The digital age has replaced the traditional greeting of a smile and a handshake with a quick click or swipe learning everything about the person before saying ‘Hello’. According to the research, roughly 60% of participants had positive dating platform experiences. Not only are financial services going digital, but one of the fastest-growing mobile verticals is dating. Despite the fact that it has been available for decades, the shift has resulted in an increase in the number of dating app users and the amount of time people spend on dating apps since the pandemic. While these platforms have made it easier to meet new people, online dating is a minefield, with no real incentive for users to be truthful in their profiles, resulting in a lot of bad first dates and, of course, serious dangers such as catfishing. Fraudsters are increasingly targeting dating apps and websites to catfish victims as well as steal money or blackmail them.
Romance Scams have been on the Rise.
Meeting someone online allows for a wide range of interactions, which encourages people to use the app more frequently to meet potential matches, resulting in greater benefits for businesses. It does, however, have its own set of drawbacks, as transitioning the relationship from virtual to physical is risky. People are easily swayed into lying about their age or impersonating someone else, soliciting personal information to commit fraud and account takeover, and 73% use photos of someone else rather than real photos of themselves, according to research. Users want to not only find the one but also to feel safe while using the app and know who they are speaking with. In fact, 1 in 10 online dating profiles are fake with ‘romance scams,’ so in a nutshell, 60% of all online profiles are fake.
The Dramatic side of Online Dating.
For the owner of a dating app, you must be aware of the requirements for safeguarding your users against bogus accounts. Your business, as well as your users, will suffer as a result. Not only has digital technology made dating easier, but people are falling in love with the person they think they are communicating with behind the screen. They start to believe they’ve found the person behind the dating app with whom they’ve been chatting for hours on end, but the unfortunate reality is that they’re being catfished. People reported losing nearly $117 million to social media scams in the first six months of 2020, a record high. Despite this, most social sites and dating apps do not have a process in place to verify user identity when creating an account or logging in to an existing account, so having an identity verification process in place to confirm all users are who they claim to be was required.
Three important accomplishments KYC assists you in…
1-Increase Safety by verifying users: When a user creates a profile, digital ID verification can verify the authenticity of a person’s age, gender, and nationality through liveness detection, as well as block users under the age of 18. As a result, users feel more comfortable speaking with someone once their identity has been verified. 2-Better User Experience:Enabling users to be confident that they are talking to a proven, real person reduces the chance of someone wasting their time on the platform, leading to increased engagement and brand trust. 3-Defend Brand Reputation: You have the responsibilty as the owner of an online dating site to protect your users from any online harm, whether physical, emotional or financial.
Avoid romance scams by connecting with verified users.
FACEKI provides online verification services to a wide range of industries in order to reduce the possibility of users being scammed or catfished by a user assuming a false identity, FACEKI has the potential to significantly improve online dating safety. To build a strong membership base, dating sites and apps must cultivate trust with users and make them feel comfortable putting their hearts and personal information on the line. With identity verification solutions, we help you protect your users from online criminals, increase security, and give users confidence that they are speaking with a verified, genuine person, resulting in increased engagement and brand trust. Additionally implementing Artificial Intelligence helps your business save money and cut costs. We recommend that you use identity verification solutions that allow users to use the Identity Verification solution to verify each profile, ensuring a seamless experience for your users, increasing acceptance rates, and preventing scammers from breaking their hearts.