Identity Checking. For many of us, the first time we obtained an official identity was through a social security system, driver’s licence, a passport or other official documents. Since then, identity has evolved.
With the introduction of improved authentication regulations, identity checking has progressed. In today’s hyper-connected world, aspects that cover user verification, reducing fraud, checking identity theft and enabling identity checking services are some of the main focus points for businesses, regulators and government bodies.
What propels the future of identity?
Today, access management and identity checks has changed the way businesses interact with their customers. Digital transferable identities that are amply supported by strong regulations and technology, like biometrics, are reshaping the identity checking industry.
Largely fueled by convenience and the availability of data, a recent survey indicated that over 74% considered biometric security to be the future of identity checking, tackling identity theft and identity card checking.
Survey: Future of Identity by Experian 2019
Digital identities offer a unique, high-assurance, consent-focused verifiable identification that marries a number of credentials, like facial recognition and liveness detection, to work securely and act as an identity checking service.
To truly empower the client, businesses need to ensure that the product carries user value and control, privacy and security. Infringing on a user’s privacy or security can increase the chances of an identity theft or fraud.
For businesses, identity theft means losses, highlighting the need for companies to carefully leverage identity checking services and identity card checking.
How digital identities enable a more secure space
Digital identities offer a unique, high-assurance, consent-focused verifiable identification that marries a number of credentials, like facial recognition and liveness detection, to work securely and act as an identity checking service.
To truly empower the client, businesses need to ensure that the product carries user value and control, privacy and security. Infringing on a user’s privacy or security can increase the chances of an identity theft or fraud. For businesses, identity theft means losses, highlighting the need for companies to cautiously leverage identity checking services and identity card checking for user verification.
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Identity theft and fraudulent scams have transformed into widespread, yet sophisticated activities - sometimes exposing a user’s identity multiple times across several channels.
Identity fraud reached a record high of 190,000 cases in the United Kingdom, highlighting the need for strong identity checking services that focus on biometrics-backed identity checking and systems that supports checks for identity theft.
Why trust matters - and what companies need to do
Greater assurance that a user is indeed who they claim to be will create and nurture trust across a business community. Companies need to actively adapt themselves to the changing face of technology by evolving from more traditional methods of identity checking. Innovation in the fields of blockchain, checking identity theft, biometric authentication, and identity card checking have raised the bar.
“The path to establishing thorough and trusted digital identities hasn’t been faultless. As a digital economy, we’re still reliant on usernames, passwords, and security questions as a way to identify an individual,” an Experian report highlighted.
By evolving from the traditional, single-source identity that carries inherent flaws, the rising number of digital identity platforms and identity checking services create real advantages for its users. They enable better control, advanced identity checking, a higher level of transparency, ample security and checks for identity theft.
Passbase offers ID verifaction for over 150 countries. Read more passbase.com
The Passbase product uses facial recognition technology to enable customers to create a universally trusted digital identity, providing them the option to reuse it anywhere on the internet again to authenticate themselves. The user gets to decide what data to share and whom to share it with.
The Passbase platform also provides companies the option to check the accounts tagged to all its users, which will help them sift through and remove fake accounts within the company’s database.
Biometrics and the future of digital identity checking
Today, most passwords and usernames are augmented with some form of biometric login as part of the identity checking service. This is largely because biometrics are unique to an individual and are significant towards identity card checking and building resilience against fraud.
Better yet, three in five people trust biometric identification to be more secure than the existing system of passwords - ones that include emails to social media log-ins. With weaker password systems, checking identity theft and user authentication processes are not as effective - making the user’s sensitive data vulnerable to theft and misuse.
For industries that authenticate their clients based on identity card checking, biometric data will be crucial to maintaining stronger security and enabling a robust identity checking service.
“Right now people are still wary of biometrics: Does it give too much away? But people are voting with their fingers – millions are already using fingerprint to secure their phones,” an NCS report emphasized.
Over time, users would be inclined towards a single, highly secure and trusted digital identity platform that gives them greater control over their data, while maintaining high benchmarks for checking identity thefts. Organizations are driving towards more customer-focused services and products today, making data security and its protection crucial.
With the United Nations and the World Bank focused on providing a digital identity to every person over the next ten years, digital identities are here to stay - and its future hinges on building digital trust, privacy and security.
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