Online identity verification and the future of digital identity
As clichéd as it may sound, the only constant in today’s world is change. Disruptive innovation is intensely changing the business and social landscapes, transforming our lives in unimaginable ways. Technology has pervaded into all aspects of our existence, to the extent of defining who we are and validating we are indeed who we claim to be.
Paradigm shift towards rapid digitalization of businesses has provided impetus to defining and using digital identities, apart from its attendant online verification requirements. Thrust on digital identification is further augmented by factors such as financial, widening areas of operations, innovative product offerings that are medium-agnostic and staying ahead of the curve in warding off cyber frauds.
Central to the new ways of working is Digital Identity. Identity is a set of qualities and attributes that uniquely defines an individual or an entity. Conventionally, verification of identities is done through face-to-face modes, wherein physical presence of individuals and hardcopies of the documentary evidences are required. Apart from being non-inclusive, time intensive and prone to human errors, the process is not fraud-proof and certainly falls short of delighting customers.
Digital identity verification process, driven by innovative technologies, addresses the limitations of the existing offline modes, thereby transforming businesses in to future-proof enterprises. Digital identification substantially enhances the ability to build and securely maintain a digital identity, and more importantly to establish that the person requesting a service is the actual entitled consumer of the service. Why go the digital id way?
Increasingly, government and private organizations are providing services to their customers through digital modes. The more these services are rendered digitally, the more imperative it becomes to build trusted digital identities and perform secure validation of such identities at all times. The trust thus established works to the advantage of both the businesses and their customers – higher the trust, more the opportunities!
The future lies in harnessing the might of emerging technologies like AI and ML, to power the digital transformation strategy of the service providers – be it individuals, corporations or government agencies. A sound digital identification product will be the key asset in an organization’s digitalization roadmap. Rightly done, it promotes efficiency, increases revenues, enhances controls and reduces risk.
Digid is a leader in the digital identity management space. Its powerful AI-based verification engine enables authentication of customers in a quicker and efficient manner. In addition to ensuring compliance with the regulations, Digid reinforces security and assurance across various modes of interactions between customers and businesses that include verification of documents, images and videos.
“The pace of change and the threat of disruption creates tremendous opportunities…” says Steve Case, the former-CEO of AOL. While businesses world-over are gearing up for digital disruptions, Digid will be your go-to technology partner to transform these in to opportunities and help build an inclusive, secure and gainful world together!