Enhancing Trade Credit Security with Biometric Verification

Introduction

Let’s face it, doing business online has become, and will increasingly become more at risk with the advancement of new technology allowing fraudsters to create ‘false identities’. At 1Centre, we are dedicated to continuously enhancing security and preventing fraud when onboarding  trade credit customers. As part of this commitment, we are excited to announce the addition of cutting-edge biometric verification software to our market leading Anti-Fraud suite. This advanced technology, powered by AWS Face Liveness, verifies a user’s live presence during the onboarding process through video prompts, ensuring enhanced security and preventing fraud. Tailored to each of 1Centre’s four unique Sales Channels available to our customers, this feature adds an extra layer of protection to your trade credit operations. By incorporating biometric verification, we aim to provide a more secure, trusted and seamless onboarding experience, reducing the risk of fraudulent activities and ensuring that your business can trade with trust.

What is biometric verification?

Biometric verification is a security process that uses unique biological characteristics, such as facial features, to verify an individual’s identity. This technology ensures that the person trying to access a system or service is indeed who they claim to be, providing a high level of security and preventing fraudulent activities.

In the context of 1Centre’s customer onboarding process, biometric verification is integrated to enhance the security of user identification. During the onboarding process, users are prompted to take a short selfie video. This video is then analysed by Face Liveness to detect any spoofing attempts, such as using printed photos, digital images, or 3D masks. The technology ensures that only real users can complete the onboarding process, significantly reducing the risk of fraud.

By incorporating biometric verification, 1Centre offers a seamless and secure onboarding experience. This advanced feature is tailored by sales channel, allowing businesses to customise their security measures based on the level of risk associated with each sales channel. This improves the accuracy of identity verification. It also helps businesses maintain a high level of trust and security in their trade credit operations.

Introducing Face Liveness

Face Liveness is advanced biometric verification technology that plays a crucial role in enhancing security within 1Centre’s Anti-Fraud suite. This technology ensures that only real users can access services by verifying their live presence during the onboarding process.

Face Liveness works by analysing a short selfie video taken by the user. It employs sophisticated algorithms to detect various types of spoof attempts. These include printed photos, digital images, videos, and 3D masks. The system can also identify more advanced spoofing techniques, like pre-recorded videos or deepfake technologies.

Key capabilities of Face Liveness include:

• Detection of Real Users: Verifies that only genuine users, not bad actors, can access the system.
• Spoof Detection: Identifies and blocks spoof attempts presented to the camera, such as 2D photos, masks, and high-resolution videos.
• Bypass Detection: Prevents attacks that try to bypass the camera using pre-recorded or synthetic videos.

This technology is essential for maintaining the integrity and trustworthiness of the trade credit onboarding process. It also allows businesses to operate with greater confidence and security.

Key Features and Benefits

High Security:

Face Liveness offers robust security by detecting various types of spoofing attacks. It can identify presentation attacks using 2D photos, masks, and digital videos. Additionally, it detects bypass attacks involving pre-recorded, synthetic, and deepfake videos, as well as 3D mask attacks using materials like silicone, latex, and plastic. This comprehensive detection capability ensures that only genuine users can access your system, significantly reducing the risk of fraud.

Low User Friction:

The biometric verification process is designed to be user-friendly. Users simply move their face into an oval on the device screen, similar to taking a selfie video. The verification process is fast, delivering results in seconds. On-screen instructions and feedback guide users through the process, making it quick and easy to complete.

Managed Service:

This feature is fully managed, eliminating the need for infrastructure management. It operates on a pay-per-use basis with auto scaling capabilities, ensuring that it can handle varying levels of demand efficiently. Additionally, it provides audit images for manual inspection or audit trails, enhancing transparency and accountability in the verification process.

Why It Matters for Trade Credit Operations

Implementing biometric verification with Face Liveness significantly enhances security and fraud prevention during the trade credit customer onboarding process. By ensuring that only genuine users can complete the onboarding, businesses can drastically reduce the risk of fraudulent activities.

This technology can be tailored by 1Centre sales channel, providing the flexibility to customise security measures based on the level of risk associated with each channel. This customisation allows businesses to allocate resources more efficiently and apply appropriate verification levels where they are needed most.

Additionally, biometric verification reduces the need for manual verification efforts, minimising errors and speeding up the onboarding process. This leads to a faster, more secure onboarding experience for both the business and the customer. By automating these checks, businesses can streamline operations, reduce overhead costs, and enhance the overall reliability of their trade credit processes.

Overall, incorporating biometric verification into trade credit operations not only improves security but also enhances operational efficiency and customer experience, making it a crucial component for modern, secure trade credit management.

Ready to see how biometric verification can enhance your trade credit operations? 

Get in touch with us today for a demo and experience the technology in action. Discover how 1Centre’s advanced security features can streamline your onboarding process, reduce fraud, and provide a seamless experience for your customers. Contact us now to schedule your demo and take the first step towards a more secure and efficient trade credit process!

Read about the benefits for automating your trade-credit processes here.