Three Critical Pillars Are Vital for a Successful Digital Identity Verification Implementation: Watch the Webinar
On September 28, 2022, Incode Technologies and Frost & Sullivan jointly presented a webinar titled "Closing the Trust Gap to Transform Customer Experience". The presenters were Danielle VanZandt of Frost & Sullivan and Jonathan Andresen of Incode.
Danielle VanZandt is a Senior Industry Analyst on Frost & Sullivan's Security research team. She leads global growth-opportunity research, trend analysis, and market sizing for the commercial and public security practice, focusing on physical, cyber, and logical security technologies and their ongoing convergence as the security world digitizes.
Jonathan Andresen is Senior Director of Marketing and Products at Incode Technologies. Mr. Andresen joined Incode from Forcepoint in January 2022. He brings more than 25 years of experience in the enterprise IT and telecommunications sector, joining us from Asia, where he relocated in 2003.
The two presenters focused on the "trust" challenge facing institutions undergoing digital transformation, and the presence of a "trust gap". Specifically, organizations implementing Digital Identity Verification (DIV) and authentication platforms meet resistance from users concerned about personal data protection and privacy controls. This has adverse consequences for businesses: 40% of customers abandon onboarding journeys on digital channels without completing the process.
Among the ways to overcome this trust gap, VanZandt recommends that when organizations implement a DIV solution, they adhere to three critical pillars.
The three critical pillars
The first pillar is an improved customer journey.
- To avoid onboarding abandonment, DIV providers must implement fast, frictionless, and ideally contactless onboarding processes.
- This applies to every aspect of onboarding — not only biometric enrollment but also the enrollment of other onboarding data, such as identity documents.
- Wherever possible, all enrollment activities should run on the customer's own device and use advanced AI and machine-learning techniques developed by the DIV provider. This removes the need to send data to distant systems for processing by third parties or human manual reviewers.
The second pillar is long-term business scalability and new revenue creation.
- The DIV solution must let businesses scale up and out — not just adding users, but adding new capabilities as the company expands.
- The DIV solution should be evergreen, allowing new capabilities such as behavioral biometrics to be added effortlessly.
- The solution's expandability should support new revenue streams, such as new banking options, expanded gaming capabilities, improved healthcare services, and richer hospitality guest experiences.
The third and final pillar is inherent security and data privacy.
- Ease of use must NOT be achieved by sacrificing security or privacy.
- The DIV solution must be designed for privacy from the start, with security built into its core.
- Its design and architecture must support compliance with privacy laws and regulations in every region where the business operates.
- A well-designed DIV solution should limit human interaction with biometric data and limit or control third-party access.
- Query-based one-to-one identity verification is preferable to large one-to-many database comparisons.
Incode was delighted to work with Frost & Sullivan on this webinar, which offered attendees meaningful insights we now want to share with you. To watch the webinar recording, click the link below.
For more detail on the topics Danielle and Jonathan discussed during the webinar, please download the accompanying Frost & Sullivan executive brief, which examines closing the trust gap and the three pillars of a DIV solution in greater depth.