{"id":26485,"date":"2022-01-12T15:31:06","date_gmt":"2022-01-12T15:31:06","guid":{"rendered":"https:\/\/veridas.com\/?p=26485"},"modified":"2025-01-08T10:46:10","modified_gmt":"2025-01-08T10:46:10","slug":"whats-the-least-number-of-times-you-can-have-a-customer-prove-their-identity","status":"publish","type":"post","link":"https:\/\/veridas.webgate.codes\/en\/whats-the-least-number-of-times-you-can-have-a-customer-prove-their-identity\/","title":{"rendered":"What\u2019s the least number of times you can have a customer prove their identity?"},"content":{"rendered":"\t\t
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Eduardo Azanza, Veridas\u2019 CEO, along with top players in the industry discussed over <\/span>\u201cWhat\u2019s the least number of times you can have a customer prove their identity?\u201d <\/span><\/i>at <\/span>Money 20\/20<\/span><\/a> Europe, the top fintech conference held in Amsterdam last june 2021. The conclusions of the discussion have now been released in a 18-page report.\u00a0<\/span><\/p>

Customers are demanded to prove their identity every time they want to interact with a company. How can companies make this as frictionless as possible for the user while maintaining security?<\/span><\/p>

This topic was undertaken by biometrics\u2019 industry leaders who answered relevant questions such as what technologies and partnerships businesses should be created and used so that customers can be recognized passively and effortlessly.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Verifying once... Is that enough?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The problem does not lie on the initial identification, but rather on the subsequent, continuous verifications, which could be costly and intrusive for clients, consequently diminishing their user experience.<\/span><\/p>

Reverification<\/b> is where the market wants to move. Not just because companies are increasingly starting to get aware of the benefits of the former, but also because regulators are pushing businesses to do so.<\/span><\/p>

Four main issues arise whenever this topic is considered: Firstly, the solution lies on the <\/span>properness of identification<\/b>; a proper identification completed once could be reused throughout the customer lifecycle without needing to continuously ask the clients to authenticate themselves again; <\/span>you don\u2019t have to show documents when we know it’s you.\u00a0 <\/span><\/i>Secondly, we should aim for a process where authentication happens every time the user gives his\/her <\/span>consent<\/b> and wants to be identified. Thirdly,\u00a0 <\/span>cultural and regulatory values<\/b> should be taken into account. To simplify the authentication process, we need locally compliant flows in different countries to accommodate different regulatory frameworks or user preferences.\u00a0 And lastly, we need to consider the <\/span>different definitions of strong IDs and security<\/b> across countries in order to find ways to help governments improve the strength of their identity systems.\u00a0<\/span><\/p>

We are clearly moving towards a future where high-value transactions could be approved just with our face. But how to offer that in the best possible way?<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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What are the obstacles?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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A first obstacle is to solve the <\/span>countries regulatory differences<\/b>; there is a need for one solution that could work for multiple countries.<\/span><\/p>

However, the hurdles do not come only from laws, like GDPR, but sometimes the obstacles are the <\/span>local authorities\u2019 understanding of the law<\/b>, especially around the data and how to authenticate it. <\/span>It is important to realize that, rather than being humans solvers of the flackness of technology, they can act as noise of the equation. <\/span><\/i>Nevertheless, the solution does not lie in removing all human involvement, but rather educating regulators so that they can learn and we can move the industry forward faster. Getting to the point where automation increases quality.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Biometrics: The solution<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Verifiable Credentials and zero-knowledge proofs<\/b> are technologically quite interesting but their usefulness and security is still doubtful. In less than 10 years, businesses will be onboarding people to their verifiable credentials and then authenticate them to those.<\/span><\/p>

Biometrics<\/b><\/a> is a means to <\/span>make subsequent authentications more frictionless.<\/span><\/a> We find a clear example in the recently created Covid health certificates, where it has been proved that even though they are required in many places, the person asking for it still requires a passport or other strong ID to confirm the user\u2019s identity and ensure security, something that could be removed with a <\/span>Biometric-based-Covid passport.<\/span><\/a><\/p>

However, <\/span>it shouldn\u2019t come at the expense of privacy and security<\/span><\/a>; we want to authenticate without storing data. Being the aforementioned a concern for companies and Governments, biometric firms need to do more public education; <\/span>we have a responsibility to talk to regulators about the <\/span><\/i>opportunities and risks of biometrics as the best way to demonstrate identity.\u00a0<\/i><\/b><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\"New<\/a><\/span>