Identity Document Verification confirms the authenticity of an individual’s identification documents, such as passports, driver’s licenses, or national ID cards. This verification process is essential in financial services to prevent fraud and ensure compliance with regulatory requirements.

The verification process typically involves several steps:

• Document Collection, where the individual’s identity document is captured. Data Extraction where key information (e.g., name, date of birth, document number) is extracted from the document using Optical Character Recognition (OCR) technology. Analyse the document’s security features (e.g., holograms, watermarks, machine-readable zones) to confirm its authenticity.

• Cross-Reference Checks where the extracted information is cross-referenced against public or private databases for additional verification.

• By employing advanced technologies, Identity Document Verification can accurately and efficiently establish the legitimacy of identification documents, enhancing security and customer trust.