Veridas was more than present at Gartner’s Identity & Access Management Summit in London, an event where they discussed how digital transformation continues to accelerate the adoption of new identity and access management (IAM) approaches and technologies. Veridas was cited as a reference company in terms of biometrics solutions in one of the essential identity forums in the world.
BBVA, pioneers in digital transformation thanks to Veridas
Our CEO, Eduardo Azanza, and our Global Marketing Product Marketing Manager, Miguel Zarraluqui, accompanied BBVA’s Global Head of Digital Identity, Miguel Villaumbrales, who gave a presentation on “The experience of digital identity and security that drives the digital transformation of a bank”.
In it, Villaumbrales told about the bank’s digitalization trajectory and how Veridas has helped drive more than 30 use cases worldwide, in countries such as Spain, Mexico, Switzerland, Colombia, Argentina, Peru, Italy, Uruguay or Turkey, among others. “Working as one team is the only way to improve and deploy use cases on a large scale,” said Miguel during his presentation.
Emphasizing the case of BBVA Mexico, where thanks to our voice biometrics solution we have improved the lives of thousands of Mexican pensioners, Villaumbrales pointed out that “the elderly accept biometrics when a problem is solved for them and we have achieved this thanks to Veridas technology”.
Thanks to Veridas’ Digital Onboarding solution, he also reviewed how BBVA became the first financial institution to allow remote account opening thanks to a simple selfie. BBVA has increased its customer acquisition through digital channels by 81% in the last year alone (1Q22 vs. 1Q21), going from a digital acquisition rate of 6% in 2017 to achieving 57% today.
Finally, BBVA’s Global Head of Digital Identity told what their dual security strategy is based on: device biometrics, according to FIDO (Fast Identity Online Alliance) standards, and Veridas biometrics. This allows them to adapt to the needs of each use case, country, and customer type, which means that digital sales account for 73% of all units sold by BBVA.
Veridas, recognized by Gartner as a global benchmark provider
The event featured many presentations by experts in which they reviewed issues related to digital identity and access management. One of the topics that stood out on the event’s agenda was the adoption of passwordless strategies as a fundamental piece in the acceleration and consolidation of digitalization.
One of the three presentations by Ant Allan, Vice President of Analysis at Gartner Research, dealt with the steps to achieving a passwordless strategy. Allan reviewed the importance of adopting solutions based on inherency elements concerning possession or knowledge elements, emphasizing that on-device biometrics cannot be considered exclusively as an inherency factor due to its direct dependence on the device.
In this regard, Ant Allan mentioned the vendors that he, as a recognized expert in authentication strategies, considers worldwide reference manufacturers, including Veridas in this exclusive list.