Bridging The Gap Between Physical And Digital Identity With Technology

By Author: DIRO Original
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While the digital transformation is going at full pace, a lot of organizations and people are still relying on physical and government-issued identification documents. The world is slowly moving towards digital identity and digital documents and it takes a lot of time to create trust in people about digitization. The switch to digital documents and identities from physical ones tends to create a trust gap for identifying and verifying online documents. The gap is the difference between physical document verification with document holders present and on the other hand, relying on digital methods of document verification.

Identities and documents can be fabricated, and the services that create fake Identities and documents are also on the rise. The rise of technology has led to online bank account verification which reduces risks and increases customer trust in organizations. While the most common use of fake identities is to enter premises, criminals can also use fake IDs to accomplish tasks that require an ID verification such as online bank account verification. ...
... Fabricated digital documents can be used for activities such as financial crime, human & drug trafficking, and even terrorist funding using money laundering.

Difference Between Real or Counterfeit Documents?

Counterfeits are known to use real licenses or identification documents to create fake templates for fabricated documents. The services that offer counterfeit documents keep evolving constantly with the use of technology, they can copy laser engraving, making sure their fake documents look as real as possible. The reason why counterfeit documents tend to trick banks easily then there are only 5 reasons for that:

1. Public Awareness: Most people don’t even realize how big of an impact falsified documents can have, and even if they do understand, they don’t really care as long as they aren’t the ones being impacted. There is a lack of knowledge among people and no one wishes to put in time and effort for making a change.

2. Tough to Adopt: Governments work at their own pace and are under a lot of constraints to make the change to digital documents from physical documents.

3. Slow Evolution of Standards: Unfortunately, banks and other organizations don’t always keep up to date with the technology used by counterfeiters. Which is one of the main reasons counterfeiters are becoming better every day.

4. Price Evaluation: A lot of governments operate under limited funds that do not allow them to adopt advanced security features that would be useful in tackling the issue of counterfeit documents.

5 Lack of Advanced Features: Limited budget also means that governments often don’t ask about which design and security feature is best for governments to incorporate to improve privacy and security.

The whole trust gap needs to be mended by spreading awareness and evolving better technology. The major thing to do is to build trust in online services.

How Intelligence Sharing Can Help Bridge the Trust Gap?

It doesn’t matter if it is a Government or public sector, sharing information, intelligence, data, and knowledge to understand the risk and benefits of physical and digital identities. When institutions or sectors share information on fake identities and fake documents, they can be effective in detecting and reducing the risks of crime. Unfortunately, sharing this kind of information is not exactly a common practice and has to be improved.

Organizations and governments need to be transparent about the data they use and how they store customer information. Governments and industries need to work together to understand how big of a threat posed by fake identities and fabricated online documents. The major key to differentiating the trust gap is building trust in the customer’s minds, which can only be gained through transparency and sharing of information.

DIRO’s Document Verification Technology’s Role In Bridging Trust

DIRO has developed an innovative document verification technology that can help banks, financial institutions, and FinTechs verify documents from anywhere in the world. Using DIRO’s technology, it becomes really easy for banks, public organizations, and governments to bridge the gap between physical documents and online documents.

The award-winning document verification technology will help organizations to reduce their risk of getting fraud. The rise of technology is changing the way people work, and almost all businesses are switching to digitization. With digitization, comes digital documents, these digital documents need to be verified to make sure the businesses don’t fall prey to online fraud.

By using DIRO’s innovative document verification technology, documents and bank accounts can be verified almost instantly. This helps organizations in fulfilling the KYC & AML regulations, all the while reducing costs on manual document verification. DIRO’s technology also provides a strong proof of authentication, which can be used by users and businesses as original documents. DIRO completes document verification with automated user consent and impersonation checks.