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The Role of Liveness Checks in Fintech Industry

The Vital Role of Face Liveness Checks in the Fintech Industry

Author: admin | 29 Nov 2022

Businesses are embracing different biometric verification methods to safeguard and enhance security measures during financial operations from digital fraud, particularly during digital transformation. One such method is the 3D liveness check, which confirms the presence of a live person during authentication.

As financial institutions move toward digital onboarding and full-service platforms, accurate biometric verification is a more crucial process than ever. Spoof attacks and techniques are becoming increasingly sophisticated. These fraudulent activities result in financial losses and expose individuals to identity theft and fraud risk. Identity theft saw a staggering increase of 113% in 2022 alone.

Two decades ago, fingerprint authentication was considered a groundbreaking, highly secure method. However, this standard method can be easily circumvented using everyday items like Play-Doh or silicone masks. Defending against presentation attacks (P.A.s) within the financial technology industry becomes more accessible with a face-liveness check.

To truly understand the significance, impact, and limitations of face liveness check in the FinTech world, let’s delve deeper.

Face Liveness Check and How It Works?

Face liveness detection is an advanced method used to confirm the authenticity of a person; it conforms to whether a user is live during authentication, not just in a picture or video.

Face liveness uses 3D liveness checks of the face, using an AI-driven liveness detection model; this sophisticated approach is used during biometric authentication to authenticate someone’s identity, particularly in face recognition and security applications.

The rise in cyberattacks and financial scams is a severe concern for individuals and businesses. As per FTC’s sentinel network report, the financial toll from these activities is significant, and consumers lost $3.3 billion in 2020, a hike from $1.8 billion in 2019.

Active Liveness Checks VS Passive Liveness Checks

During an active liveness check, Physical signs of consciousness, such as eye movement and facial expressions, are based on Active Liveness Testing.

Sometimes, banking applications ask you to create an account by making a specific eye, lip, or nose gesture; this is passive liveness detection.

Tax evaders in China used deep fake puppets controlled by an app to hack the government’s active identity verification system in March 2021, costing the country $72.2 million.

Those verification system does not require any actions taken into account, like the skin’s texture and features, the amount of light hitting them, and any slight movements. Further, scammers are not open to passive liveness checks, and it’s very accurate.

For example, facial recognition technology typically performs a real-time scan using your device. The method only requires a single frame to determine if a character is real or fake.

The Importance of Face Liveness Checks in Biometric Security

In the financial sector, 3D and face liveness checks are essential for the security and integrity of user identities.  3D liveness checks are based on computer vision algorithms to recognize and validate facial features in three dimensions, making it hard for criminals to trick the system with fake images or videos.

If a person is actually present during the verification process, it can be determined by these checks. 3D Liveness checks analyze facial motions, depth, and texture. Face liveness checks, on the other hand, concentrate on spotting indicators of life in a face, such as blinking, eye movement, or facial expressions.

The fintech sector can greatly improve the security of its platforms and guarantee that only legitimate customers have access to financial services by combining these two techniques.

Without a 3D liveness Check, protection against presentation attacks (P.A.s) is all but impossible. In reality, these types of frauds steal money and endanger you by committing fraud in your name. During 2022, identity theft rose by 113%.

Defending against presentation attacks (PAs) in the financial technology industry is almost impossible without a Face Liveness Check. In reality, frauds like this result in stolen money and put you in danger by committing fraud in your name. Identity theft increased by 113% in 2022 alone.

Significance of Face Liveness Check in the Fintech World


Why Liveness Checks are Crucial in Biometrics?

Remember the iPhone X Face ID scandal from a Vietnamese cybersecurity company? The technology, which is supposed to resist the attacks, was hacked with the help of a hand-crafted mask, and this is not any joke.

Identity professionals state that someone’s identity is stolen every 2 seconds worldwide, as it is a silent crime. Businesses worldwide must invest in intelligent biometric systems to combat these fastest-growing crimes.

One advantage of using a face liveness check is its ability to fight spoofing attacks. Unlike passwords or PINs, which can be easily compromised, face liveness checks ensure the person is in real-time and live, making it much harder for fraudsters to fake or manipulate identities.

Businesses are investing in intelligent biometric systems to combat the fastest-growing crime; it can benefit in other ways.

  • Digital person’s onboarding
  • Access to online business operations
  • Automated Teller Machines (ATMs)
  • Time and attendance management systems
  • Digital check-ins
  • Different training programs

How 3D Liveness Checks Enhance Security and User Experience?

Facial liveness detection ensures that financial transactions are secure, accurate, and safe from identity fraud. It does this by providing the genuineness of the person making the transaction and preventing spoofing attempts.

Businesses can revolutionize identity verification by integrating liveness detection systems like Facia into existing mechanisms. They can balance security, cost, and efficiency without compromising user experience.

How Liveness Checks Enhance Security?

Implementing face detection technology has significantly enhanced security measures in various industries. Liveness detection verifies the authenticity of a user’s identity by detecting and preventing fraudulent attempts to access sensitive information or facilities. The benefits of facial liveness check include the following:

Battling Impersonation Attacks

Face Liveness detection acts as a powerful defence against impersonation and spoof attacks. Users demonstrate real-time facial movements, such as blinking or nodding, verifying the presence of a live person and thwarting attempts to use static images or videos for fraud.

Organizations can strengthen their verification process using presentation attack detection solutions that can be integrated into any biometric authentication system. Facial recognition technology with liveness detection performs 3D liveness checks using advanced biometric techniques like 3D depth sensing and eye movement tracking to mitigate presentation spoofs causing risks of impersonation and fraud.

Spoof Prevention

Traditional authentication methods can be vulnerable to spoofing techniques involving masks or impersonation. Face liveness detection provides added protection by detecting subtle facial nuances that are difficult to replicate using static counterfeits.

Dynamic Authentication

Active liveness detection provides dynamic authentication, unlike static methods like passwords or PINs. The verification process remains constant, ensuring high confidence in the user’s authenticity.

How Liveness Probe Enhance User Experience?

Liveness probes ensure the user is present and actively engaged in the face recognition process, reducing the risk of fraudulent activities.

Effortless Authentication:

Liveness checks simplify the authentication process; it makes the verification process as simple as taking a selfie. Users can verify their identity through natural actions like blinking, nodding, or smiling, eliminating the need to remember complex passwords or PINs.

Seamless Transactions:

With liveness checks, transactions become quicker and more streamlined. Users can complete their tasks without lengthy authentication procedures, making the process more efficient and convenient.

Real-Time Validation:

Liveness checks provide real-time validation, ensuring that users are promptly verified. This feature aligns with the fast-paced nature of digital interactions and prevents unnecessary delays.

Benefits of Face Liveness Checks In the Banking Industry

Liveness detection provides defence against spoof and presentation attacks by preventing deceptive efforts to trick security measures using “fake faces.

Customer Onboarding:

Facial liveness checks bolster authentication during customer onboarding by preventing identity fraud attempts. It also provides secure access to accounts, minimizing the risk of unauthorized logins or account takeovers.

Compliance and Regulations:

Financial institutions can adopt facial liveness detection as a part of a multi-factor authentication strategy to build a secure financial ecosystem. As liveness confirms the authenticity of potential customers, banks can meet regulatory requirements like KYC and AML. Liveness detection streamlines requirements like identity documents and proof of identity for all new accounts.

Fraud Prevention:

Liveness checks are pivotal in remote account management, offering users a secure avenue to access their accounts and conduct transactions remotely. This readiness probe streamlined the process and assures users of data protection.

During customer service interactions, face liveness checks validate customer identities before granting access to sensitive information or facilitating account-related actions. This active verification mechanism bolsters security measures while elevating the efficiency and Reliability of customer service interactions.

Smart Banking:

Face liveness checks at ATMs enhance user verification for cash withdrawals; it also helps mobile banking apps to leverage liveness checks to strengthen user authentication, ensuring only authorized individuals can access sensitive financial data and perform transactions.

Liveness Detection and Face Recognition

Organizations can enhance their ID verification process by integrating liveness detection technology like Facia into their face recognition systems. As the FinTech landscape increasingly embraces biometric authentication, it is reshaping the future of security and redefining facial recognition.

Forecasts predict a remarkable surge in spending on identity verification, with estimates indicating that it will surpass $18 billion by 2027 from $4.93 billion in 2017, showcasing an impressive Compound Annual Growth Rate (CAGR) of over 26%.

Data compiled by U.K. Finance reveals a doubling of impersonation scams in the first half of 2023. Fraudsters successfully robbed a total of £129.4 million from victims during this period. By comparison, the same period a year prior saw 14,947 cases of impersonation scams resulting in £57.9 million in losses.

These statistics highlight the urgent need to enhance the security of biometric systems in the finance industry, an enhancement best achieved by integrating face recognition technology.

3D Liveness Checks For Biometric Authentication

Fraudsters use tricky methods, like fake faces and other tactics, to try and fool security systems. That’s where liveness detection comes in.

Liveness detection is like a guard that watches over identity checks. It uses intelligent artificial intelligence technology that can tell if a live person is present or if someone is trying to use a fake face. Liveness detection makes sure that only real people have access to sensitive information.

It works alongside other security measures, like biometric authentication and face recognition systems. Together, they create a strong defence against fraud and protect our digital identities.

Liveness detection is a powerful tool in a world full of threats. It’s a blend of humans and technology working together to protect us from trickery and fraud. With liveness detection, we can trust that our digital interactions are secure and that our real faces are consistently recognized.

Facia’s Liveness Detection: Elevating Secure Authentication

  • Versatile Toolkit: Passive Verification, Face Mapping, and 3D mapping for micro-movement detection.
  • Customizable Modes: Active/Passive modes cater to diverse use cases, ensuring customer fidelity.
  • Seamless Integration: SDK-based solution for rapid verification (<1s response time).
  • Unrivalled Accuracy: Industry-leading rates: 0% FAR @ <1% FRR, 90%+ accuracy, FMR <0.2%, FNMR <10%.
  • AI Anti-Spoofing: Intelligent defence against mobile videos, masks, and more.
  • Certified Reliability: iBeta Level 1 Certified, robust protection against injection attacks.
  • Empower Your Security: Facia’s Liveness Detection for complete identity verification.

Facia offers a comprehensive Liveness Detection SDK, designed to seamlessly integrate into your systems. With our user-friendly API documentation, you can effortlessly implement and harness the power of Web SDK for enhanced security. Explore our SDK and dive into the API documentation to unlock a new level of protection against fraud and ensure the authenticity of every interaction.

Final Conclusion

Advanced facial recognition technology and biometric authentication systems enable businesses to ensure foolproof identity verification. These biometric systems rely on the unique traits of the human face, employing computer vision and artificial intelligence for precise face matching.

Liveness detection plays a pivotal role in this landscape, offering a definitive means to confirm the presence of a live person. As businesses continue to evolve, they must embrace cutting-edge facial recognition technology, incorporating active detection mechanisms and even multi-factor authentication. This commitment ensures the safeguarding of identities and the assurance of seamless, foolproof identification.

Experience the future of secure identity verification with Facia – Your Shield Against Unauthorized Access. Discover how our state-of-the-art solutions can revolutionize your security measures today.

Frequently Asked Questions

How does face liveness check improve security in the banking industry?

Face liveness check adds an extra layer of security to the customer verification process, making it more difficult for fraudsters to impersonate individuals or use stolen identities. By leveraging Facia, banks can accurately verify the identity of customers, reducing the risk of unauthorized access and fraudulent activities.

How does a face liveness check ensure a seamless onboarding experience?

Liveness check simplifies the customer onboarding process by eliminating the need for manual document verification and physical identification checks. Customers can complete the verification process conveniently and securely from their own devices, reducing the time and effort required for account setup.

Can face liveness detection detect sophisticated presentation attacks?

Yes, face liveness detection is designed to detect and prevent presentation attacks, such as using photos, videos, or masks to deceive the system. AI-Driven algorithms analyze facial movements, micro-expressions, and other dynamic features to differentiate between a live person and an imitation.

Does liveness detection protect against identity theft?

Absolutely. Face liveness check is a robust defense mechanism against identity theft, ensuring that only genuine individuals are granted access to sensitive financial services and accounts. By verifying the liveness of the user, it becomes significantly more challenging for cybercriminals to manipulate the system and carry out fraudulent activities.

Can face liveness detection be integrated into existing banking systems?

Face liveness detection can seamlessly integrate into banking systems and mobile applications. Financial institutions can leverage APIs and software development kits (SDKs) provided by Facia's identity verification solution to incorporate face-liveness check functionalities into their platforms.

Can't fraudsters bypass face liveness checks with sophisticated masks or pictures?

While traditional masks or static images may pose a challenge, advanced face liveness check systems incorporate multi-factor authentication, analyzing factors like eye movement, facial expressions, and texture to detect the presence of a live person, making it difficult for fraudsters to bypass the check.