Digital Identity Verification Trends
Digital identity is part of our online lives.
Technology that allows users to reliably identify themselves and demonstrate who they are is now more important than ever. Digital identities are meant to solve problems while also assisting in the ability to onboard new customers while reducing physical requirements.
The concept of digital identity has evolved.
A digital user is no longer just a number, but rather a complex set of attributes that enable them to be identified unambiguously, such as network activity or biometric characteristics.
When it comes to digital identities, businesses’ perspectives are shifting.
It is no longer just a function dependent on departments like IT, but rather a strategic involvement of all areas of the company.
The demand for online trust will continue to be driven by consumers.
As the world becomes more digitized, consumers will continue to drive the demand for secure online transactions. When using an online financial service, 68% of consumers believe it is critical to use a digital identity to prove who they claim to be.
Customers want more security.
Users are willing to provide personal information during identity authentication if they know it will be handled properly. They want to know what it will be used for, why it is being requested, and what security measures are in place to protect it.
Educating users on best practices for online identity verification is necessary.
Users must understand how to reduce their vulnerability to fraudsters so that they can share responsibility for security. Many people are still unaware of the risks of publishing certain information on social media, for example. Nonetheless, the use of digital channels and the risks to which they are exposed differ by age group.
Machine learning and artificial intelligence, enable us to improve digital security.
However, they also pave the way for increasingly sophisticated fraud and crime, such as deep fakes.
The most secure method of validating the user is through digital identity verification.
Advanced technologies, such as facial biometrics, can quickly and easily identify the person on the other end of the screen.
Face recognition will continue to play an important role in the adoption of digital id verification solutions.
In fact, 70% of organizations consider facial biometric recognition to be the most secure digital identification solution. FACEKI’s AI-powered facial recognition service, for example, ensures accurate identity verification and fraud prevention by authenticating and verifying human faces.