Your digital footprint, also known as a digital shadow or electronic footprint, encompasses the traces of data you leave behind while navigating the online world. This includes your visited websites, sent emails, and submitted information. By understanding digital footprints, we can effectively track online activities and devices associated with individuals.
We all possess identifiable physical traits that are singular and unrivalled, commonly referred to as biometric attributes. Fingerprints, voice, and face traits are well-known biometric characteristics that are frequently utilised in identity verification. Consequently, what is biometric verification? Identification of people using these distinctive, previously described traits is known as biometric verification. In this way, you may demonstrate your identity in both a real and digital setting.
Using AI-enabled Face Match and Passive Liveness Detection Technology, IDcentral’s eKYC verification solution provides an additional layer of Identity Verification for online user onboarding. Along with increased accuracy, IDcentral’s KYX solution cuts down on onboarding friction associated with traditional KYC and ID verification techniques.
Business Insider reports that the identity verification market is anticipated to reach a value of $12.8 billion by 2024 as a result of the rising amount of digital transactions that require precise and trustworthy identification data. However, a lot of individuals don’t comprehend what identity entails. Identity is more complicated than it first looks since it can vary based on the setting and sector. For the various sources of identification data to be combined, data orchestration is essential.
Vietnam’s government is taking steps to combat online scams and other forms of cybercrime by making it mandatory for users of Facebook, TikTok, and other social media networks to verify their identities using real-time identity verification. According to the Global Anti Scam Alliance, Vietnam has one of the highest rates of online fraud in Asia.
In 2023, India’s Aadhaar system has become a critical component of the country’s financial infrastructure. With over 1.3 billion registered users, Aadhaar has enabled a range of digital services that were previously impossible, including eKYC (electronic know-your-customer) for financial institutions. In this blog, we’ll explore the benefits of Aadhaar eKYC for businesses and consumers alike.
The detrimental effects that financial crime may have on businesses and their consumers are nothing new to the fintech sector. When it comes to money laundering, this is especially accurate. Fintechs are attractive targets for money launderers since they only offer digital services, which they believe gives them more anonymity and makes it possible for them to perpetrate crimes undetected.
