At the most recent Future Identity Festival, co-located with FTT Mutuals and the Fintech Talents Festival, the very best minds in digital identity came together to discuss and debate the latest trends and challenges in KYC, cybersecurity, fraud, biometrics, authentication and much more.
Amidst the buzz of the exhibition floor, we had the chance to chat with Mike Kiely, IDnow’s Regional Senior Sales Director. IDnow are a global IDV services provider, helping clients to onboard their customers with multi-dimensional identity verification and fraud prevention.
Mike explains that the use of a variety of technologies, from document verification to biometrics, video identification and in-branch technology, allows IDnow to satisfy a wide range of use cases and be compliant across multiple jurisdictions. This is especially beneficial to European businesses, Mike highlights, because, “they don’t have to have a number of different vendors in all the different countries, they can use one single vendor.”
Regulation is important to the growth of identity however, Mike says, highlighting the UK Digital Identity and Attributes Trust Framework (DIATF) as a prime example of this fact.
“[The DIATF] gives our clients confidence that we are onboarding their customers safely and compliantly,” Mike explains, “This goes for the UK consumer as well. The UK government are hoping the framework will pave the way for digital identity, but in order to do that we have to give the UK consumer trust that their data is being used securely.”
Watch the full interview below to hear Mike’s thoughts on the regulatory road ahead, the impact of AI on rising fraud, and how the identity industry is working to protect consumers and businesses.
Registration is now open for our first event of 2024 – Future Identity Finance – join 500+ attendees at etc. venues St. Paul’s, London, to explore how innovation, regulation and customer expectations are changing how we identify ourselves to access financial services.