Human resources managers are increasingly relying on next-generation technology like Artificial Intelligence (AI) for background verification, as the ongoing pandemic has rendered physical and paper-intensive techniques of authentication and verification, almost obsolete. AuthBridge Research Services founder and CEO Ajay Trehan told Tech Observer's Nisha Kumari that the world is becoming increasingly data and technology-driven in the post-pandemic world.
“From resume parsing to interview scheduling and tests to digital verification and onboarding, AI will have an impact on every element of employment. One of the most popular trends in the aftermath of the pandemic is remote identity verification in real-time,” Trehan said, adding that the hottest solution right now is API-driven vaccination verification that is helping businesses build back trust with employees and customers.
What are the emerging trends in background verification that businesses should monitor?
Our world is becoming increasingly data and technology-driven. HR Tech is the next big revolution that is impacting background verification businesses in a big way. The use of AI will impact every aspect of hiring, from resume parsing to interview scheduling and tests to digital verification and onboarding. Remote identity verification in real-time is one of the top trends that has caught on in the aftermath of the pandemic.
Similarly, in the absence of physical contact and new fraud and risk scenarios, an increasing number of employers will opt for the re-verification of current employees. The use of social media is emerging as a top trend as is the rise of scalable solutions to authenticate gig employees. The hottest solution right now, however, is API-driven vaccination verification that is helping businesses build back trust with employees and customers.
What roles do technology such as artificial intelligence, machine learning, and data analytics play in employee background checks?
Technology is the essence of any modern background verification and onboarding solution. Without automation, real-time results, and process efficiency driven by technology, a solution can simply not scale. This is counter-productive for a company that spends money on background authentication with the intention to hire and onboard faster and better. This is especially true in the aftermath of covid-19 that has made physical, paper-intensive processes almost obsolete. Customers and candidates want businesses to find them where they are, and technology enables that.
Numerous businesses have encountered difficulties as a result of the pandemic. How did you deal with it?
Our challenges have not been any different from many organisations but what has helped us stay afloat and even thrive is the resilience, determination, and strength our team has collectively shown. There is no other way we would have been able to survive this. At AuthBridge, only 30% of our 1000+ workforce had laptops before COVID -19. Today, 100% of our workforce has been enabled to work remotely. And we achieved this within the first two weeks of the pandemic.
Our operations were hit severely at the beginning due to lockdown restrictions since a lot of our clients at that time depended on physical verification processes. COVID-19 has been a silver lining in a way because almost 90% of those clients have now shifted to our tech-powered, digital authentication and onboarding solutions that we had started building way before the pandemic. These easily integrable solutions, in many cases, yield real-time, database-driven results.
What are your business projections for the sector in which you specialise?
With a renewed focus on digital infrastructure and data analytics and increasing awareness of the importance of smooth onboarding journeys towards long-term business relationships, authentication and onboarding are entering a whole new era.
While we have made our mark in providing best-in-class workforce solutions; our proprietary databases are only going to get richer and our tech capabilities stronger with our foray into BFSI and business solutions. A strong market presence and infrastructure in India and abroad positions us uniquely to cater to global clients, a move that we are confident will establish us as the global leaders in authentication technology in the years to come.
What are the expansion plans for AuthBridge? What are your growth expectations for this year?
We are looking optimistically at making a foray from B2B to B2C with customers directly engaging with our Authentication technology. As laws around data privacy evolve, the onus of verification is bound to shift from businesses to individual consumers. One of our top priorities right now is to push the boundaries of innovation in the B2B space with a SaaS-based version of our Authentication products. This move will enhance the customer experience to a great extent and make Authentication an easily integrable layer in the B2B enterprise stack.