Know Your Customers: the Power of Digital Identity for Financial Services

Instances of fraudsters using stolen identity information to open new bank accounts under a victim's name grew by 32% in 2022 according to the FTC, and this is just one of several challenges that organizations must contend with today. When financial institutions can accurately and easily identify customers at high-risk points across the customer journey, they have the opportunity to offer better digital services and expand digital ecosystems while improving security and cutting losses at the same time.