Market research and industry analysis firm Hypatia Research Group has launched a new report on customer identity authentication. The paper, entitled “Customer Identity Authentication: A Practitioner’s Guide to Best Practices in Avoiding Identity Theft, Fraud & Risk”, is forty pages long and features ten figures to help illustrate its findings on the reasons companies employ customer identity authentication practices and the best ways to go about it.
The researchers essentially found that companies use customer identity authentication for two reasons: One is to improve customer service, as in the many cases in which financial institutions and call centers have employed voice biometrics to quickly identify customers. The other, perhaps more obvious motivation is risk management – in other words, cutting down on fraud.
The researchers found that many organizations are now taking a multi-factor and/or multi-modal approach – which is good news from a security standpoint, as it’s recommended by a range of security experts and organizations including the FIDO Alliance. But in those case, the researchers urge those organizations to ensure there is “assiduous back-end integration”. In other words, such security systems should be employed through every interface between them and their customers, ensuring a uniformly strong security apparatus, and presenting a uniform experience for the customer.
As organizations’ interactions with customers increasingly move into the digital and mobile realm, there is an increased need for security – but that security should be applied consistently. As Hypatia SVP and principal analyst Leslie Ament says, “Customers engage with brands as one entity, and that’s the face that should be presented to them.”