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Surge in Online Transactions Make Digital Identity a Necessity

– Think Digital Partners

Christine Horton relays information from a recent GBG State of Digital Identity report that claims a “digital first” business strategy is no longer a suggestion but a necessity

Businesses responding to questions about fraud, customer experiences or technologies in a post-COVID world noted that providing customers with identity verification can set their companies apart from the competition.

“However, 54 percent of businesses say identity verification has become more complicated and complex in the last three years. 54 percent of businesses finding this a more difficult balance to strike in the past three years. This might indicate a struggle between delivering a frictionless customer experience and fraud prevention and security.”

Customers responding to the survey reported an increase in opening and managing online accounts for everyday transactions, as well as an increase in concern about fraud.

With COVID-19 and digital acceleration, we have seen big shifts in attitudes from consumers and companies on identity, and the report’s findings reflect those shifts

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