Five factors driving investment in IDV

2021-02-25 05:30

With vast numbers of people forced online to access healthcare and financial services, purchase groceries and consume entertainment, the ability to verify and protect digital identity has become central to everyone's ability to survive and function during the pandemic.

Think about the millions of people that are now using digital services for the first time, whether that's shopping for groceries, banking and paying bills or accessing online healthcare services.

As organizations adopt digital transformation and biometric technology, it reinforces the need for stringent IDV to keep pace with innovation.

In order to support this sudden shift to remote working, massively accelerated by the COVID-19 pandemic, organizations are increasingly using identity verification and authentication, such as H&R Block verifying customers for tax returns, and government services needing to verify lawyers and notaries.

IDV is a massive barrier and deterrent here and, as remote working will become more commonplace after the pandemic, the need for robust IDV and authentication will remain.

In today's digital economy, every outcome depends on privacy and identity as a point of trust, a perimeter of security, an enabler of relationship management, and a means of service personalization.

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