saving litigation charges and improve the goodwill of the company in the face of their customers. It also helps to have proper compliance in place and improves the compliance confidence score.
The other areas where both banks and NBFCs deploy biometrics are cash withdrawal from ATMs, online money transfers, mobile bank applications, UPIs, digital wallet, voice payments, mPOS, and P2P transactions.
Ecommerce
Ecommerce sites are also making use of biometrics to improve user experience by using various biometric traits such as voice recognition, facial recognition, and fingerprint recognition. This avoids the hassle of remembering complex passwords as well as allows to order and purchase using voice recognition feature. It also secures the payment, identity of their customers, and their ecommerce account.
Tours and Travels
Travel agents and hotel accommodations are increasingly using biometric system to verify and validate the identity of their customers. This ensures safety of their customers and their organisation by avoiding miscreants or terrorists traveling using their service and accommodating their hotels.
Future of Biometric System
Sooner or later, you can expect multimodal biometric system powered with AI security replacing the present unimodal biometric system. This is essential to provide additional layer of security to verify and validate the digital identity of a person. This will make it tougher for the hackers to break through more than one system to duplicate the biometric data. It will also reduce the Failure to Enrol (FTE) and Failure to Capture (FTC) rates. In multimodal biometric system, you must at least verify and validate a minimum of two biometric traits of a person to qualify the biometric verification and validation process. This requires you to have multiple scanning options in place that helps you to reduce FTE and FTC. More complex biometric traits are being explored to make the biometric system stronger. Some of these include cognitive vetting such as response to a certain stimulus, respiratory rate, pulse count, identifying vein in the fingers, facial verification and so on.
About the Author:
Shub is the Co-founder & CEO Of PiChain. He is an Entrepreneur passionate about cutting edge technology that makes human lives better. He is on a quest to achieve Sustainable Compliance for 500 Entities by 2025. He has decade-plus years of experience in building and selling software for Finance and Regulatory compliance management. At PiChain Shub provides organizational leadership with his unique combination of business understanding and technical acumen.
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