The tools financial institutions and ecommerce providers traditionally use to validate consumers’ identities have become antiquated and data sources once considered the ‘gold standard’ for identity verification have been compromised. Today, when consumers are mobile-first, have thin or non-existent credit histories, and want frictionless transactions, a new approach to identity verification is needed.Without it, the 5 billion people around the world who make cash purchases risk exclusion from the modern economy.
The good news is that a fresh, digital approach to identity is here. With the help of machine learning, we can now use the vast amount of data consumers generate in their online lives to verify their real-world identities. How does this technology work and what does it mean for businesses trying to onboard more good customers and root out fraudsters?
Join us for this SVIC interview for answers to these questions and more as we talk to Johnny Ayers, Co-founder and SVP at Socure.