The Evolution of Identity in the Marketplace

Making sense of regulation and compliance requirements is a never-ending undertaking. As the identity landscape has evolved and expanded, so has the patchwork of data privacy, AML, KYC and other policies. With increased scrutiny from lawmakers, how can companies adapt to new laws and digital environments while still meeting requirements? And beyond understanding current legislation, what should businesses expect from future regulation?

Successfully separating malicious actors from good users lies at the heart of the modern digital marketplace. The continued rise in synthetic identities,breached credentials, forged documents, and faked biometrics cases shows innovative
technologies and new data sets are needed to create robust online security programs. As the holiday buying season begins, transaction volume increases bring additional import to building secure processes for both third-party sellers and consumers alike. We’ll examine how organizations properly vet all the myriad relationships to ensure trust and security is engrained in the value chain.

Consumers’ demand for seamless online experiences across all channels has never been higher. As companies grapple with delivering front-end speed while managing risk, consumers are becoming more focused on their data privacy and platform integrity. According to Trulioo’s Consumer Account Opening Report, 73% of consumers are likely to spend more money on a website where the service provider uses real-time identity verification as part of a fast and secure online opening process. The battle of security over speed is often contradictory; users want reassurance their information is secure, yet also don’t want the delay in being validated every time they interact online. A digital identity network may help alleviate this push-pull by using multitudes of data sources to balance access with risk. Here we discuss how this approach may help eliminate business frustration while keeping customers happy.