Digital identity is becoming the next big thing for secure transactions in the digital world. Rapid digitization of business and consumer transactions has naturally caused a significant increase of cybercrime. Banks, governments and many other vendors critically need a simple and secure way to verify identity.
Digital Identity For Digital World
Current industry standards are still based on the traditional identification methods that no longer meet the expectations of the digital world. Many services rely on visiting a branch office, some started to experiment with scanning ID combined with facial recognition or a video call. And then there are solutions by Wultra...
01. Bank Identity
New initiatives related to open banking and digital government open radically new possibilities. Thanks to open banking, driven by EU regulations, banks are opening to the 3rd parties and starting to be more connected. In cooperation with the banks, we launched an online identity verification service (KYC/AML), branded as the Bank business card. Thousands of clients use this product every day.
02. Identity Sensing
Standard identity assessment methods can be also integrated and enriched with dynamic behavioral authentication and fraud detection technologies. Deep behavior scoring recognizes a legitimate customer from a cybercriminal trying to log in to the app. To distinguish a legitimate user from a fraudster, a wide range of indicators is used, such as user’s location, usage pattern or analysis of various attributes of the payment.