In Today’s fast-paced 21st-century world, identity is an increasingly fragmented and ambiguous concept. Identity theft and identity fraud are more common than ever, and these crimes cost online retailers and companies millions of dollars every year. In this day and age, identity authentication is of the highest importance, as more and more criminals seek to exploit online systems to hack into accounts and profit from identity theft or online impersonation. That’s the bad news. The good news is that right now, in 2013, identity authentication management and identity authentication services are perhaps more advanced than ever before. Identity authentication works to verify and authenticate the identity of people online. In the online world, it’s often difficult if not impossible to determine that someone is truly who they say they are. That’s where identity authentication management comes in. By using advanced tools and techniques, identity authentication companies are able to verify the identities of users at online retailers and web-based businesses like insurance companies, healthcare companies, and financial institutions, among others. Identity authentication is at the heart of online security. If you do not know who is buying from you or using your services; then what do you know?
Identity Authentication Services
Identity fraud is the fastest growing crime in the United States of America. Not only does this crime result in ruined lives and reputations, it also results in heavy revenue losses for companies around the world. Every day, roughly 2.2 billion people use the Internet. That’s 2.2 billion identities accessing information, putting in passwords, creating new accounts. With the global explosion of the popularity of the World Wide Web, it’s necessary for companies to use identity authentication services to help increase security and simplify workflow. There are a wide variety of identity authentication services available today. Many identity authentication services involve a large pool of data and information that can be accessed to verify identities and make sure that users are indeed who they say they are. Data linking and analysis services must be used in conjunction with the data in order for identity authentication services to be effective. Another thing that companies should consider is that new governmental regulatory demands implemented after 9/11 require that financial institutions work to verify and authenticate the identities of their customers. In order to meet these regulatory demands, companies need to employ identity authentication processes that are in compliance with governmental regulations.
Managing the User Experience
Another important aspect of identity authentication is the user experience. It’s vital to maintain safety and security while not having a negative impact on your customer’s online experience. This involves only asking for information from your customers that you absolutely need. It also includes designing an authentication process that is seamless and easy to use for your online customers. In order to accomplish this, it’s important to enlist an identity authentication company that has the experience and strategy to protect your company and customers while maintaining a straightforward user experience.
How does IDology help customers with Identity Authentication? Find out more here.