There is a massive increase in digital transformation in businesses worldwide—big or small. We can say that this is all thanks o the pandemic that started two years ago. People’s reliance on using their digital devices is now not only for entertainment but also for digital transactions. With so much potential to make transactions easier and faster, cyberspace has also become the most eyed cyber-attack platform. As technology companies up their game in providing secure authentication, cybercriminal opportunists also try to keep up.
For this reason, authID.ai launched Identity Management 2022, which aims to educate tech leaders to remember what matters most. It is a way to remind people how the digital space works and how digital identity is essential. It is committed to enabling both customers and employees to secure their digital identities through device-based authentication as ‘trust’ is becoming one of the primary commodities in the rise of the new economy.
What is Digital Identity, and Why is it Important?
To simply put, digital identity is all information that one puts online. It is always about an individual’s Personally Identifiable Information or PII used for identity verification. Its elements include purchasing behaviors, social media activity, online bank accounts, etc. Because of this, we can say that everyone is wired, and a single error in the system can jeopardize the whole.
Now that everyone lives in the online world, seamless online identity verification must be secured to protect one’s data. With all the digital security options available, biometric authentication proved the safest and most accurate way to identify the people behind each transaction.
Though the economy worldwide is slowly opening up and resuming its new normal state, the imprint that the COVID-19 pandemic is here to stay. Because of this event, digitization has become the main highlight that technology companies have to protect.