Imagine your smartphone replacing your passport or identity card. That should come as no surprise to anyone given how important mobile phones are to everyday life in 2018 – that one device can connect you to your loved ones, your bank, the closest coffee shop, or your next ride to the airport. For many, it’s an integral part of their digital identity. Using mobile data and technology to verify identities is just the next logical step.
The concept of mobile identity – its value, uses, challenges and outcomes – is the topic of the latest State of Identity Podcast, now available through the One World Identity website. Host Cameron D’Ambrosi from One World Identity facilitates a vital discussion with Trulioo CEO Stephen Ufford, Glyn Povah from Telefónica and Mark Harvey from GSMA, to offer unique perspectives from an array of technology and data providers. Stephen from an online identity verification service, Glyn from a mobile network operator, and Mark from an industry association representing hundreds of mobile carriers around the world.
One thing is clear from the conversation – there’s an enormous amount of mobile technology and data in the hands of both people and businesses. And it’s no wonder. Around the world, there are over 5 billion mobile phones in operation, all of them plugged in to a large collection of over 800 mobile network operators (MNOs). As more and more people use their phones for conducting everyday activities and transactions such as creating accounts or paying bills, we’ve increasingly become a mobile-first world.
Investing in Mobile Identity
“We’re heavily invested in making mobile carriers a complementary source for KYC and fraud prevention,” said Ufford. “Our mission over the next 12 to 24 months is to add as many of those carriers as we can so that we can improve both the coverage and the ability of our customers and their customers to be known when they want to be known at as great a scale as possible.”
Businesses, especially those operating in a regulated sector such as banking or financial services, need to adhere to strict Know Your Customer (KYC) procedures – all in an effort to reduce risk, stay complaint with regulations, and combat nefarious activities such as money laundering. The enormous opportunity presented by mobile network operators and all their digital data is presenting new ways to address an age-old problem. The evolution of mobile technology has taken decades to get there, but it’s now primed to make an enormous impact on digital identity verification. And as Stephen sees it, it’s one of the most impactful events to happen in the identity space.
Get the insiders’ point of view and hear what industry leaders are saying about mobile technology, digital identity and the future of both in this State of Identity podcast.