The speed of digital transformation is increasing over time. Businesses are adopting more digital ways to comply with this speed. Among all of the other circumstances, Covid-19 pushed businesses to use virtual means instead of physical meetings so that social distancing can be practiced. Business meetings or conferences start using online video calling platforms. Also, businesses allow their employees to work from home or remote work. Now the worker can complete their office task by staying in their homes. Emails communication and project management tools. It was an effective way of managing tasks. The situation seems to be ok, but the problem was how they will hire new employees that were solved by employee onboarding video.
Employee Onboarding Video
It is an alternative or a modern way of recruiting new workers for a business. A candidate makes a video of himself, introducing himself, and shows his documents to the camera. This is a short video containing enough personal and educational information about a person. There is also a second method of engaging employees through onboarding video i.e. video interview.
The hiring manager connects on a live video call with the candidate and asks some related questions to him. In some cases, the documents are shown in real-time or sent by email. The HR department reviews the manager’s analysis and checks the document verification of that person.
But this employee onboarding video has many issues or fraudulent attempts. Some of them are discussed below:
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People can use pre-recorded video videos rather than live. A normal human can’t distinguish between real and fake ones. People do this to get themselves hired without any prior knowledge or experience.
With the rise in usage of Photoshop or video editing software, they are also used for spoofs. Scammers use AI-powered tools to create a lookalike video or copying a specific video. They can use another person’s video and can replace the face or alter other details into it.
The videos that are created using AI and ML-powered software and look like the exact copy of the real one are known as deep fakes. These videos are hard to detect as fake.
Fake or False Documents
As the documents are uploaded digitally there is no mechanism for verifying them. They are only examined by humans that are not secure. A criminal can join a company presenting fraudulent documents to it. If the business deals with finance like banks it can lead to serious problems like financial crimes (money laundering). He can steal other customers’ money or manipulate their financial records. He can also be a money mule who helps money launderers in converting their illegal funds into legal. This doesn’t stop here, if the regulatory bodies found this thing, the bank can be fined or sanctioned.
Know Your Employee (KYE) – The Solution
It is the process of verifying the identities of new employees through their id documents using AI-powered software. The verification software incorporates biometric authentication and document verification to give the most accurate results.
There are two ways of KYE:
1. Online Verification
In this method, the employee has to upload a picture of his verified identity document for document verification. The system will check the document through multiple parameters. This will eradicate any attempts of document forgery or photo shopped documents. The software examines the MRZ code and verifies its authenticity. For data capture, the software utilizes OCR technology. The essential details are selected from the image and validated.
For biometric authentication, the live selfie of the candidate is clicked and confirmed with the photo id.
2. Video Verification
This process is the same as the above but a human expert with software verifies the documents and biometrics over a video call. The results are delivered in real-time to the user and sent to the back office of the business.
Summing It Up
The trend of remote hiring is increasing but is not much secure. Companies should go to know your employee solution provided by the KYC services providers. The third-party verification software can be integrated into a business website through APIs. There is no necessity to install heavy software or have hardware for it.