Image Courtesy of IdViewer LLC
The car rental industry loses millions of dollars every year due to identity fraud, which usually consists in scammers using false, forged or stolen identity documents and impersonating other individuals. People who have had their documents stolen and used in fraudulent schemes can be wrongfully prosecuted and arrested, and this leads them to sue car rental companies for not providing adequate protection against fraud.
To prevent fraud and associated losses, effective identity document verification featuring forensic document identification tools used by many police forces and immigration enforcement officials worldwide, in airports and other border control posts, can bolster the resilience, speed and efficacy of car rental company security.
The use of forensic document readers equipped with full-spectrum lights (870nm infrared, 365nm ultraviolet, incident white and coaxial white lights) makes it possible to verify and validate all security items of the documents provided by the driver, as well as validate biometric data in radio-frequency identification (RFID) chips, by cross-referencing the photo in the document, the chip and the client and converting the results into a forensic similarity score. In addition to being able to determine whether the document presented is authentic or not, it is possible to determine if the person who is renting the vehicle is the same as the one featured in the document.
International ID Template Data Base
It is important to keep in mind that, in order to reliably verify documents, it is necessary to have access to a comprehensive library of document models (over 12,000 models from over 240 countries) for cross-referencing purposes. Otherwise, the ID scanner is only capable of verifying very basic documents, excluding many types of domestic and international identification.
KYC – Know Your Customer Automation
In many countries, Know-Your-Customer (KYC) processes are required by legislation for many industries. They are essential in fraud prevention. KYC mainly comprises full identity document authentication, and identity document scanners are quick, precise and reliable.
One of the greatest advantages of using identity document scanners for KYC is their capacity to automate the process. Their use takes less time, is less prone to user error, and contributes to a better user experience.
In conclusion, identity document scanners are worth using for the following reasons:
- Automated document scanning has clear added value: it reliably seeks out personal data and effectively verifies them in a matter of seconds.
- They are much faster compared to manual data input. It only takes one or two seconds to process an entire document. A person would take much longer to manually process the same document for various reasons (having to type out all relevant information, filtering unknown or similar foreign names such as Kira and Kyra, etc.).
- They are less error-prone. Technology and algorithms work best when dealing with high-volume, repetitive tasks. There is no possibility of printing errors, so the data is kept clean and consistent throughout the entire system.
- They reduce the workload of frontline personnel. Working with high numbers of passengers/clients increases the possibility of error and the likelihood of ignoring suspect/fake identity documents.
- They provide an additional security layer. Identity document readers can also verify data extracted using various other methods. This provides extra protection to the business without requiring additional effort or extensive training.
- They facilitate maintenance of compliance. Adequate document scanners can verify any identification document from any country, speeding up the integration process and carrying it out according to local regulations.
These are just some examples of how automated extraction and verification of data from identity documents can help your company become more efficient and successful.
This technology, used by various police forces and border control authorities worldwide, can now be used by car rental companies. This makes the entire process safer for both companies and clients, improving their experience and preventing the loss of millions of dollars in preventable lawsuits.