A Guide on how the Document Verification Process Works

Suppose you are running an online freelance platform and it is going great. A considerable number of people posting projects occupies the space and a decent number of freelancers also marking their presence there to complete these projects. You take sufficient commission from both the project owner and the freelancer. All is going great until recently when you face a chargeback request from a project owner.

You contact the relevant freelancer and in spite of a lot of emails and follow-ups, when the freelancer is not giving any green signal you decide to pay back the project owner from your own pocket. The entire situation has taken over you and you are amazed at what has happened to you and especially why? Nonetheless, in the time span of few days, you forget about the incident until it happens again and this time there is a number of project owners coming with the same issue.

Freelancers take the advance for the project and then play the disappearance act from the platform. And here you have yourself, confused and angry over the situation. The first thing that came to your mind is to eliminate the advance payment thing from the platform. But as you have designed a big part of your marketing on it and there are certain projects that require the payment in advance you are also unable to disable it. 

A few days later, after spending considerable time on the internet, an article on document verification crossed your eyes. And voila, while you read the article a satisfactory thought crossed your mind that your prayers have been answered. You understand the fact that it is significant to verify people before taking them on board. 

Document verification is the process of confirming the authenticity of documents. With the increased use of the internet all over the world, as everything else is happening digitally nowadays, similarly document verification also has become digital now.

There is software serving the customers with their digital document verification process. Digital document verification verifies the documents using the tools and software powered by Artificial Intelligence. They verify various types of identity documents. With their swift process and accurate result-driven services, they have become the best choice for a lot of merchants.

Online Document Verification Services

The digital services provide its customers with the unique and most advanced verification approach to help enhance its end-user experience. The most significant benefit of online document verification solutions is the reduced probability of online fraud. Before the arrival of valid AI verification software, there used to be a huge chance of online frauds specifically targeting the personal information of people. Because of this software, it has become easier to differentiate between the real user and a scammer, and thus the safety of the personal information of people is possible in document verification. 

Importance of Identity Document Verification

Before going into the details of the document validation services, it is important to know why businesses need document verification services. It basically serves two main purposes, it prevents online frauds from happening and ensures legal compliance. The significant aspect of the verification of documents is to ensure that the person behind the process is real and so preventing the scammer from verifying the documents and thus stopping him from committing fraud. 

Benefits of Online Document Verification Services

There are a lot of benefits attached to this process. The ultimate goal is to provide the customers and end-users with the best possible services. Following are some of its perks:

  • The first benefit that comes to mind when we talk about the verification process being done digitally is getting rid of the online fraud generally associated with it. It has a minimum risk of document fraud, spoofing attached to it.
  • People doing verification online rather than going to the offices carrying their documents has reduced the time of the entire process.
  • After verifying the documents online the authentication of the recurring documents becomes possible.
  • The process of digital document verification is valid by providing 90%+ accuracy so producing better results. 
  • Online document verification service verifies the document in real-time. 
  • Some companies are providing the services of chip-based identity verification through NFC technology in countries where chip-based documents are being used. 
  • By considering the privacy of companies dealing with highly sensitive data, the document verification service providers now facilitate their customers by installing the service on the server (a service called on-premises identity verification) so that the privacy of the end-user remains intact. 

Types of documents to be verified 

Almost all types of identity document verification that people used to verify manually in the past can now be verified online nowadays. Document validation services can be given to documents like national IDs, international passports and driving, and more. 

Step by step guide to Document Verification Process

The process of validating the documents completes in three steps:

  • The businesses need to take or upload the front picture of the id document to be verified on the verification site. 
  • After that in the second step, the data is extracted from the document by using the Optical Character Recognition (OCR) technology. 
  • In the last step, the information in the id document is verified and can be seen via the back office.

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