Identity assurance & the market for verified attributes
This is part of a talk I gave at Ctrl-SHIFT's THE PERSONAL INFORMATION ECONOMY 2014 conference. We are living in the midst of a digital data explosion. Much of this data – about who we are and what we do – is personal data, and it’s becoming a critical component of business strategy for consumer facing brands, organisations and their suppliers. Leveraging personal data effectively can improve sales and marketing, brand perception, innovation, customer acquisition, retention and experience as well as reducing the cost to serve and managing the risks of compliance and security. To unleash its potential, however, organisations have to get their approach to personal data right. They need to build trust around data collection and use. They need to demonstrate customer value.
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Identity assurance & the market for verified attributes
- 1. THE ONLY WAY TO PROVE YOU ARE WHO YOU SAY YOU ARE PURELY ONLINE INTRODUCTION
- 3. TRUSTED + VERIFIED ATTRIBUTES Identity as a Service (IDaaS) Platform Multi-LoA Verification Strong Authentication Somethingyou Know Somethingyou Have Identity Proofing Primary (Youareyou) Personal Cloud Personal Profile PasswordUsername Mobile Device (Toopher) Hard Token (Yubikey) Verified Attributes Personal Information Bank Statements TrueAge Social Accounts Trading Accounts CRA Data (UK & US) Verified qualifications (UK) Bureau Data (UK & US) Directory API Financials API Claims API DirectID Web & Mobile UI A B C Secondary (informationaboutyou) PII Data Whereyou Are Geo Location Somethingyou Are Voice Biometrics Social Accounts Trading Accounts Verified qualifications (UK) Utility Accounts Credit Card Accounts With Active Revalidation Bank Accounts Device SecurityManagement & ConsentIdentity Aggregation Personality Profile & Intent
- 4. TRUST DRIVES VALUE low trust low value HIGH TRUST HIGH VALUE1.Convenience 2.Control 3.Security
- 5. IDENTITY IS ABOUT CONTEXT CONSUMER CONTEXT & BUSINESS NEED
- 6. PROVIDE BENEFITS & VALUE 1. Choice and consent of what to share and when 2. Control and manageability of personal data 3. Privacy to share nothing or everything, including sensitive personal data Verified Attributes PLUS: 1. Online customer conversion 50% to 70% increase 2. Offline execution costs £1 / user / month 3. Fraud cost and risk up to 100% reduction FOR THE CONSUMER FOR THE BUSINESS