September 20, 2018
The Rise of Digital Identity
Posted February 12, 2018
When I joined ThreatMetrix in 2008, my team had a clear objective – to enable companies to safely transact online and gain control of their brand experience.
Back then (as it still is today), identity on the Web was broken. The strategy of using static credentials was inefficient and etched in the flawed expectation that private information was, in fact, private. Layering on authentication techniques that treat customers like criminals also wasn’t good enough. We knew consumers wouldn’t stand for it, and we knew we needed a better way to assess and authenticate identities online.
Fast-forward nearly a decade, and we’ve witnessed a truly remarkable year for digital identity and for ThreatMetrix.
For starters, leading analyst firms, including Gartner and Forrester, have recognized digital identity as a distinct solution category – one focused on the fundamental need for digital businesses to establish trust on the Web.
No surprise because, in 2017, we witnessed unprecedented data breaches and the ripple effect this has on the digital economy. (One look at the Identity Attack Indexes in our quarterly Cybercrime Reports proves this.)
For ThreatMetrix, we also saw unprecedented demand for digital identity solutions in multiple industries across the globe. And, we’ve continued our culture of innovation by launching ThreatMetrix ID™– the world’s first and only unique and anonymous digital identifier.
Most recently, we took our first step toward a new vision.
Last month, we joined forces with LexisNexis Risk Solutions, a global leader in its own right. We look forward to the new possibilities of merging digital and physical identity. But the mission remains the same – to help businesses grow profitably via digital channels.
Against this backdrop, I was honored to be named as one of the Top 100 Influencers in Identity by our friends at One World Identity (OWI). I appreciate that recognition. It was made possible by the work and dedication of the entire ThreatMetrix organization during the past decade.
But, in many ways, our work is just beginning.
Global businesses of all shapes and sizes continue to be under siege, with fraudsters developing ever-more sophisticated techniques to impersonate legitimate users with stolen or synthesized identities. While it’s easy to just block users, that is not and has never been the goal. The challenge is delivering a convenient and secure digital experience to the overwhelming majority of legitimate users while pinpointing fraudsters. ThreatMetrix continues to offer sophisticated solutions to address this challenge.
In the months ahead, I hope even more professionals across security, fraud, digital product development, mobile, authentication and other disciplines will move digital identity to the front of their identity assessment and authentication processes.
To that end, we will continue – as we have for the past eight years – to shape the conversation by sharing a stage with organizations, such as OWI, TD Bank, Standard Chartered Bank and Lloyds Banking Group, at our global Digital Identity Summit as well as at regional Digital Identity Meet-Ups.
After a decade of growth, our vision remains the same and grows more ambitious by the day. As digital identity transcends fraud and authentication, it opens up whole new possibilities that help businesses drive online commerce, build sustainable growth and thrive in the digital economy.