The internet has grown beyond our expectations in our modern world. It has become a part of our lives and is used for more than just entertainment. Now, we shop online and even manage our finances there. But sometimes, they require identity verification. What is identity verification, though?
Identity verification is like meeting someone in person to make sure they are who they say they are. Someone goes through this process to make sure they are who they say they are in the internet world. You may have thought how that Facebook friend, online store, or bank knows you’re not a fake. It’s because of identity verification.
In this article, we’ll embark on a journey to demystify the concept of identity verification, exploring its significance, methods, and the technologies that make it all possible.
What is Identity Verification?
Online, “What is identity verification?” is a commonly requested question. Most people don’t know about it, even though we encounter it regularly.
The process of confirming someone’s true identity is called identification verification or ID check. How does it operate? It functions by responding to inquiries or by utilizing biometric technologies—facial recognition and fingerprint scanning, to name just a few—among many more.
Enhancing internet security, trust, and legal compliance are the major objectives of this technology. It lowers identity theft and fraud by preventing unauthorized users from accessing personal accounts.
Why Does It Matter?
Let’s break it down a bit more. Why does identity verification matter so much in our digital lives?
1. Safety First
Things can get chaotic online. These online criminals and con artists are there, waiting to wreak havoc in the shadows. Identity verification can be compared to a digital suit of armor that shields you from fraudulent activity, identity theft, and other risky online actions.
2. Trust is the Glue
The entire online community is based on trust, as it’s the glue that binds the online community. It’s simpler to interact with someone you’re confident is who they claim they are when you’re doing business online. It elevates online interactions and transactions above simple utility.
3. Rules and Regulations
Some sectors of the economy, like finance and healthcare, have very strict legal requirements that must be met. Verifying people’s identities is one of those rules; this is not just a wise practice, but it’s also required by law. This keeps those horrible fines at bay and helps to keep everything in conformity with the law.
Methods of Identity Verification
1. Knowledge-Based Verification
They ask you several private questions when registering an account, including your mother’s maiden name or the name of your first pet. This was originally the recommended method and is referred to as knowledge-based verification. The problem is that it isn’t as stable as it formerly was.
Owing to the proliferation of personal data on the internet, these inquiries might not be the trustworthy gatekeepers we always believed them to be.
2. Biometric Verification
The exciting part is here! Your distinct physical or behavioral characteristics are what biometric verification uses to confirm that the person is, in fact, you. When you unlock your smartphone with your fingerprint or face recognition, you’ve undoubtedly observed this. Like your smartphone says, “Hey, I recognize your face, and I’m pretty sure it’s you!”
3. Two-factor Authentication (2FA)
You’ve probably seen this before. By fusing something you own, like your smartphone, with something you know, like a password, two-factor authentication (2FA) offers an extra level of security.
4. Document Verification
When enrolling for a service or opening a new bank account, have you ever been asked to take a photograph of your identification? We refer to this as document verification. It is like having extremely intelligent computer systems that could affirm the authenticity of your documents twice.
5. Blockchain Technology
Now, this one is more contemporary than the others. Some companies who think ahead are already stepping into the arena of blockchain generation for ID checks. It is more secure when managing identities and lets you be in more control of your info.
The Future of Identity Verification
1. Biometric Innovations
Although people use face recognition and fingerprint worldwide, it holds more promising features in the future. By then, it will be safer and more precise. They might even introduce behavioral techniques like retinal scanning and more.
2. Blockchain Integration
While the blockchain identity verification method is not yet common, it might be in the next few years. Thus, people will have more control over their data, and if that happens, more effort will be put into making decentralized solutions better.
3. Developments in AI and Machine Learning
As these businesses grow, fraud detection and identity verification will become more precise. These systems can discriminate between authentic and fraudulent efforts to gain access as they become more sophisticated.
In the future, identity verification might be used in many areas of our lives. Imagine entering a store and letting your identity be checked without a second thought. This might apply to travel, online purchases, and various other interactions.
Even though it sounds complicated, identity verification is for our gain. It guarantees we are logging into our accounts and not somebody else. It’s our trusted friend in a world where we don’t know who is who and who wants to gain access to our private information.