« See full schedule

Prove Who You Are: The Future of Identity Verification

Thursday, June 07 | 3:00 PM — 3:45 PM

Verifying that someone is who they say they are is essential for preventing fraud and fulfilling financial institutions’ know-your-customer obligations. Today, institutions do this primarily by matching consumer-provided information against databases compiled from other consumer-provided information, such as credit bureaus or social media companies. Given that consumer identity is a complex mix of government-issued information, personal secrets, and inherent attributes, organizations cannot use databases to verify identity with total certainty. Institutions are also grappling with challenges like digital identity theft and fraud, as well as proving identity for those with limited online history. This session will explore the practices and pitfalls of identity verification today, the potential impact of emerging techniques like biometric data and distributed ledgers, and who should ultimately be responsible for storing and protecting sensitive consumer information.