The merging of digital and physical worlds is rapidly becoming the most significant technology challenge of the decade, according to a recent report by global professional services company Accenture. As the world becomes increasingly connected, businesses and governments must navigate complex ecosystems that enable digital banking, remote work, and other conveniences, while protecting consumer and worker privacy, as well as the assets of the organizations serving and employing them.
“96% of executives agree that the convergence of digital and physical worlds over the next decade will transform their industry.”
As a leading identity verification company, Veridas understands the significant technology challenges that arise from the merging of digital and physical worlds. That is the basis of our holistic approach to identity that is designed to erase the barriers between both worlds and build bridges based on trusted identities.
Veridas focus on biometric innovations and commitment to ensuring privacy and security enables us to provide innovative solutions that facilitate frictionless user experiences while maintaining compliance with stringent privacy regulations.
As the world becomes increasingly connected, Veridas is well-positioned to help businesses overcome the challenges of merging the digital and physical worlds. Our solutions play a critical role in enabling the seemingly impossible balance of frictionless user experiences and fully compliant, always-on security for both consumer and enterprise data.
Two different realities, one true identity
“Physical security & cybersecurity divisions are often still treated as separate entities. When security leaders operate in these siloes, they lack a holistic view of security threats targeting their enterprise. As a result, attacks are more likely to occur and can lead to impacts such as exposure of sensitive or proprietary information, economic damage, loss of life, and disruption of National Critical Functions”
In order to connect the digital and physical worlds, it is crucial to identify the elements that are present in both. At the core of these two worlds is us – our real identities. Our identities should not shift from one world to the other. Therefore, using identity verification methods that confirm that people are who they say they are on both digital and physical channels is essential for a secure merge of these two worlds. Biometric verification is the only way to truly verify a person’s identity, as it links everything that makes us unique – our face, our voice, and more.
In contrast, passwords and device-based verifications can be lost, impersonated, or hacked. By enabling individuals to access their digital and physical worlds with confidence and trust, biometric verification serves as the foundation for secure identity verification.
“Firms have responded to the increased frequency and complexity of cyber threats by putting higher security burdens on customers. The result is that the quality of the digital experience for customers has decreased dramatically. According to our research, customers have to remember more than 14 passwords on average [...] yet, ironically, consumer perceptions of security have worsened. Digital security and privacy are eroding consumer trust online.”
Turning challenges into opportunities
In the midst of a technological revolution, companies that lead the way will have the opportunity to capitalize on the momentum. By adopting innovative solutions such as Veridas technologies for identity verification or face and voice biometric authentication companies can not only meet the expectations of their current customers but also attract a new generation of customers who demand seamless and secure digital and physical experiences. Staying ahead of the curve will enable companies to maintain a competitive edge and establish themselves as leaders in their respective industries.
Veridas has a proven track record of delivering innovative biometric solutions that accompany our clients through their customers’ entire lifecycle. From completing the onboarding process to enabling multiple authentication scenarios that allow users to operate safely and without friction both online and physically, our technologies provide a comprehensive and secure solution.
For instance, BBVA, the international bank, has implemented more than 40 use cases using Veridas technologies. In Mexico, pensioners can prove their existence through their voice, eliminating the need for costly trips. In Italy, Veridas’ identity verification technology has enabled a 100% digital branch with over 160,000 customers. In Switzerland, new customers can digitally sign documents and complete their onboarding process with their biometrics.
More than 8 Italian airports, including The International Airport in Rome, have also leveraged Veridas biometric terminals for immigration checks, while Osasuna, a Spanish football club, has become the first LaLiga team to allow fans access to the stadium solely through facial recognition. These examples demonstrate how Veridas’ technologies can enable seamless and secure experiences for customers across various industries.
Veridas, your identity partner for both worlds
Veridas’ cutting-edge identity verification technologies offer frictionless user experiences and improve approval rates, while minimizing IT investment with no-code deployment, easy integration, and compatibility with legacy systems.
We also offer next-level fraud mitigation by automatically detecting transaction fraud, intrusion attempts, or account duplicates and protecting your assets. Additionally, we ensure global and regional compliance with any global or regional regulation, including CCPA, GDPR, and PSD2.
As the Accenture report highlights, identity is the catalyst for the next generation of innovation, and old models of identity are holding back technological ambitions. The convergence of the physical and digital worlds can only be sparked when people and things have an identity that can traverse both sides.
Veridas’ identity verification technologies transcend both worlds, making it the perfect fit for any company willing to turn the challenge into a competitive advantage.
