White paper: Digital identity in a new world - the future came faster
The future of identity 2.0
Digital identity is at the very core of the new world we now find ourselves in. If we can’t slow down the accelerating change, we can at least get a whole lot smarter about how we earn and keep consumer trust. Some of the changes we need to make are in technology implementation. Some of the changes we need to make simply involve better communication. Either way you look at it, the future came faster than we expected, and change we must.
In the sequel to “The future of identity” whitepaper, "Digital identity in a new world – the future came faster," Steve Ritter, Chief Technology Officer at Mitek, explores the rapid ascent into the new digital world and discusses recent identity changes, including:
- From digital-optional to digital-centric
- Fraud is soaring–better identity verification is key to containing it
- Verifying identities through an efficient, scalable digital onboarding process.
- Striking the right balance between less friction and more security
- Trust is emerging as the primary enabler of business growth
- Understanding individuals at scale
Unchartered ascent into the new digital landscape
of consumers now interact with their bank through mobile apps or websites at least once a week
- Accenture Banking Consumer Study, 2020
of consumers are comfortable providing biometric information if they are assured their information will be protected
- PYMNTS report: The FI's guide to improving digital onboarding, 2020
of US consumers have tried a new shopping behavior since COVID-19 started
- The Great Consumer Shift, McKinsey, 2020
In his role as Chief Technology Officer, Stephen Ritter drives the technical development of Mitek’s award-winning mobile deposit, mobile capture and identity verification solutions, and oversees the company’s computer vision and scientific team at Mitek Labs. Stephen has more than 25 years of experience in machine learning, security, cloud and biometric technologies, and provides an innovative source of technical leadership and expertise. Stephen holds a Bachelor of Science degree in Cognitive Science from the University of California, San Diego and has co-authored eight patents.