The cybersecurity company, Vu, dedicated to user identity protection and fraud prevention, shared the importance of each user being aware of the security of their identity since, with it comes a large amount of data that has been shared throughout each one’s stay on the Web, as well as each action that is emitted during Internet browsing.
According to a study carried out by IDC Research Spain, the digital identity of users in the financial environment has been evolving, thus verifying percentage figures of 76% of users who have given importance to digital identity management.
According to information received in Cointelegraph, this study also showed that “biometric recognition is spreading as a practice among financial institutions. In fact, 65% of those surveyed consider it the preferred solution by customers and 70% frame it as the safest method.” This could possibly be due to the fact that Spain is currently the country in Europe with the most cases of victims of identity theft.
Vu, to deal with this problem, created a solution called “(C)IAM” (Customer Identity & Access Management) with which organizations can have a comprehensive unified digital identity strategy at their fingertips.
“This tool has the ability to orchestrate identity validation, proof of life, registration, user authentication and fraud detection in real time. Thus, it allows managing the complete digital life cycle of internal and external users through onboarding control, biometric validation and proof of life, verification of authentication factors and access authorization”, explained the company in the communication sent.
This unification of identities, as it is linked to the management of the permissions offered by the user in order to be able to use their personal information, brings the controls together in a single system. “This evolution allows us to move to a more holistic authentication paradigm, which gives beneficiaries the possibility of owning their personal data, achieving a higher level of freedom and independence in the digital world.” added Vu to close.
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