Do we really understand our digital identity?

Users increasingly value the comfort and facilities of having a digital identity, and its use increases day by day to access new services or digitize daily procedures. On the other hand, with the increasing rates of cybercrime there is also a growing concern about the security of personal and financial information.

However, are users really affected by what it means and implies having a digital identity? According to the recent study by Mitek Digital Identity 2020 - Drivers and Challenges, everyone has their own version of what digital identity is and what it is used for. Users are confused, while worried about the risks they may be affected. But this is not an impediment to digital identity every time it is used more on a daily basis.

One of the main conclusions of the study is that, despite the fact that users are very concerned about the security of their data, they are willing to sacrifice a certain security in services that provide them day to day.

On the other hand, perhaps users are taking unnecessary risks: The study shows that many users still prefer traditional identity verification methods, such as password, digital signature or face-to-face document validation, over more technologies Safe as biometrics.

Users perceive these traditional systems as more secure, because of a matter of habit and because they feel they have more control over, for example, a password, which they can change at any time, than over their biometric data, who do not know how they are treated and they use, and of course they cannot modify in case there is a security breach. In fact, only 17% of users prefer to verify their identity through biometrics or similar.

But probably the distrust is also due to a lack of information about the real risks of both technologies. In this sense, it is possible to reflect on the role of companies in communicating better the risks of traditional systems, and the levels of security, in addition to comfort, of new identity verification technologies.

Main concerns of the user about the use of digital identity.

Companies are increasingly investing in new technologies with facial recognition, retinal scanner or fingerprint scanner or manual fingerprint. The global biometrics market is expected to be worth more than $ 59.43 billion by 2025 (Global Biometric Technology Market Expected to Reach Around USD 59.43 Billion By 2025: Zion Market Research). But, on the other hand, while it is true that its use by the user is growing, there is still a lack of general confidence in biometric technologies, which delays its adoption in the market.

In this sense, the investment of companies in communicating the advantages of these technologies will benefit both the user, promoting the adoption of safer, faster and more comfortable systems, as well as the company, reducing risk and losses due to fraud and improving processes onboarding.

Download your free eBook!

  • Download your free eBook!