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Digital Age Verification Latest Trends for Businesses

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Ben Zane
Digital Age Verification Latest Trends for Businesses

Many businesses are unaware of the importance of age verification and what it holds for a business. It can prove to be fatal for the business if proper age verification checks are not employed. UK gambling firms paid £19.6 million fines for catering to underage gambling on their platforms. 

The regulatory authorities are introducing strict age verification regulation to curb the risk of underage gambling. Authorities take such a matter quite seriously and if found non-compliant with such measures, businesses can face a lot of consequences. The UK’s gambling commission reformed the identity verification and KYC regulations for businesses to add age verification requirements. The new regulations require online businesses and gambling websites to verify the identity of all their clients including their to ensure that they are not onboarding minors and exposing them to unsuitable content. The regulators have also asked the businesses to verify the previously registered clients. 

The latest trends show strict changes in age verification. Businesses should get in-depth knowledge about the age verification process and what are the latest trends in the industry to ensure smooth compliance with the regulatory measures. Several businesses are opting for software for a swift and secure age verification process. Continue with the blog to know more about the latest trends of digital age verification for businesses. 

 

What is Age Verification? 

Online age verification is a process through which the person’s identity is verified to ensure that the information regarding their age is authentic. This is done to ensure that the person is of legal age and no minor is being exposed to the age-restricted product or content online. The process can be carried out manually as well as digitally. The manual process is not as authentic and has a chance of error whereas the digital process is robust and ensure swift age verification even remotely from around the world to cater to online businesses and has become the latest trend in the age verification industry. 



Age Verification and how it Works 

Age verification online a prompt process that can be performed within seconds. This helps to not only minimize the chance of the error but also reduces the time and effort spent by the compliance officer. 

 

All the end-user has to do is submit a picture of their identity document which contains their date of birth. The AI-powered system then screens the document and ensures its authenticity. Once the document’s authenticity has been ensured the age of the end-user is verified. The-powered solution is trained on various types of ID documents and is able to capture any fake, stolen or altered ID document. 

Why Businesses Need Age Checks

 

Compliances 

The major reason for the business to be vigilant of the minors posing as adult customers is the regulatory requirements. The regulations in many countries including the UK and the USA have made age verification compulsory for some businesses and non-compliance results in huge penalties including the permanent closure of the business. 

 

Social Responsibility 

Businesses have a social responsibility other than reaping the monetary gains. The businesses focused on earning money are devalued and eventually lose their customers. It befalls the businesses to respect their cultural and social norms and fulfil their responsibilities regarding that. Serving minors without ensuring that they are not being violated by getting exposed to age-restricted content, product, or service is one such responsibility. 

 

Fake Identities 

Sometimes, minors use their parents or guardian’s identity cards to purchase products online. When the parents realise that, they reverse the transaction and the business is left to face the loss. This is why the businesses must perform identity verification and age verify their clients so such type of incidents doesn’t occur. 

Wrap it up

To sum it up, the age verification solution based on AI-powered software is the latest trend with its myriad of benefits. Many businesses can opt for a robust age verification solution to simplify their customer onboarding procedure. This ensures smooth compliance with regulatory measures and enhances the procedure so no extra time is wasted on it. The customer’s identity verification ensures secure businesses operation and assists the entity to meet their social duties.

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