The travel industry has changed dramatically due to technological improvements. As a result, travel agencies can better offer their services and boost consumer satisfaction. However, technological advancements have also raised the likelihood of many sorts of fraud in the sector. As a result, there are numerous hazards to the industry, including data breaches and lost or stolen security credentials. Identity verification can help reduce these risks to a significant amount if appropriately used.
In the early twenty-first century, international tourism began to gain popularity. As a result, travel is becoming one of the world's fastest-growing sectors. Travel and tourism increased 3.9 per cent faster than the global economy's 3.2 per cent growth in 2018, contributing $8.8 trillion and 319 million employments to the global economy.
The sector has shifted from a physical to an online presence as a result of technological improvements. Travel agencies can now give their clients more excellent service and security with less documentation due to advancements in technology.
There have been many advantages to digitalisation, but it has also boosted fraud. For example, online travel scams come in many forms. As a result, online identity verification now plays a far more significant role in the travel sector.
Importance of Document Verification:
During the client onboarding, document verification enables organisations to rapidly and securely verify new customers by validating the legitimacy of their identification documents. This is vital for companies that often deal with large transactions, including banks and cryptocurrency firms. When screening and validating new account applications, these companies need to know exactly who they are dealing with.
Document verification scans official papers such as bank statements, driver's licences, and passports for various security characteristics, including holograms, signatures, stamps, fonts, and other elements. More than that, the personal information contained in the documents, such as a person's name, date of birth, or address, can be verified and authenticated against third-party source systems. This is crucial for businesses that sell age-restricted goods and services, including wines merchants and car rental companies.
The Different Types of Travel Industry Fraudulent Activities:
In recent years, fraudsters have increasingly targeted the travel industry. As a result, several forms of digital fraud frequently occur in the industry
● Breach of Data from an Online Booking Platform
● Theft of Payment Details
● Changes in the Prices of a Hotel
● Buyers who make last-minute bookings
The Advantages of Document Verification for Travel Agencies:
Document verification Services can significantly contribute to the development of trust between travel agencies and their clients. Companies in the industry can adopt identity verification to protect the safety and security of their customers and their property before, throughout, and after travel.
1. Only legitimate customers can access your platform –
Whether you manage an online travel agency or only sell airline tickets, you need to ensure that genuine customers are only using your platform. A proper document verification system might benefit you.
2. Less documentation needed –
Advanced Document Verification Services with Biometrics reduce the need for consumers to provide additional identifying documents. Instead, they can use facial recognition technology to compare their clients' facial scans to any form of identification. According to a report, such document verification methods can reduce customer check-in durations at various checkpoints by 40%.
3. Customer Service –
Additionally, document verification services assist you in improving your consumers' online experience. When your customers learn to use cutting-edge identity verification technology, they will be more interested in purchasing your services to make payments through your web platform.