Global State of Identities

Optimize Identity Verification and Authentication

Todayʼs interconnected omnichannel ecosystems are driving a need for a more unified, holistic and persistent identity view that can be dynamically assessed across the customer journey.

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Digital Commerce Opens Opportunities for
Identity Fraud to Thrive

Identity Authentication
As digital interactions increase, fraudsters gain increasingly powerful resources to incubate synthetic identities and stolen identities with consumer personal information illicitly gained from large-scale cybersecurity breaches and scaled social-engineering campaigns. Synthetic and stolen identities are two of the most pervasive identity challenges contributing to the upswing in account creation fraud and account takeover fraud.

Identity fraud is flourishing due to wide disparities in consumer awareness of social engineering schemes and technical sophistication.
Omnichannel ecosystems provide fraudsters with an optimal and readily available framework to monetize stolen or synthetic identity credentials by executing fraud schemes at high velocities.

Static Fraud Approaches Aren’t Meeting the Dynamic Demand of Omnichannel Ecosystems and Complex Transactions

Static approaches to fraud are not sustainable for successfully and securely operating across today’s interconnected world. Customer journeys are no longer simply linear or specifically location based. Today’s interactions are dynamic, paced at the speed of an instant and often transpire across multiple digital, hybrid and in-person channels. An increasingly common example of this are transactions that begin in a mobile channel and end with a curbside pickup paid for via a digital wallet.

Assessing identity risk from a static or point perspective stifles the ability to capture a unified and more persistent view of a consumer across the dimensions of digital, physical and behavioral identity.

Combining Identity Verification and Risk-Appropriate Authentication Helps Achieve a Holistic Identity View

An identity proofing approach aligning identity verification and identity authentication helps optimize defenses against synthetic and stolen identities from a more holistic viewpoint across the customer journey. Better coordination of verification and authentication also helps organizations navigate a continually expanding list of policies and regulations designed to safeguard consumers. These protection policies are often region-specific and aligning identity verification and identity authentication enables businesses to apply the right controls to manage customer expectations and meet regulatory requirements.

Download the white paper for more insights on today’s identity challenges and the benefits of adopting a multi-layered fraud prevention approach underpinned by a more unified view of physical, digital and behavioral identity.

For more in-depth insights download the Global State of Fraud and Identity report and learn about the latest industry developments and perspectives to support a proactive fraud response.

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