Part of our online mortgage and insurance platform uses facial recognition to help us verify your ID. We have to do this in orde to comply with anti-money laundering and prevention of terrorist financing laws and regulations.
If you make an application for a mortgage or insurance through yes.ie you’ll see the process for yourself, from a user perspective it’s very simple and straight forward, on the back end of our system is where the magic happens.
We take visual data from ID’s, pictures of you and other documents and then artificial intelligence will check all of these things against one another to verify and double check every data point which also requires machine reading and software that will see if differing faces match one another.
There is liveness detection and several other checks that are carried out, this is important given that by some estimates that about 40% of internet traffic is bot-driven. If you have any questions feel free to call us and we can help you with your mortgage application or insurance application.
Facial recognition is simply one of the tools we use to reduce false users and to ensure that by reducing manual work that we can offer clients better services by focusing on the aspects of your application that matter to you while keeping hackers and ‘the bad guys’ in general locked out of the financial system.