With the growing need for digital innovations, the world has seen tremendous transformations in recent decades. The growing and ever-evolving customer demands have pushed businesses to adopt more ingenious methods. Now customers do not accept a minimum delay or error but shift to another business instead. Unhappy customers cause revenue cuts and a bad brand reputation.
Remote Services – Banking on Customer Needs
Customer comfort is the primary motive of businesses. That’s why they have made themselves much more flexible to utilize new technologies easily. Remote service providing is the utmost customer requirement. They don’t need to visit the company office for the processing of their requests. The best example of it is mobile banking or digital wallets. Now, customers can make payments for online purchases, transfer funds or pay utility bills with just one click. Before that, they had to visit the bank office for funds transfer or cash withdrawal. Now, a smartphone is like carrying a whole world in your hands. A person can place an order, pay the bill, trace delivery and review it using a mobile phone.
Likewise, the customer identification process is also modified and digitized. Now customers do not have to meet a bank employee for their verification. It is done by facial recognition and document verification of the end-user. When it comes to identifying a customer uniquely, biometrics (face) proves to be a solid security measure.
NFC Integrated with Biometrics for IDV
Be it a hospital or financial services provider, every industry needs to confirm its customer’s identity. To deter fraud and onboard only legitimate customers, the significance of identity verification is rising. Traditionally, businesses use usernames for identification along with passwords. But this method was not that secure and had good chances of cracking. So, enterprises shifted towards biometrics (fingerprints and face) to address the problem. Users are now authenticated by matching the stored biometrics with the new ones. Now, almost every online user has used biometric verification once. In 2020, the global biometrics-related technologies market world worth was 19.08 billion.
In recent years, facial recognition has replaced fingerprints because of touchless convenience. Also, the social distancing SOPs of Covid-19 has increased its demand.
Understanding NFC a Bit Better
Near field communication is radio frequency-based technology that is used for contactless transmission of data within a closed range. It is an alternative to card payments where customers can transfer the payment by a tap. It is mostly used in point of sale terminals for making transactions from mobile wallets.
NFC technology uses short-range radio signals for connection and data transmission. Two NFC compatible devices need to be approximately 10 cm close. It is similar to Bluetooth but with higher security and communication frequency. There are more than two billion NFC based devices in today’s world and most of them are mobile phones.
NFC-based Biometric Authentication
Numerous countries are integrating NFC chips into national identity cards, driving licences and international passports. It makes the data extraction and verification process more suitable and safe. Just in case, when a passenger has to verify his passport for travel onboarding. Time is wasted on passport scanning and verification as well as airport security staff has to manually check the passport and confirm the passenger identity. But now, NFC scanners can scan, extract and examine in seconds. It gives the verification results in real-time making the onboarding process quicker and reliable.
As identity verification is mandatory for financial institutions, they can perform it more safely by capturing data through NFC chips rather than typing it in. The customer has to take his ID card near his phone and the data will be uploaded to the verification software. Then, he has to upload a picture of the same identity document. The verification system will match data from both inputs. It will perform facial recognition on the photo ID. By doing so document verification and facial recognition will become robust.
NFC based biometric verification is the futurist approach towards identity authentication. The chances of hacking NFC data are negligible, thus giving additional security to the verification process. Businesses that are using other ways of IDV can go for NFC technology and can have a better position in the market.
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