Voice of the Industry

Making digital trust the main event

Thursday 2 June 2022 08:27 CET | Editor: Claudia Pincovski | Voice of the industry

Digital trust is the cornerstone for online transactions, but currently it’s broken. Callsign’s Amir Nooriala explains why it’s the focus of this year’s (IF) Identity First event.

‘Technology has forever changed the world we live in. We're online, in one way or another, all day long. Our phones and computers have become reflections of our personalities, our interests, and our identities. They hold much that is important to us.’ James Comey, former director of the FBI, makes a valid point. From social media to banking apps to internet browsers, countless aspects of our identity are stored on the digital devices that we always carry with us – devices that accordingly demand a huge amount of trust from us.That trust isn’t always forthcoming. In fact, it’s fair to say that digital trust as a whole is broken. Scarcely a day goes by when we don’t read about a new data breach, zero-day app compromise, or stories of fraud or scam victims losing everything.

A fragile commodity
Every single one of these incidents delivers a huge blow to any associated business – to the extent that, in a Callsign-commissioned study, 21% of scam victims will stop using a company even if it’s just namechecked in a scam. All the hard work that an organisation has put in to building a relationship with a customer and gaining their trust can be demolished in a split second.

Quite simply, customers hold organisations not only responsible, but accountable for protecting them from the actions of fraudsters and scammers. In the same report, 33% of fraud victims stated that they expected their banks to protect them from fraud; the number rose to 38% when it came to their expectations around retailers and merchants.

Hard to acquire, easy to lose – digital trust is a commodity that’s as rare and valuable as it is fragile. And unless businesses take serious action, that’s the way it’s going to stay.

Uniting the industry
In June 2021, the very first IF (Identity First) event took place, with the goal of bringing together thought leaders and key movers from the fields of industry and academia, to address the problem of broken digital trust. This online event, which spanned three time zones, included keynote talks from noted physicist Professor Brian Cox, and Apple co-founder Steve Wozniak, as well as sessions such as an industry panel led by Lord Jim O’Neill, the author of The World Needs Better Economic BRICs.

IF 2021 was an effective starting point for the conversations that need to happen in order to address the challenges around fixing digital trust, and those dialogues are set to continue in the second IF event in 2022.

With the focus on how both digital trust and accountability have not only become vital elements for any organisation that operates in the digital world, but key components in building a fairer, more equitable future for everyone, IF 2022 will take place on 21st June 2022 and will span three time zones.

Learning from the experts
This year’s speakers include James Comey, who was Director of the FBI from 2013 to 2017 – someone who has had first-hand experience of the value and reach of digital trust, the importance that it plays in our lives now, and in the future – and the ethical and legal factors that must be addressed. In his keynote fireside chat, James will be sharing his unique take on how we can build trust into our online lives.

That discussion will be built on in an industry panel led by Lord Jim O’Neill, ex-Chairman of Goldman Sachs Asset Management and author of the seminal economics paper ‘The World Needs Better Economic BRICs’. Joining Jim will be senior stakeholders from organisations such as Mastercard, Standard Chartered, Citi, and Ping An group – leading industry figures who will have much to offer on the role of banks and financial institutions in tackling the challenge of digital trust.

Another leading name who will be presenting at IF 2022 is renowned computer scientist Dr. Timnit Gebru, named in Fortune Magazine’s 50 Great Leaders. As one of today’s pioneering thinkers in the field of AI, Dr. Gebru will be examining how organisations need to ensure that they eliminate bias and ensure that AI technologies remain ethical.

And with brand reputation, a critical factor that hinges on digital trust, a leading Formula One Team Principal will be delivering a keynote on the opportunities that can arise from doing so – as well as the challenges that businesses face and need to overcome.

Everybody wants a stake in a fairer digital future, and the world is looking to the organisations who are building it to ensure that they make sure that accountability and ethics are at its core. That needs to happen transparently and visibly – and Callsign’s Identity First 2022 event will put digital trust under the spotlight.

IF (Identity First) 2022 takes place on 21st June – and it’s free to attend. Click here to register.

About Amir Nooriala
Amir Nooriala is the Chief Strategy Officer (CSO) at Callsign, responsible for the customer and partner strategy alongside sales. Previously, Amir has held roles including CSO and COO at OakNorth, Ops, and Tech MD at BGC, and has also worked at Barclays Investment Bank, Accenture, and Cisco Systems.

About Callsign
Callsign makes digital life smoother and safer by helping organisations establish and preserve digital trust so people can get on with their digital lives. The first true representation of identity online, Callsign positively identifies users by their unique characteristics, replicating real-life recognition signals with AI models. The only solution to identify people across every journey, channel, and brand, Callsign makes digital identification seamless and secure, helping drive business growth.

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Keywords: transactions , digital identity, data, identity fraud, scam, banks, retail, merchant, financial institutions, artificial intelligence
Categories: Fraud & Financial Crime
Companies: Callsign
Countries: World
This article is part of category

Fraud & Financial Crime


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