4 ways to perform document-based KYC checks with OCR and AI
Document-based Know Your Customer (KYC) checks involve verifying the identity of a customer by analyzing their government-issued identification documents. Here are four ways to perform document-based KYC checks using Optical Character
Recognition (OCR) and Artificial Intelligence (AI):
Automated Document Verification: This process involves capturing images of the customer's ID document, processing it using OCR to extract relevant information, and then using AI to compare the extracted data against the database of known document types and templates. This method can also use biometric facial recognition technology to match the photo on the ID with the customer's face.
Liveness Detection:
Liveness detection is an AI-powered technology that ensures the customer's ID document is being presented in real-time, and not a fraudulent copy or a previously used document. This process uses various AI algorithms to detect and prevent facial spoofing attacks, such as presenting a photo instead of a live face.
Identity Verification
AI-powered identity verification involves verifying the customer's identity by analyzing the information on their ID document against various data sources, such as credit bureaus, public records, and watchlists. This process can also use machine learning to identify patterns and anomalies in the customer's data and behavior to detect potential fraud
Natural Language Processing (NLP)
technology can be used to extract information from unstructured data, such as handwritten notes on ID documents. NLP can also analyze the language used in documents to determine if they are genuine and match the expected patterns for the document type.
