INFOGRAPHIC important consideration in choosing identity verification solutions , the increased number of manual checks should be a red flag for the industry .
Business representatives also note the problem of incomplete databases of document templates . As a reference , 48 % of companies say they face challenges during the customer onboarding process because they don ’ t have all the needed document templates at hand .
“ The expansion of the global migration and digital nomad community , in particular , has highlighted the need for businesses to work with extended databases with a wide range of document templates , including rare specimens ,” said Henry Patishman , Executive Vice President of Identity Verification Solutions at Regula .
“ Failure to do so may increase the risk of fraud since the lack of templates may lead to less accurate and thorough document verification checks . That is why we consistently update our database , which has now reached over 12,000 document templates from 247 countries and territories , to boost the capabilities of Regula Document Reader SDK .
“ Since Regula experts have extensive knowledge of what security elements should look like , based on present documents , all possible IDs can be easily verified and even the most sophisticated fraud can be promptly detected with our products .” �
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