Digital Identity Verification Sector Spotlight — eCommerce
This installment of the sector spotlight series looks into identity verification trends specific to the eCommerce industry.
While not as well understood as some other areas, eCommerce has a large responsibility when it comes to identity verification. With the advent of two-factor and multi-factor authentication, as enshrined by rules such as SCA (Strong Customer Authentication) under PSD2 (Second Payment Services Directive) in the EU, verifying user identities is no longer optional.
This spotlight will examine the eCommerce industry’s individual challenges around digital identity verification and outline our anticipated future outlook.
Key learnings from this spotlight include:
- How identity verification solves for pain points specific to the eCommerce sector
- Why diverse, multi-layered data is central to effective digital identity verification
- How Machine Learning and Artificial Intelligence tools can be properly implemented to ensure transparency and explainability