SmartSearch Partners with Daon to Enhance Identity Verification
UK-based AML specialist SmartSearch has recently collaborated with Daon, integrating the latter’s biometric identity assurance technology into its SmartDoc solution. This partnership aims to benefit SmartSearch’s customers by offering more efficient and secure onboarding processes while helping them meet regulatory requirements and combat financial crime.
The SmartDoc solution forms part of SmartSearch’s suite of digital compliance services, catering to businesses in sectors like finance, legal, property, and accountancy. It centralizes due diligence for onboarding checks and ongoing monitoring.
Improved User Interface for Enhanced Accuracy
With a focus on minimizing user errors, the SmartDoc solution combines authentication and AI-enabled biometric technology to validate identity documents, digitally authenticate customer identities, and deter fraudulent attempts. By integrating Daon’s advanced AI technology into SmartSearch’s existing features, the solution is designed to offer users an intuitive interface that guides them step-by-step in capturing accurate images of their ID documents and selfies.
The system automatically detects issues such as glares, blurs, or misalignments, which can cause failed verifications. This not only ensures more accurate results but also reduces the overall rate of user errors.
Increased Efficiency and Compliance
The integration with Daon’s technology aims to improve SmartDoc’s performance by increasing its first-time pass rates for ID checks, thereby removing complexities from the onboarding process. This minimizes the need for companies to conduct manual document reviews, thus enhancing their operational efficiency.
SmartDoc uses machine learning and Optical Character Recognition (OCR) to verify whether an ID document is genuine or altered. The solution also employs AI-enabled biometric facial recognition and liveness detection to identify and prevent the use of deepfakes or synthetic identities by ensuring that the selfie provided matches the user’s identity document and was taken by a real person.
This partnership ensures that businesses can maintain a robust risk profile and adhere to regulatory requirements more effectively, providing them with advanced tools to stay compliant in their respective industries.
