2024 Trends in Digital Identity

Whether they’re contemplating digital ID adoption or building a defense against business identity theft, organizations across industries and around the world are facing a year of change in 2024.

The digital economy shifts quickly and often leaves organizations scrambling to meet heightened customer expectations, defend against emerging fraud threats and comply with evolving regulations. The Trulioo “2024 Trends in Digital Identity” on-demand webinar can help ease that pressure by delivering deep insight into the digital verification challenges and opportunities organizations can expect in the coming year.

Here are some of the observations of the webinar.

Decoding Complex Know Your Business Processes

Know Your Business (KYB) checks are critical in preventing money laundering and financial crimes and are a cornerstone of compliance programs.

But organizations face challenges in efficiently verifying businesses while defending against growing fraud threats, such as business identity theft. Manual reviews, complicated business structures and ultimate beneficial owner verification add to KYB complexity and onboarding inefficiency.

The webinar highlights an easier way. It provides strategies to rapidly onboard businesses while keeping business identity theft at bay.

Evolving AI-Powered Threats and Opportunities

Generative AI-powered threats, such as deepfakes, require advanced vigilance, layered strategies and continuous onboarding optimization.

But AI also provides a powerful defense against fraud. Still, the strategies and regulations for ethically training and using AI are continually evolving to address bias and ensure data privacy.

The webinar highlights ways in which organizations can maximize AI’s benefits while mitigating potential risks.

Preparing for Change From Super Apps

Super apps have expanded beyond consumer applications to include enterprise experiences, such as workflow collaboration and messaging platforms.

These multifunctional, mobile-first experiences that offer a full menu of services cut across industries and present new risks and compliance requirements. That creates a need for tailored compliance measures, such as Know Your Customer, enhanced due diligence and transaction monitoring based on specific risks.

The webinar explores the surge in super app development and how organizations can adjust to new risks and compliance requirements.

The Benefits of Agile Verification Processes

Digital identity, the tools to verify it and the threats against it are constantly evolving.

With a strong strategy for today, a clear view of what’s on the horizon and the flexibility to adjust to change, organizations can be ready for whatever comes next.