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Digital identity should focus on consumer, study finds

Friday 16 July 2021 13:15 CET | News

Adopting a consumer-centric approach to digital identity is a must for global organisations, according to a study.

A new industry report, released by Trulioo, a global identity verification company, and One World Identity, examines the nuances of digital identity verification. It explores how adopting a consumer-centric and layered approach to digital identity verification according to specific markets is a key component in reducing onboarding friction, increasing security, and forging stronger customer relationships.

The ‘Driving Consumer-Centric Digital Identity to Speed Financial Growth’ report explores how the orchestration of different identity proofing techniques and risk signals is critical in identifying bad actors and differentiating them from legitimate users. Orchestration utilises a host of alternative data sources that empower companies to continuously identify customers, reducing friction and providing a constant, clear view of customer identities. 

Highlights from the report include: 
  • The need for fraud, security, customer experience, and compliance teams to converge and eliminate data silos within organisations;

  • How to ensure compliance with evolving and disparate data and consumer privacy standards, and how being transparent about data collection increases consumer trust and comfort levels with information sharing;

  • The implications that adopting a consumer-centric approach has for companies in banking, travel, ecommerce and online marketplaces, healthcare and physical access management.


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Keywords: report, identity verification, digital identity, digital onboarding
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Canada
This article is part of category

Securing Transactions