The surge in digital channel usage brought on by COVID-19 forced financial institutions to accelerate digital transformation as a way to address growing demand. With previous investment weighted towards customer experience, financial institutions have had to re-evaluate their digital strategy with a renewed focus on identity proofing as a core requirement to continue operating.
Identity proofing and affirmation is critical for managing risk in the account opening or enrollment process, especially when no prior relationship or profile exists with a customer. An effective strategy requires implementing multiple capabilities, such as behavioral biometrics, which provide trust or risk signals based on a user’s digital behavior.
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Market Guide for Identity Proofing and Affirmation, Akif Khan, Jonathan Care, 11 September 2020
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